Financial Accounting, Business Accounting ANd you, Pennfoster , Graded project

The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.:

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  • Balance sheet

  • Income statement

  • Statement of retained earnings

  • Post-closing trial balance

The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading.

INSTRUCTIONS

Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what
is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order

to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project.

The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading.

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Graded Project

Graded Project

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