Cash Flows Shareholders Equity Adjustments Balance Sheet

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Hartford General Store, Inc.

Student # 1:

Student # 2:

Instructions

1. Using the Chart of Accounts provided, record the transactions in the General Journal. Do not add new accounts.
Be sure to include a brief description of the transaction.

2. Post the General Journal entries to the General Ledger.

3. Prepare the Unadjusted Trial Balance in the Trial Balance tab.

4. Journalize any adjusting entries in the General Journal and post to the General Ledger.
Show your calculations for the adjustments in the Adjustments tab.

5. Prepare the Adjusted Trial Balance in the Trial Balances tab and complete the worksheet.

6. Prepare the Balance Sheet, Income Statement, Statement of Shareholder’s Equity, and Statement of Cash
Flows (direct method) for the period of July 1 – July 31, 20xx. Ignore the effects of income tax.

7. Close the temporary accounts and record the closing entries in the General Journal.
Post the closing entries in the General Ledger.

IMPORTANT NOTE: This case must be completed in Excel or another spreadsheet program saved in an xls. format.
Submissions that are not in xls. format will not be accepted.
See Blackboard and the syllabus for additional information and due date.

Check figures:
Unadjusted Trial Balance Totals = $189,500.00
Adjusted Trial Balance Totals = $194,397.50
Net Income = $802.50

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