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Scenario for Parts 2–4
Imagine that you have been given (found in the assignment
Scenario for Parts 2–4
Imagine that you have been given (found in the assignment template) June 20XX financial transaction data provided by Moonlight Drive-In Theater and have been asked to prepare specified financial statements.
Instructions
Complete each of the following assignment parts in sequence using the Week 1 Assignment Template [XLSX] Download Week 1 Assignment Template [XLSX]. All parts of the template should be submitted together. Each section of the template corresponds to one of the following assignment parts.
Part 1: Describe the accounting environment.
Part 2: Prepare an income statement.
Part 3: Prepare a statement of retained earnings.
Part 4: Prepare a balance sheet.
Part 1: Accounting Environment
Respond to the short-answer accounting environment questions found in the template on the Accounting Environment tab using proper grammar and language.
Part 2: Income Statement
Prepare an income statement for June 20XX. Note: Make sure to identify account names and the amounts.
Part 3: Statement of Retained Earnings
Prepare a statement of retained earnings for June 20XX using the information in Part 2.
Part 4: Balance Sheet
Prepare a balance sheet as of June 30, 20XX, using the information in Part 2. Make sure to identify account names and the amounts.
Save and submit your completed template to this assignment.
Your submission will also be graded on the clarity and quality of your write. So, make sure you are writing in complete and grammatically correct sentences.
Competencies Measured
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NB: All your data is kept safe from the public.