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Instructions:
You will be recording the March 2017 transactions for OverPriced Jeans, Inc. (OPJ). After
recording the March transactions you will be preparing a Pre-Closing Trial Balance, Income
Statement, Calculation of Retained Earnings, Balance Sheet, and Post-Closing Trial Balance.
You are given the following:
! “#$%& ▹$#()#%▹*+() #(, -,,*▹*+(#. /(0+$1#▹*+( 22 ⌃$#() ▹! 5&#$▹ +0 -%%+6(▹) 7*▹& -%%+6(▹ 86149$) #(, -%%+6(▹ 8#19) ! :9(9$#. ;+6$(#. <#=9) 22 ;+6$(#. ▹#4
! :9(9$#. >9,=9$ 22 :> -))9▹)? :> >*#42@A6*▹B? :> C9! F+$1) 0+$ ▹&9 “#$%& GHI J$925.+)*(= ⌃$*#. K#.#(%9 L⌃$*#. KCalculation of Retained Earnings (IS & RE tab), Balance Sheet (BalSht tab), and
Post-Closing Trial Balance (Post Close TB tab)
To Complete Your Workbook do the following:
! J$*(▹ ▹&9 “#$%& ⌃$#()#%▹*+() L%.*%O ▹&9 ⌃$#() ▹#4 #(, ▹&9Use YOUR Transaction sheets — do not use another student’s sheets
! J$*(▹ ▹&9 5&#$▹ +0 -%%+6(▹) L%.*%O ▹&9 5&#$▹ -%%▹) ▹#4 #(! C9%+$, ▹&9 “#$%& ▹$#()#%▹*+() *( ▹&9 :9(9$#. ;+6$(#.P 5.your entries directly into the General Journal. Look at the March 1 Common Stock
transaction, which has already been entered, for an example of how to make your entries.
Do not put the “X” in the Posted column at this time. Use the printed Chart of Accounts
as a reference source for the Account Numbers and Account Names that are available
in OPJ’s accounting system.
! ⌃+ 1#O9 <+)▹*(= 0$+1 ▹&9 :9(9$#. ;+6$(#. ▹+ ▹&9 :9(9$#. >9you print the General Journal — click the Journal tab and then click the Printer Icon.
! J+)▹ ▹&9 9(▹$*9) 0$+1 ▹&9 <$*(▹9, :9(9$#. ;+6$(#. ▹+ ▹&9 GL Assets, GL Liab-Equity, and GL Rev-Exp tabs to find the accounts to be posted.
Record your postings directly into the General Ledger. As you post an amount to an account
be sure to enter the General Journal Page # into the Journal Page # column. See
the first posting to the Cash-Big Bank account for an example. After you post an amount to a
General Ledger account, then hand write an “X” in the Posted column of the printed
General Journal. This will help you keep track of which entries you have posted.

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