Project 1
1. Project 1
1.3. Page 3
Project 1: The Worksheet
Time to Practise
There are three opportunities for you to practise. It is recommended that you complete at least Practice 1 to prepare you for your Time to Work assignment, which will be submitted for assessment. Practice 2 and Practice 3 are opportunities for further practise, if needed.
For a review of which side is the add side and which side is the subtract side, refer to Analyzing Transactions. If you need to access this information later, it will be available in the course Toolkit.
Practice 1
The numbers to complete a worksheet come from the general ledger. Open this ledger, and save it in your course folder.
Complete Practice 1 Ledger by calculating any new balances and indicating either a DR or CR balance in the indicator column.
Open Worksheet Template, and save it in your course folder.
Complete the heading of the worksheet for CHOO TV for the month ended October 31 of the current year.
Complete the trial balance section of the worksheet and save it.
If the trial balance does not balance, refer to Finding Errors. This is a very handy support on what to do when the credit and debit numbers do not match. If you need to access this information later, it is available in the course Toolkit.
Go to How the Balances Were Calculated.
If you need more practice, continue on to Practice 2.
If you are ready to do the assignments for this training room, let your teacher know and continue on to Time to Work.
Practice 2
The account titles and balances for Quick Cleaning Company are as follows:
Cash: |
3000.00 |
Hint: Sort these accounts into the appropriate types first; e.g., assets, liabilities, owner’s equity, revenue, and expenses.
Step 1: Open Worksheet Template, and save it in your course folder.
Step 2: Complete the heading of the worksheet for Quick Cleaning Company for the quarter ended March 31 of the current year.
Step 3: Give each account an appropriate account number. Use a four-digit account numbering system. For example, Cash will be 1001. Place in numerical order in the worksheet.
Step 5: Complete the trial balance section of the worksheet and save.
You can check your answers using Quick Cleaning Completed Worksheet.
If you need more practice, continue on to Practice 3.
If you are ready to do the assignments for this training room, let your teacher know and continue on to Time to Work.
Practice 3
The account titles and balances for Koch Moving and Storage are as follows:
Cash: |
4546.00 |
Hint: Sort these accounts into the appropriate types first; e.g., assets, liabilities, owner’s equity, revenue, and expenses.
Step 1: Open Worksheet Template, and save it in your course folder.
Step 2: Complete the heading of the worksheet for Koch Moving and Storage for the year ended December 31 of the current year.
Step 3: Give each account an appropriate account number. Use a four-digit account numbering system. For example, Cash will be 1001. Place in numerical order in the worksheet.
Step 4: Complete the trial balance section of the worksheet and save.
You can check your answers using Koch Moving and Storage Completed Worksheet.
If you need more practice, you may redo these practices or see your teacher for help.
If you are ready to do the assignments for this training room, let your teacher know and continue on to Time to Work.