Financial Statements Project
You are required to prepare the following financial statements using Excel.
USE EXCEL EFFICIENTLY AND EFFECTIVELY TO COMPLETE THIS PROJECT (cell references, formulas, etc.).
(1) Using the data for Spring, Inc. provided in the sheet labeled "Trial Balance" prepare:
Balance Sheet - comparative, classified in proper format for fiscal years 2012 and 2013.
Income Statement - multiple-step for fiscal years 2012 and 2013. Include earnings per share data.
Statement of Retained Earnings for 2013.
Use separate sheets, appropriately named, for each financial statement.
List 5 notes that would be required if you were also preparing the notes to these financial statements.
Do not prepare the notes, just briefly list the accounts, etc. for which GAAP would require disclosure
based on Spring's financial statements.
(2) Using the data for Midnight, Inc. provided in the sheet labeled "Cash Flows" prepare:
Statement of Cash Flows for fiscal year 2013 in proper format.
Use a separate sheet, appropriately named, for the Statement of Cash Flows.
(3) Place your name in cell A1 of the first sheet you create and on all sheets to be printed out.
FILENAME:
Name your file FSlastname. For example, my file would be named: FSCasello_Bouges
(4) Neatness counts. Make sure the pages break in appropriate places for printing. For instance, make sure the entire balance sheet prints out on one page. Look at the annual report of your favorite company for help with appropriate formatting, subtotalling, underlining, grouping, etc.