Question: Please read the information carefully and completed it in excel. The four requirements:
1. Transactions
a. Record all transactions in the relevant journals. Note that special journals must be used where applicable. Any transaction that cannot be recorded in a special journal should be recorded in the general journal.
b. Post entries recorded in the journals to the appropriate ledger accounts according to the company's accounting policies and procedures.
Remember to enter all answers to the nearest whole dollar. When calculating a discount, if a discount is not a whole number, round the discount to the nearest whole dollar. Then, to calculate the Cash amount, subtract the discount from the original amount.
2. End of month posting
a. Total the columns in the special journals.
b. Post the totals of the columns in the special journals to their corresponding ledger accounts. To confirm that the posting has been performed, a posting reference is recorded in the last row of the special journals. If the total of a column is not required to be posted (because the entries in that column have already been posted on a daily basis) you need to record an X in the post reference field for that column.
3. Bank reconciliation
a. Prepare the bank reconciliation statement as at June 30.
b. Identify and record the relevant reconciling items in the general journal, and post them to the relevant accounts.
4. Unadjusted trial balance
Complete the unadjusted trial balance as at June 30 on the worksheet provided.
Information related to above question is enclosed below:
Attachment:- Spreadsheet_PCU3.rar