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Before preparing the T-Accounts make sure that all journal entries are corrected so that the ending balance in the T-Accounts will be correct. Find the ending balance for each account. Do this by creating a T-account for each account in an Excel Spreadsheet as shown in the template after the instructions here. Put all debits and credits in each account and calculate the ending balance. All accounts that were used in the Chart of Accounts should be included and if the account has a zero balance place the zero on the normal balance side. Once you finish preparing all the balances in each account, use the spreadsheet to answer the questions in Blackboard. In Blackboard the question will be the same for each account. What is the balance in Account number 10000 (or whatever account it asks) and what is the normal balance? Since it asked for account number 10000 that is the cash account and then enter as your answer below: Dr $10,500.00 This will be done for each account. Use the spreadsheet to answer the questions in Blackboard. Once you complete answering the questions in Blackboard then upload your T-Account Spreadsheet to Blackboard following the instructions below: Step 1: Create an Excel spreadsheet with all the T-Accounts and input the numbers from the transactions into the proper account and calculate the ending balance in each account and input the balance on the normal balance side. Once completed print out the spreadsheet. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard in the content folder in the corresponding week. Step 3: Once you complete entering information into Blackboard, upload the T-Accounts spreadsheet into Blackboard. A template for the T-Accounts follows. Some accounts such as cash will require more than just one or two lines. Requirements 1. Correct Errors: Correct any errors that you made on the journal and adjusting journal entries before entering the information into the T-Accounts. 2. Account Balances: Once you have completed entering the transactions then prepare the ending balance in each account. Cash 10000 Debit Credit Accounts Receivable 11000 Debit Credit Inventory-26" 12000 Debit Credit Inventory-20" 12050 Debit Credit 0 0 Office Supplies 13000 Debit Credit Shipping Supplies 13050 Debit Credit Prepaid Rent 14000 Debit Credit Prepaid Insurance 14050 Debit Credit Bike Racks 15000 Debit Credit Accumulated Depr. Bike Racks 17000 Debit Credit Computer Equipment 15100 Debit Credit Accumulated Depr. Computer Equipment 17100 Debit Credit Accounts Payable 20000 Debit Credit Wages Payable 23200 Debit Credit Interest Payable 23250 Debit Credit Sales Tax Payable 23300 Debit Credit Utility Payable 23400 Debit Credit Note Payable - Wells Fargo 27000 Debit Credit 111 Pape Note Payable - Computer Inc. 27050 Debit Credit Common Stock 39003 Debit Credit Retained Earnings 39005 Debit Credit Dividends 39007 Debit Credit Sales 40000 Debit Credit COGS 50000 Debit Advertising & Promotion Expense 60100 Debit Credit Bank Service Fee 60200 Debit Credit Credit Credit Card Expense 60300 Debit Credit Dues & Registration Expense 60400 Debit Credit Delivery Expense 60500 Debit Credit Insurance Expense 60600 Debit Credit Interest Expense 60700 Debit Credit Legal Expense 60800 Debit Credit Office Supplies Expense 60900 Debit Credit Shipping Supplies Expense 61000 Debit Credit Utility Depreciation Expenses 61100 Debit Credit Rent Expense 61200 Debit Wage Expense 61300 Debit Expense 61400 Debit Credit redit Credit Gas Expense 61500 Debit Credit 12

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