Comprehensive Problem 2 Using General Ledger Software

Student Instructions
Follow the steps below to complete Comprehensive Problem 2 using General Ledger software. To print these instructions, select Print from the File menu.
1. Click on the Save As toolbar button. When the Save As window appears, select the folder in the Save In drop-down list where you wish to save your data files. In the File Name box, key Comprehensive Problem 02 Your Name (for example, Comprehensive Problem 02 John Doe) to identify the file containing your work. Click on the Save button.
2. Click on the Journal toolbar button and key the journal entries for July, 2012 in the General Journal. Key the date of each transaction. After each journal entry is keyed, click on the Post button (or press Enter).
3. Display…show more content…
Make corrections to the journal entries, if necessary. In the General Journal window, click on the entry to correct, then key the correction(s) to the journal entry and click on the Post button (or press Enter).
5. Display the trial balance report. Click on the Reports toolbar button. Click on Ledger Reports and Trial Balance to choose the report to display. To print the report, click on the Print button.
6. Use the trial balance report and key the adjusting entries for July 31, 2012 in the General Journal. Click on the Journal toolbar button. Key July 31, 2012 as the date for each adjusting entry. Key Adj.Ent. in the Refer. column. After each journal entry is keyed, click on the Post button (or press Enter).
7. Display the adjusting entries. Click on the Reports toolbar button. Click on Journals and General Journal to choose a report to display. Click on Customize Journal Report, select Adj.Ent. from the Reference drop-down list, and click on the OK button to display only the adjusting entries.
8. Make corrections to the adjusting entries, if necessary. In the General Journal window, click on the entry to correct, then key the correction(s) to the adjusting entry and click on the Post…show more content…
Display the income statement and statement of owner's equity. Click on the Reports toolbar button. Click on Financial Statements and, one at a time, select Income Statement and Statement of Owner's Equity to choose the reports to display. To print each report, click on the Print button.
11. Click on the Save toolbar button to save your data file.
12. Click on the Check toolbar button to check your solution against the answer key.
13. Perform period-end closing. Select Generate Closing Journal Entries from the Options menu. When the dialog box appears, click Yes to confirm that you wish the computer to generate the closing journal entries. Click on the Post button to post the closing journal entries to the general journal.
14. Display the closing journal entries. Click on the Reports toolbar button. Click on Journals and General Journal to choose the report to display. Click on Customize Journal Report and select Clo.Ent. from the Reference drop-down list. Click on the OK button to display only the closing entries. To print the report, click on the Print button.
15. Display the post-closing trial balance report. Click on the Reports toolbar button. Click on Ledger Reports and Trial Balance to choose a report to display. To print the report, click on the Print