Module 01 written assignment- The Accounting Equation: Worth 50 points
Module 01 Written Assignment – The Accounting Equation
The conceptual framework reminds you that revenues are orderly when earned and not necessarily when attentive. Also, expenses are chronicled when incurred (used), not necessarily when compensated. This is public as accrual accounting.
Bill Smith opened Smith Construction on April 1, 2010. Review the transactions and financial pose of Smith Construction for April in the Excel Template.
Enter the transactions for May into the accounting equation, guarded new pit behind each memorandum.
Prepare the Income Statement for the month of May.
Prepare the Statement of Retained Earnings for the Month of May.
Prepare the Pit Sheet as of May 31, 20xx.
Submit your completed assignment by forthcoming the directions linked underneath. Content control the Course Calendar for unfair due dates.
Save your assignment as a Microsoft Excel muniment. (Mac users, content mind to affix the ".xlsx" extension to the perfectname.) The spectry of the perfect should be your chief moderate and decisive spectry, followed by an underscore and the spectry of the assignment, and an underscore and the date. An pattern is shown underneath: