Option #1: Venture Consultants, Power and Demolition Company, and Warnerwood Accounting Cases
Portfolio Project Option #1 is for accounting students who are sensing learners, and learn best from concrete materials and examples. If this is your learning style preference, you are practical and careful with detail. For this assignment, you are required to complete all three accounting cases: Venture Consultants, Power and Demolition Company, and Warnerwood. You will then present Parts 1, 2, and 3 of the Portfolio Project in Excel as journal entries, following the exact instructions that accompany each part.
Denzel Brooks opens a web consulting business called Venture Consultants and completes the following transactions in March:
The following unadjusted trial balance is for Power and Demolition Company as of year-end for the April 30, 2015 fiscal year. The April 30, 2015 credit balance of the owner's equity account is $46,900, and the owner invested $40,000 cash in the company during 2015.
The Warnerwood Company uses a perpetual inventory system. It entered the following purchases and sales transactions for March into the system: