Excel Project See document “Excel Project Data – Adj Trial Balance”. You are pr

Excel Project
See document “Excel Project Data – Adj Trial Balance”. You are provided with an adjusted trial balance for Kelley Consulting. Use this data to complete the following:
1. In Excel, create three separate worksheets within your workbook (excel file) and rename the sheets: IS, OE and BS. Save the Excel workbook as Excel_Project_YourName.
2. Use the data provided to create the company’s three main financial statements.
a. IS worksheet – Create the Income Statement
b. OE worksheet – Create the Statement of Owners Equity
c. BS worksheet – Create the Balance Sheet
3. See document “Excel Project Data – Fin Statement Template” for reference when completing the steps below.
4. Income Statement specific requirements
a. Follow heading, underlining and column formatting as presented.
b. Total Expenses must be a FORMULA
i. You can add up the individual cells or use the SUM function
1. See youtube tutorials on how to create these basic formulas
c. Net Income/Loss must be a FORMULA
i. You will be subtracting Total Expenses from Fees Earned
5. Statement of Owners Equity specific requirements
a. Follow heading, underlining and column formatting as presented.
b. Net Income must “flow” from the IS worksheet
i. You must use a cell reference to “push” Net Income into the correct cell on the OE worksheet
1. See youtube tutorial on cell referencing.
c. Increase in owner’s equity must be a formula.
d. Ending Capital must be a formula that adds beginning capital to Increase in owner’s equity.
6. Balance Sheet specific requirements
a. Follow heading, underlining and column formatting as presented.
b. Total current assets must be a formula.
c. Total property, plant and equipment must be a formula. It will be the book value of the Office Equipment.
d. Total Assets must be a formula
e. Total liabilities must be a formula
f. Capital under Owners Equity section must be a cell reference from the OE worksheet
Total Liabilities and Owners Equity must be a formula