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Adjustments and financial statements

Please refer to instruction sheet.

PROBLEM 4-6- STILLMORE INVESTIGATIONS - ADJUSTMENTS

Instructions to record the adjustments and prepare financial statements for Stillmore Investigations for the month of December, 2005.

Instructions. You will need a small calculator to complete the assignment.

1) Enter the adjustments from the text in the accounts listed on the attached
Spreadsheet.
2) Upon entering the adjustments, calculating totals, and entering the balance of each account on either the left OR right side of the last row, as appropriate, you are to prepare the two statements on Sheet 2. Note: The account balances you enter on Sheet 1 will automatically be carried forward to Sheet 2.
3) Print out this instruction sheet to remind yourself of the instructions.
4) When you are ready to begin, activate the link below to download the spreadsheet, where you will enter the required information.
5) Enter your name on the first page of the spreadsheet in the box shown. Note: Failure to do so will cause your work not to be identified. When asked, Don't Update!
6) When you are finished, save the spreadsheet and upload it to the Dropbox under "Stillmore-Problem4-6".

Requirements:

1) Record the adjustments in the accounts, using the designated letter shown on Page 160 of the text as adjustment reference. Do
not leave spaces between entries or opening balances when entering
adjustments.
2) Prepare an income statement and a balance sheet as listed on Sheet 2.

Note: The adjustments are listed in the text on Page 160.

Instr-Prob4-6-stillmore

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Solution Summary

The solution explains how to record the adjustments and prepare the financial statements

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