Using the information above, create a report in Excel for 2015 and 2016 showing the company's: 1) Number of stores (Average for the year) 2) Sales revenues 3) Inventory 4) Capital expenditures (net) for the year For simplicity, assume that in 2016, Home Depot's sales revenues will grow, but only because it will open new stores. At this time, Home Depot is not sure how.many stores it will open in 2016, so you are tasked with creating a spreadsheet that will automatically update based on the input provided. For example, if one enters that 10 new stores will be opened in 2016, the 2016 column should update with the new correct information. If 20 stores are entered, then the 2016 column should update with these new calculations. Assume that each new store that is opened will only be open for business for an average of one-half of the year.
The Effect Of Prepaid Taxes On Assets And Liabilities
Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can result in prepaid assets and liabilities.
Final Accounts
Financial accounting is one of the branches of accounting in which the transactions arising in the business over a particular period are recorded.
Ledger Posting
A ledger is an account that provides information on all the transactions that have taken place during a particular period. It is also known as General Ledger. For example, your bank account statement is a general ledger that gives information about the amount paid/debited or received/ credited from your bank account over some time.
Trial Balance and Final Accounts
In accounting we start with recording transaction with journal entries then we make separate ledger account for each type of transaction. It is very necessary to check and verify that the transaction transferred to ledgers from the journal are accurately recorded or not. Trial balance helps in this. Trial balance helps to check the accuracy of posting the ledger accounts. It helps the accountant to assist in preparing final accounts. It also helps the accountant to check whether all the debits and credits of items are recorded and posted accurately. Like in a balance sheet debit and credit side should be equal, similarly in trial balance debit balance and credit balance should tally.
Adjustment Entries
At the end of every accounting period Adjustment Entries are made in order to adjust the accounts precisely replicate the expenses and revenue of the current period. It is also known as end of period adjustment. It can also be referred as financial reporting that corrects the errors made previously in the accounting period. The basic characteristics of every adjustment entry is that it affects at least one real account and one nominal account.
THIS IS NOT A WRITING ASSIGNMENT.
THIS IS AN ACCOUNTING EXCEL PRACTICE PROBLEM.
PLEASE ANSWER THE QUESTION IN THE FORMAT OF AN EXCEL SPREADSHEET WITH FORMULAS.
PLEASE READ INSTRUCTIONS CAREFULLY IN THE PICTURE I ATTACHED.
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