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Doha Company_Journal to Financial Statements




Question;IT Project Description;You are given;information about Doha Company which is a service company located in Qatar. You;are expected to analyze, record and communicate that information by using Microsoft;Excel. You will need to complete the accounting cycle in the following order;a) Prepare journal entries in the general journal.;b) Post the entries to the general ledger.;c) Prepare the income statement, statement of changes in owners? equity;and balance sheet.;Please note that you will be expected to apply basic Excel applications;such linking the cells and using formulas (i.e. adding and subtracting;information in the different cells). You will be graded on your ability to;complete the accounting cycle by employing Excel functions. Should you need to;type in items that are not available in the provided information, such as;?current asset? in the balance sheet, then please feel free to do so. Additionally;you will need to;1. Find information from the internet regarding the different risks;that are found in companies.;You will need to provide the source (link to the website) from which;you have obtain that information. Alternatively, you can submit a printed copy;of the information obtained from the internet.;2. Please a report write a short report (one page or less) to answer;the following;a);Assume that Doha Company asked;you for a loan. Based on the information in the financial statements, would you;agree to give a loan to the company? Explain your answer.;b);In your opinion, how can information;technology help businesses.;Please Make sure that the report;is in PDF format.;3. Please submit the excel sheet, the risk sheet (from the internet) and;the report via Blackboard.;-;Go to Blackboard;-;Go to "Assessment;Information;-;Click on "IT Project;-;Submit the three files which;are the Excel sheet, risk sheet (from the internet) and the report.;-;Please use your Qatar;University ID number to label the different files.;2;Doha Company purchased additional equipment for;QR 142,000 cash.;3;The company purchased a building for QR 742,000;cash after the board of directors approved the company's expansion policy.;6;The company completed a consulting project for a;client in exchange for QR 572,000 cash.;8;Purchased equipment by paying QR 117,000 cash and;signing a note payable for QR 267,000.;12;Completed consulting services for QR 112,000. The;company will collect the amount within 30 days.;14;Purchased office supplies worth QR 48,000 on;account.;15;Completed consulting services worth QR 135,000.;The amount will be collected at a later date.;17;Doha Company collected QR 71,000 from one of the;clients for amounts owed to the company.;19;The company paid QR 65,000 cash on its accounts;payable.;23;Paid QR 92,000 cash for maintenance of equipment.;28;The company paid QR 82,000 cash for an;advertisement in the local newspaper for the month of October.;30;Paid QR 342,000 for employee salaries.;31;An analysis of the company?s insurance policies;revealed that QR 47,000 worth of insurance has expired.;31;An inventory count shows that cost of supplies;used by the end of the month was QR 82,000.;31;Depreciation expense for the equipment was QR;192,000.;31;The useful life for the building is estimated to;be 15 years. There is no salvage value at the end of that useful life.;31;There are 7 employees that work at Doha Company;and they received their salaries at the end of the week. The work week is;made up of 5 days starting on Sunday and ending on Thursday. Weekly salary is;QR 212,000 and its paid every Thursday. October 31 fell on a Tuesday.;31;The company provided consulting services worth QR;192,000. The customer had paid for that service in a previous period.


Paper#37436 | Written in 18-Jul-2015

Price : $26