Monopoly Quickbooks You will be tasked with setting up your fictional company and postings your entries into Quickbooks. First follow the following steps.

Slides:

Advertisements

Similar presentations

Mr. Belolan. Objectives 1. Explain the purpose of adjusting and closing entries by journalizing and posting several transactions 2. Using the completed.

Advertisements

Chapter 8 Adjusting and Closing Entries

Finding and Correcting Errors on a Work Sheet Chapter 6, Section 4.

Accounting for a Service Company.  Record Transactions  Prepare a Trial Balance  Make Adjusting Entries  Prepare an Adjusted Trial Balance  Financial.

Recording Adjusting and Closing Entries for a Service Business Chapter 8, Section 3.

Chapter 10: Completing Quarterly Activities & Closing Fiscal Year Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.

Recording Adjusting and Closing Entries for a Partnership

Closing the Accounting Cycle

ACTG 2110 Chapter 4 – Completing the Accounting Cycle.

Week 6.  Need to update certain general ledger accounts at the end of the fiscal period.  Reflect “internal” transactions ◦ Supplies used ◦ Prepaid.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 16-3 Preparing a Post-Closing Trial Balance.

Closing Entries The Why and the How….. Closing Temporary Accounts Income Summary Revenue Expenses We close revenue and expense accounts into a temporary.

At the end of the accounting period, the company makes the accounts ready for the next period. Closing the Books SO 2 Explain the process of closing the.

LESSON 8-3 Preparing a Post-Closing Trial Balance

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance.

Closing Entries. Reminder For those that were not here on Friday, please remember that your third major test is on THURSDAY or FRIDAY (depending on Assembly)

Recording and Adjusting Closing Entries. 2LESSON 8-1 ADJUSTING ENTRY FOR SUPPLIES 1 2 page Write the title of the account credited. Record the.

Meaning, Objectives and Terminology of Accounting.

Accounting Theory.  Accounting Period Cycle ◦ Preparing financial statements at the end of each fiscal period  Adjusting Entries ◦ Journal entries recorded.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8 Recording Adjusting and Closing Entries for a Service Business.

Chapter 5 Accounting Cycle and Year End Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 16-3 Preparing a Post-Closing Trial Balance.

Accounting 11 Adjustments. Adjustments on a Work Sheet Adjustments are accounting changes recorded to ensure that all account balances are correct. The.

M i n d From Australia Version : MYOB 13, MYOB 15, MYOB 17 and MYOB 18 From Australia Version : MYOB 13, MYOB 15, MYOB 17 and MYOB 18 Y o u r O w n B u.

Closing Entries Chapter 9.3 & 9.4. We’re almost done, let’s finish it up! Post the Adjusting & Closing Entries to the Ledger Journalize the Adjusting.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance.

© 2000 South-Western Educational Publishing POST-CLOSING TRIAL BALANCE Write the heading. 2.Write titles of all general ledger accounts with balances.

Chapter 11: Completing Quarterly Activities and Closing the Fiscal Year Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or.

ADJUSTED TRIAL BALANCE

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 16-3 Preparing a Post-Closing Trial Balance  Completed general ledger  Post-closing.

Chapter 11: Completing Quarterly Activities and Closing the Fiscal Year McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights.

Chapter 7 Analysis and Reports− End of Fourth Quarter and Year Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 14.

Chapter 8 Recording Adjusting and Closing Entries TEST = 150 Points.

Chapter 5 Accounting Cycle and Year End 1 Copyright ©2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Accounting November 7, 2014 Begin Chapter 6 notes WT/OYO/Application for 6-1 and 6-2.

Chapter 10 March Source Documents and End of First Quarter Copyright ©2017 by McGraw-Hill Education. All rights reserved. 1 of 11.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 8-3 Preparing a Post-Closing Trial Balance.

DEVRY ACCT 251 W EEK 6 Q UIZ Check this A+ tutorial guideline at For more classes visit

ACC 225 Week 2 Assignment Preparing Journal Entries and Trial Balances · Resource: Fundamental Accounting Principles, pp. 76 and 80 · Complete Exercises.

Computer Accounting with QuickBooks 2015

Preparing for New Fiscal Years – 8.3

BAF3M Depreciation Expense.

LESSON 8-1 Recording Adjusting Entries

Accounting I Chapter 9 – Recording Adjusting & Closing Entries for a Service Business.

Adjusting, Closing, and Reversing Entries for a Corporation

Recording Adjusting and Closing Entries

Computer Accounting with QuickBooks 2015

Assignment: Accounting 201 Review Cornelian Window Washing

Post-Closing Trial Balance

Computer Accounting with QuickBooks 2012 Chapter 10

© 2014 Cengage Learning. All Rights Reserved.

During the period Communicate End of period. During the period Communicate End of period.

Chapter 10 Completing Quarterly Activities and Closing the Fiscal Year

8.3 Preparing for New Fiscal Years

POST-CLOSING TRIAL BALANCE

Sheraz Limited is a manufacturing company

Financial Statements Review

إعداد القوائم المالية Preparation of Financial Statements

Lesson 26-4 ADJUSTING ENTRIES Lesson 26-4, page 675.

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-1 Recording Adjusting Entries

LESSON 8-3 Preparing a Post-Closing Trial Balance

Recording Adjusting and Closing Entries

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-1 Recording Adjusting Entries

Completing the accounting cycle

Events affecting Year 1: 1. Provided $46,000 of services on account.

LESSON 8-3 Preparing a Post-Closing Trial Balance

Presentation transcript:

Monopoly Quickbooks You will be tasked with setting up your fictional company and postings your entries into Quickbooks. First follow the following steps for set up. You will only need to adjust quickbooks for ONE student 1. Download Charter of Accounts from teacher website 2. Open Charter and adjust Partner A and Partner B to your names, save and close Ex. M. Bui, Capital and J. Smith, Capital 3. Log into Quickbooks, use the following link to wipe all the data from the previous Quickbooks exercise https://ca.qbo.intuit.com/app/purgecompany

Set Up Continued 4. Go to advanced settings, change company to: “Your Company Name (Your Names)” Set fiscal year to June Ensure Account numbers are shown and checked on 5. Go to Accounting and import your charter of accounts 6. Go to taxes and set taxes to British Columbia, Business Number 123456789 7. Post your opening entry using Journal. Most transactions will follow the journal.

Upon Completion 1. Print out the following from reports: Balance Sheet Profit & Loss Statement Journal 2. Type up your reflection from your assignment sheet. 3. Place everything together in order of your assignment sheet, paperclip all your sheets and place your entire folder into the hand in tray 4. Congratulations, you have finished accounting 11!!!