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Question Answered step-by-step Please show work Please show work Image transcription textFortune Magazine (March 1997) reported the average returns to investors for the 10 years prior to 1996 andalso for Fiscal Year 1996 for a sample of ten companies. The data is listed below 1986 to Firm 1995 Fiscal Year1996 Coca-Cola 29.8% 43.3% Mirage Resorts 27.9% 25.4% Merck 22.1% 24.0% Microsoft 44.5% … Show more… Show more Math Statistics and Probability STAT 3720 Share QuestionEmailCopy link Comments (0)

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Description IntroductionUnit 1 includes the completion of a basic systems case as part of the review of earlier accounting course work. The case requires completion of an entire accounting cycle for a retail company using both paper records and Excel spreadsheets. The first part of the case is completed manually and the latter part requires the use of Excel.The objective of this case is to refresh and solidify your knowledge of the accounting system. Your instructor is available to answer questions and provide feedback throughout assuming you reach out in a timely manner. The objective is for each of you to accurately complete this case.Should you get stuck and need instructor assistance, be sure to send pictures, screen shots, or your Excel document to your instructor as part of your explanation.DirectionsDownload the following the case materials:Ch. 3 Basic Systems Case - Student Materials - Print it out. Complete requirements #1 & 2 (Regular Journal Entries and Posting) manually using the journal and ledger provided in the student materials. Because specific dates are not provided in the case, just label your journal entries according to the case (a, b, c, etc.)The following recording provides additional guidance. Be sure to view this.AC320 Chapter 3 Accounting for Retailer & Introduction to AIS Case (Links to an external site.)Download the following case spreadsheet:Ch. 3 Basic Systems Case Spreadsheet for Students - Use this document as you complete case requirements #3-5. The following recording provides additional guidance for this portion of the case. Be sure to view this.AC320 AIS Case Completing WTB and Financial Statements (Links to an external site.)If you need additional guidance on using Excel, the following optional recording was created about Excel in general. AC320 Excel Spreadsheet Basics and Excel Charts (Links to an external site.)Complete Requirement #3 (Adjusting Entries) using the AIS Case tab in the Excel document. Here are a couple short videos if you are having trouble problem-solving for the necessary adjustments.1 - A review of transaction analysis (Dr/Cr rules) and recording of renthttps://youtu.be/Zt5taHEETqA (Links to an external site.)2 - Accrual of interesthttp://youtu.be/jn7QzXykjQ8?hd=1 (Links to an external site.)Complete Requirement #4 using the Financial Statements tab. You may create additional sheets if you prefer to use a separate sheet for each financial statement. Notice the second sheet is not formatted for you because you are expected to fully design the financial statements.Complete Requirement #5 using the AIS Case tab.Case check figures: Total Debit/Credits for the unadjusted Trial Balance 138,000Total Debit/Credits for Adjusted Trial Balance141,350Total Debit/Credits for Post-Closing Trial Balance103,100Net Income 2,850Total Assets 100,100Complete Requirement #6 (Closing Entries) using the manual documents. (Recall that you can find information about closing entries in the textbook as well as a video in Wiley Course Resources.)Submit both your Excel document and the manual portion of the case (journal and ledger). You will need to scan your manual documents to submit those. If you don’t have this capability, take digital pictures of your manual documents and upload those. Tags: common stock accounts receivables Unearned Revenue Note payables Wage expenses User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
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