Excel Accounting 6–Adjusting Entries & Financial Statements

Explore how to record accrued interest with an adjusting entry in an Excel loan amortization scenario, covering interest payable, end-of-period cutoff, and part 1 of the series.

Learn how to record accrued interest with an adjusting entry using an amortization schedule, posting interest expense and interest payable, and preparing a reversing entry for the general ledger.

Reverse accrued interest on the first day of the following period. In Excel, post the reversal to interest expense and interest payable, then adjust loan payable and cash.

Explore adjusting entries for accounts receivable and sales to align revenue with the proper cut-off on an accrual basis, including inventory, cost of goods sold, and reversing entries.

Demonstrates adjusting and reversing entries in an Excel worksheet to correct accrual-based revenue, inventory, and accounts receivable balances. Explain subledger handling and journal-entry timing affecting the trial balance and equity.

Learn how to treat prepaid insurance as an asset, allocate a twelve-month policy to insurance expense over time, and record a monthly adjusting entry in accrual accounting.

Record depreciation adjusting entries for furniture and equipment. Evaluate category structure, sub-ledgers, and the choice between book and tax depreciation to reflect asset value.

Explore unearned revenue and customer deposits in an Excel practice workbook, and learn to adjust with a journal entry that debits accounts receivable and credits unearned revenue, preparing for invoicing.

Master reversing and adjusting entries for unearned revenue and customer deposits in Excel, including accounts receivable, subledger considerations, and presentation on accrual-basis financial statements.

Learn how to split loan payables into short term and long term portions, set up per-loan accounts, and use amortization tables and reversing entries to prepare accurate financial statements.

Learn how to manage a loan payable in Excel by using adjusting entries to split short-term and long-term portions, then reversing to maintain a single loan account.

Construct year-to-date financial statements in Excel from the trial balance, including balance sheet, income statement, and equity, while exploring sub accounts and presentational cleanup for software needs.

Explore building a condensed balance sheet in Excel by grouping and formatting assets, liabilities, and equity, using sub accounts, totals, and presentation tweaks for clear external reporting.

Create a condensed income statement from the adjusted trial balance by grouping revenue and expenses, calculating gross profit and net income, and linking to the statement of equity.