Acct 315 Excel In Class Financial Statements

Overview In this assignment, you will expand on your prior Excel work by analyzing three months of accounting data (January–March) and preparing formal financial statements using Excel formulas. Excel Financial_Statements-1.xlsxDownload Excel Financial_Statements-1.xlsx You will: • Analyze transaction-level data • Prepare an Income Statement • Prepare a Balance Sheet • Create charts to support financial analysis This assignment emphasizes proper Excel formula usage, financial statement structure, and clear presentation of results. Learning Objectives By completing this assignment, you will be able to: • Use SUMIFS and XLOOKUP/VLOOKUP to summarize accounting data • Prepare an Income Statement and Balance Sheet in Excel • Analyze multi-period (monthly and quarterly) financial data • Create charts that communicate financial performance Files Provided Download the Excel file provided in this assignment: Excel_Assignment_2_Financial_Statements_Jan-Feb-Mar.xlsx This workbook contains: • Transactions (Jan–Feb–Mar transaction data) • Trial_Balance_Mar31 • Income_Statement (template) • Balance_Sheet (template) Instructions Step 1: Review the Data Open the Excel file and review the Transactions tab. The data includes: • Date • Transaction Type (Revenue or Expense) • Account • Amount • Notes You will use this data to calculate totals by account and by month.