Given Company: Nike Sports
Set up 8 different scenarios (Word Problems) that will result in basic journal entries such as putting money into the business. Design an EXCEL SPREADSHEET to have the student input the values for the journal entries.
Also prepare an EXCEL SOLUTION for this section.
For example : Transaction 1: Purchases office supplies on Jan 4 costing $76000 on credit.
Journal Entry Will be:
Date Transaction Debit Credit
Jan 4 Office Supplies 76000
Accounts Payable 76000
We need 8 transactions like that. And Excel spreadsheet should have different input boxes for different values. The input should be reflected in the solution.
Sheet1: Excel sheet must have input tabs for the values for different transactions. It should be user friendly.
Sheet 2: Another sheet can be named as "Solution JE", should reflect the debit credit values on the Journal Entry Format. Debit and Credit End Amounts (Total) must be same as every transaction has debit and credit effect.