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    ACCT 212: Course Project
    Requirement    Requirement Description    Worksheet Name
    1    Prepare the Journal Entries in the General Journal    1 - Journal Entries
    2    Post Journal Entries to the General Ledger    2 - General Ledge
    3    Prepare a Trial Balance    3 - Trial Balance
    4    Prepare the Adjusting Entries    4 &5 - Adjusting Entries
    5    Post Adjusting Entries to the General Ledger    4 &5 -Adjusting Entries ( Use worksheet #2)
    6    Prepare an Adjusted Trial Balance    6- Adjusted TB
    7    Prepare the Financial Statements    7 - Financial Statements
    8    Prepare the Closing Entries    8&9 - Closing Entries ( use worksheet #2)
    9    Post Closing Entries to the General Ledger    8&9- General Ledge
    10    Prepare the Post Closing Trial Balance    10 - Post Closing Trial Balance
    11    Compute Ratios    11-Ratios
    12    Interpret the Ratios    12-Interpretation of Ratios
Project Instructions
        Course Project Overview
            The Course Project consists of 10 Requirements for you to complete. The Course Project is due at the end of Week 6. See the Syllabus section ”Due Dates for Assignments & Exams” for due date information. All of the information you need to complete the Course Project is located in this Workbook.
• There are eight worksheets in the workbook you will need to complete.
• A list of March transactions
• A Chart of Accounts reference sheet
• A Grading Ru
ic to help explain what is expected.
• Each worksheet has the Check Figures embedded as a comment.
        Scenario
            You’ve just secured a new client in your accounting practice, Bethany's Bicycle Corporation (BBC), a
and new small business specializing in bicycle repair. The owner, Bethany Beck, is a te
ific cyclist and bike repair specialist, but definitely not an accountant. Your job is to helpBethany put his affairs in order. Luckily Bethany has only been in operation for a month and things have not gotten too out of hand yet! Bethany has to submit his financial statements to her investors and doesn’t know where to begin. It’s your job to go through the complete Accounting cycle to prepare the financial statements for the BBC.
        Requirements
        Guidelines
            Use the embedded assistance in the template, guidance in your textbook, and examples in the weekly lectures to complete this project. Should you have any questions contact your professor.
            Milestone 1 is due in Week 3 - This includes project requirements 1-3.
            Milestone 2 is due in Week 5 - This includes project requirements 4-10.
            Milestone 3 is due in Week 7 - This includes project requirements 11-12.
Before You Begin:
 Review the Week 2 Lecture prior to starting work on this project.
 Print the Chart of Accounts and October Transactions worksheets for your reference. You will need to refer to both throughout the project.
 Review the Grading Criteria.
 SAVE your work frequently in this workbook.
March Transactions
        During its first month of operation, the Bethany's Bicycle Corporation, which specializes in bicycle repairs, completed the following transactions.
        March Transactions
        Date    Transaction Description
        March 1    Began business by making a deposit in a company bank account of $20,000, in exchange for 2,000 shares of $10 par value common stock.
        March 1    Paid the premium on a 1-year insurance policy, $2,400.
        March 1    Paid the cu
ent month's store rent expense, $1,900.
        March 3    Purchased repair equipment from Andrew Company, $5,800. Paid $1,000 down and the balance was placed on account. Payments will be $400.00 per month for 12 months. The first payment is due 4/1. Note: Use Accounts Payable for the Balance Due.
        March 8    Purchased repair supplies from Jackson Company on credit, $650.
        March 10    Paid telephone bill for March, $340.
        March 11    Cash bicycle repair revenue for the first third of March, $1,650.
        March 18    Made payment to Jackson Company, $400.
        March 20    Cash bicycle repair revenue for the second third of March, $2,450.
        March 31    Cash bicycle repair revenue for the last third of March, $1,250.
        March 31    Paid the cu
ent month's electice bill, $250.
        March 31    Declared and paid cash dividend of $1,000.
Chart of Accounts
        Use the following account descriptions for journal entries.
        Chart of Accounts
        Account Type    Account Number    Account Title    Normal Balance
        Assets
            111    Cash     Debit
            117    Prepaid Insurance     Debit
            119    Repair Supplies    Debit
            144    Repair Equipment     Debit
            145    Accum Dep -Repair Equipment     Credit
        Liabilities
            212    Accounts Payable     Credit
            213    Income Tax Payable    Credit
        Stockholders Equity
            311    Common Stock     Credit
            312    Retained Earnings     Credit
            313    Dividends     Debit
        Revenue
            411    Bicycle Repair Revenue    Credit
        Expenses
            511    Store Rent Expense     Debit
            512    Telephone Expense     Debit
            513    Insurance Expense     Debit
            514    Repair Supplies Expense     Debit
            515    Dep Expense - Repair Equipment     Debit
            516    Income Tax Expense     Debit
            517    Electric Expense    Debit
1 - Journal Entries
    REQUIREMENT #1: Prepare journal entries to record the March transactions in the General Journal below. Remember that Debits must equal Credits—All of your Journal Entries should balance.
    General Journal
    Date    Account Number from Chart of Accounts tab    Account Title from Chart of Accounts tab    Column2    Column1    Debit    Credit
    1-Mar    111    cash            20,000
        311    Common stock                20,000
    1-Mar    117    Prepaid insurance            2,400
        111    Cash                2,400
    1-Mar    511    Rent expense            1,900
        111     Cash                1,900
    3-Mar    144    Repair equipment            5,800
        111     Cash                1,000
        212     Accounts Payable                4,800
    8-Mar    119    Supplies            650
        212     Accounts payable                650
    10-Mar    512    Telephone expense            340
        111     Cash                340
    11-Mar    111    Cash            1,650
        411     Repair revenue                1,650
    18-Mar    212    Accounts Payable            400
        111     Cash                400
    20-Mar    111    Cash            2,450
        411     Repair revenue                2,450
    31-Mar    111    Cash            1,250
        411     Repair revenue                1,250
    31-Mar    517    Electricity expense            250
        111     Cash                250
    31-Mar    313    Dividend            1,000
        111     Cash                1,000
                        38,090
Ha
is, Nicole: Debits = $38,090
    38,090
Ha
is, Nicole: Credits = $38,090
Journal Entries    
Once you've completed this requirement print your General Journal to complete Requirement #2 on the General Ledger worksheet.
2 - General Ledge
        REQUIREMENT #2: Post the March journal entries to the following T-Accounts and compute ending balances.
    Date    Cash (111)
DeVry: The balance of the Cash account after posting journal entries for Part A should be $18,060
.            Date    Bicycle Repair Revenue (411)
        20,000    2,400                1,650
        1,650    1,900                2,450
        2,450    1,000                1,250
        1,250    340
            400                5,350
            250
            1,000
            18,060
        25,350    25,350
        Prepaid Insurance (117)                Store Rent Expense (511)
        2,400                1,900
        Repair Supplies (119)                Telephone Expense (512)
        650                340
        Repair Equipment (144)                Insurance Expense (513)
        5,800
        Accum. Depr.-Repair Equipment (145)                Repair Supplies Expense (514)
        Accounts Payable (212)                Depr. Exp.-Repair Equipment (515)
        400    4,800
            650
        Income Taxes Payable (213)                Income Taxes Expense (516)
        Common Stock (311)                Electric Expense (517)
            20,000            250
        Retained Earnings (312)
            1,000
        Dividends (313)
This worksheet will be used to complete Requirements #2, #5 and #9. Instructions for #5 can be found on the Adjusting Entries Worksheet. Instructions for #9 can be found on the Closing Entries Worksheet.
3 - Trial Balance
    REQUIREMENT #3: Prepare a trial balance for March in the space...