ACC 296, Fall 2006
Project 3
Due: Tuesday, November 28, 2006
This project counts as two homework assignments. Your completed spreadsheet should be
submitted as an email attachment to 296@EMUemail.com by Nov 28. It will be graded
based on accuracy, following instructions, timely submission, and presentation quality of
spreadsheet.
The unadjusted trail balance of Vella Plumbing Corporation at March 31, 2005, is as
follows:
Vella Plumbing Corporation
Unadjusted Trial Balance
March 31, 2005
Debit
$ 2,500
2,100
1,500
7,000
Cash
Accounts Receivable
Plumbing Supplies
Equipment
Accumulated Depreciation – Equipment
Accounts Payable
Unearned Service Revenue
Common Stock
Retained Earnings
Service Revenue
Salaries Expense
Utilities Expense
Credit
$ 1,500
1,200
600
6,500
800
3,500
800
200
$14,100
$14,100
Additional information as of March 31:
1.
2.
3.
4.
A physical count reveals only $500 of plumbing supplies on hand.
Equipment is depreciated at a rate of $150 per month.
Unearned service revenue is $100.
Accrued, but unrecorded, salaries are $750.
Required: Prepare a 10-column worksheet for the three-month period from January 1,
2005 – March 31, 2005 using the information above. The worksheet should look similar
in form to Illustration 3-25 on page 87.

First, enter the column headings as shown in Illustration 3-25 on page 87.

Second, enter the account titles given in the trial balance above in the first
column. You may have to add some additional accounts based on the adjusting
entries (e.g., salaries payable)
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
Third, enter the numerical amounts in the cells for the trial balance columns AND
the adjustments columns (i.e., the next 4 columns).

Next, the amounts in the Adjusted Trial Balance, Income Statement and Balance
Sheet columns should be calculated using formulas based on values in the Trial
Balance and Adjustments columns (i.e., don’t simply type in the amounts). Each
formula in the adjusted trial balance should include ALL FOUR appropriate cells
in the trial balance and adjusted trial balance columns. Each formula in the
balance sheet and income statement should include BOTH appropriate cells from
the adjusted trial balanced. I will check check this step by entering a CREDIT
balance in cash (or an non-standard balance in any other account or adjustment)
and see if your spreadsheet handles it correctly.

Make sure you calculate and indicate the totals for the columns B-K. Sum each
column using the Excel function: =Sum( )

Write a formula in the cells below EACH debit total to check for DR=CR.

Ignore income taxes
Your worksheet should be set-up so that it fits on one page using a Landscape orientation.
Use print preview and the setup dialog box to achieve this. I will use print preview to
check this step.
Worksheet Check Figures:
Adjustments credit column total: $2,700
Adjusted Trial Balance debit column total: $15,300
Net Income: $800
Balance Sheet debit column total: $12,100
If you have any questions, please don’t hesitate to contact me.
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