Chapter 6 - OPJ Mini-Project
Solid Footing 13e
Project is Activated
Save your project by following these directions - - - - - - - - - - - - - - -
As
... [Show More] you work on your project, be sure to save your file often.
Instructions:
You will be recording the March 2021 transactions for OverPriced Jeans, Inc. (OPJ). After
recording the March transactions you will be preparing a Pre-Closing Trial Balance, Income
Statement, Calculation of Retained Earnings, Balance Sheet, and Post-Closing Trial Balance.
You are given the following:
To Complete Your Workbook do the following:
Use YOUR Transaction sheets -- do not use another student's sheets
your entries directly into the General Journal. Look at the March 1 Common Stock
transaction, which has already been entered, for an example of how to make your entries.
as a reference source for the Account Numbers and Account Names that are available
in OPJ's accounting system.
Record your postings directly into the General Ledger. As you post an amount to an account
the first posting to the Cash-Big Bank account for an example. After you post an amount to a
General Journal. This will help you keep track of which entries you have posted.
_ March transactions and Additional Information -- Trans tab
_ Chart of Accounts with Account Numbers and Account Names -- Chart Accts tab
_ General Journal pages -- Journal tab
_ General Ledger -- GL Assets, GL Liab-Equity, GL Rev-Exp tabs
_ Forms for the March 31: Pre-Closing Trial Balance (Trial Bal tab), Income Statement and
Calculation of Retained Earnings (IS & RE tab), Balance Sheet (BalSht tab), and
Post-Closing Trial Balance (Post Close TB tab)
_ Print the March Transactions (click the Trans tab and then click the Printer Icon)
_ Print the Chart of Accounts (click the Chart Accts tab and then click the Printer Icon)
_ Record the March transactions in the General Journal. Click the Journal tab and record
Do not put the "X" in the Posted column at this time. Use the printed Chart of Accounts
_ To make posting from the General Journal to the General Ledger easier, it is recommended that
you print the General Journal -- click the Journal tab and then click the Printer Icon.
_ Post the entries from the printed General Journal to the General Ledger accounts. Click the
GL Assets, GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted.
be sure to enter the General Journal Page # into the Journal Page # column. See
General Ledger account, then hand write an "X" in the Posted column of the printed
_ Enter the "X"s, which you hand wrote on your General Journal pages, into the
General Journal. Click the Journal tab and enter the "X"s in the Posted column [Show Less]