1. Please do the T-accounts then find the Beginning Balance Assets, Beginning Balance Liabilities, and Beginning balance equity.

2. Find the Ending Balance Assets, Ending Balance Liabilities, and Ending Balance Equity. Please Look the Journal Entry below.

SDunn Mod3_excel assignment.X)SX week5 -Saved Sally Dunn-X File Home Insert Draw Page Layout Formulas Data Review iew Help Tell me what you want to do Share Comments Cut AutoSum-A Calibri Wrap Text General Copy Fill Conditional Fo b atas Styles . I Insert Delete Fonmat B 1 u . . EE ETE E Merge & Center . s-% , .5848 Clear. Fort & Selecta . . Formatting Table Styles Styles Clipboard Font Alignment Number Cells Editing K32 xAccounts Payable A B 4 PartA: 5 Been Carded, Ltd., is a purveyor of woolen goods and is known for its high 6 quality merchandise. The business started up in January 2012 and has been 7 quite successful. Complete the Journal Entries for all 2016 transaction and 8 adjustment information listed below. You do not have to date your journal 9 entries. The first journal entry has been completed for you (15 points-graded 10 facacy and format, including Excel spreadsheet links). 6i Journal Entries: Debit Credit 1 Salaries Payable 8,377 8,377 2 Cash 22,805 To account receivable 22,805 3 Accounts Payable 4 Furniture & Equipment 5 Prepaid Insurance Account 6 Computer Equipment 7 Notes Pyable 8 Mortgage Payable 9 Interest Payable 381,796 Cash 381,796 12 Transaction and Adjustment Data: 13 1 Paid the $8,377 in salaries owed at year end 2015 14 2 Collected the $22,805 of accounts receivable due to them at year end 2015. 15 3 Paid the $381,796 owed on account at year end 2015. 16 4 Purchased additional Furniture & Equipment on January 2, 2016 costing 17 $76,000 due to increased shipping activities for their growing online 18 5 Paid $2,940 to renew their annual insurance policy on March 1, 2016 19 | 6 Purchased a new computerized sales system on April 1, 2016 for S72.000. 20 The system has a useful economic life of 3 years and will be depreciated 21 monthly using the straight line method. The system has no salvage value. 22 7 Made a payment on the long-term note of $92,000. 23 8 Made a payment on the mortgage note of $16,800. 76,000 Cash 76,000 2,940 2,940 72,000 72,000 92,000 92,000 16,800 Cash 16,800 17,257 17,257 a, Daid th intoroct nfc17 757ths+- navahla at vear o Part A; Journal Entries Parts B,C; T-Accounts Parts D,F; Trial Balances Part E; Closing Entry 100% O Type here to search SDunn Mod3_excel_assignment.XSX week5 -Saved Sally Dunn-X Home Insert Draw Page Layout Formulas Review iew Help Tell me what you want to do Share Comments X Cut Copy AutoSum-A Fill ClrFilterSelect Calibri General Conditional Foat atas Styles. Conditional Format as Cell Formatting Table Styles Styles Insert Delete Fonmat 1-2.A. Fite& Selec& B 1 u . E Merge & Center S . % , .5848 . Format Painter ,Clear. Clipboard Font Alignment Number Cells Editing K32 xAccounts Payable A B 24 9 Paid the interest of $17,257 that was payable at year end 2015 25 10 Paid the taxes owed of $109,670 at year end 2015 26 11 Sales of woolen goods for 2016 were $2,542,690. At December 31, 2016, 27 $41,550 of this amount was still listed as receivable 28 12 The total cost of the goods sold during 2016 was $1,652,748. 29 13 Purchased inventory during the year that cost $1,690,000. The company 30 owed $411,050 on these purchases at year end 2016. 31 14 Total Salaries Expense for the year were $97,050 and total interest expense 32 was S14,211. Salaries of $6,420 and interest expense of $14,211 are still 33 4 15 Supplies inventory of $2,677 was purchased with cash during 2016. Total 35 supplies inventory of $578 was still on hand at year end 2016 36 16 Depreciation expense needs to be recorded on the buildings, funiture and 37 equipment, and the new computer system at year end 2016. All items are 38 depreciated on a monthly basis using straight line depreciation with no 39 salvage value. The building has a useful fe of 40 years and the funiture 40and equipment is depreciated over 7 years. As noted above, the new sales 41 System has a useful life of 3 years. Round all depreciation amounts to the 42 17 The Prepaid Insurance and the Supplies Inventory need to be adjusted at 43 yearend 2016 so that the proper amount for insurance expense and 44 supplies expense is recorded. See items 5 and 15 for details. 6i 10 Taxes Payable 109,670 109,670 11 Cash 2,501,140 41,550 Accounts R Sales Revenue Cost of Goods Sold Inventory Invento Accounts Payable 2,542,690 12 1,652,748 1,652,748 13 1,690,000 411,050 1,278,950 payable at yearend 2016. 14 Salaries Expense 97,050 14,211 Interest Expense Salaries Payable Interest Payable 6,420 14,211 90,630 15 Supplies Inventory Cash 2,677 2,677 16 Depreciation Expense-Building 11,750 Depreciation Expense-Furniture and Equipment Depreciation Expense-Computer Equipment Accumulated Depreciation-Building 13,471 20,000 750 Part A; Journal Entries Parts B,C:T-Accounts Parts D,F: Trial Balances Part E Closing Entry 100% 6:17 O Type here to search SDunn Mod3 excel assignment.XISX week5 Saved Sally Dunn-X File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments AutoSum-A Fill Clear Wrap Test General Conditional Format as Cell Formatting Table Styles Insert Delete Fonmat Sort & Find & Filter, Select i !E Merge & Center . $ % , 58 48 Format Painter Clipboard Number Editing xAccounts Payable A B 45 18 Estimated income tax payments of S120,000 were made during the year 2016. 46 19 The company paid out cash dividends totaling $500 to its shareholders. 47 20 The company determined that a customer account was not collectible, and Accumulated Depreciation-Furniture and Equipment Accumulated Depreciation-Computer Equipment Building-1470000)/40 years) 13,471 20,000 wrote off $135 on December 31 by debiting the Allowance for Doubtful 48 Accounts and crediting Accounts Receivable 49 21 The company accrues $507 for estimated bad debts. 50 22 Tax expense is 30% of Income before Income Tax. Furniture & Equipment (18300+76000)/Tyears Computer Equipment-72000/3years 10months/12 17 Supplies Inventory Expense(664+2677-578 17 Insurance Expense (2940?12 10) 18 Income Tax Expense 2,763 Supplies Inventory 2,763 53 54 Background Information: The Balance Sheet for December 31, 2015 is presented here to provide you with the beginning balances needed for your T-Accounts. Prepaid Insurance Account 2,450 120,000 120,000 19 Cash Dividends December 31, 2015 20 Allowance for Doubtful Accounts 135 21 Bad Debts 61 Current Assets 62 Cash 63 Accounts Receivable 348,969 22,805 Allowance for Doubtful Accounts Taxes Expense Taxes Payable 22 218,322 218,322 Part A: Journal Entries Parts B,C; T-AccountsParts D,F: Trial Balances Part E Closing Entry + 100% O Type here to search 6:17 2/22/2019 SDunn Mod3 excel assignment.XISX week5 Saved Sally Dunn-X File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments AutoSum A Fill Clear Cut General Conditional Format as Cell Formatting Table Styles Insert Delete Fonmat Sort & Find & Filter, Select i Format Painter Blu - !E Merge & Center . $ % , 58 48 Clipboard Number Cells Editing K32 xAccounts Payable A B 64 65 Merchandise Inventory 66 Supplies Inventory 67 Allowance for Doubtful Accounts (456) 1,090,844 (2542690, 1652748-97050-1421 1-11750-13471.43-20000-2763-2450-507)"30% 7,188,919 7,188,919 Prepaid Insurance 445 Total Current Assets 1,463,271 70 Property, Plant, and Equipment 71 Land 72 Buildings 73 Accumulated Depreciation--Buildings 74 Furniture and Equipment 75 Acumulated Depreciation--Furniture and Equipment 76 180,000 470,000 (47,000) 18,300 10,457 610,843 Net Property, Plant, and Equipment Total Assets 79 80 81 Current Liabilities 82 Accounts Payable 83 Salaries Payable Liabilities and Stockholders' Equity 381,796 8,377 Part A: Journal Entries Parts B,C; T-AccountsParts D,F: Trial Balances Part E Closing Entry + 100% O Type here to search na)2/22/2019 6:17 SDunn Mod3 excel assignment.XISX week5 Saved Sally Dunn File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments X Cut AutoSum A General Fill Past Copy Conditional Format as Cell Formatting Table Styles Insert Delete Fonmat Sort & Find & Filter Select i Format Painter Blu - !E Merge & Center . $ % , 58 48 Clear Clipboard Number Cells Editing K31 xnventory A B Interest Payable 17,257 109,670 517,100 85 Taxes Payable 86 87 88 Long-term Liabilities 89 Mortgage Note Payable 90 Note Payable 91 92 93 94 95 Stockholders'Equity 96 Common Stock, 5,000 shares issued and outstanding, $10 97 Retained Earnings 98 Total Current Liabilities 381,333 235,000 616,333 Total Long-term Liabilities Total Liabilities 1,133,433 50,000 890,681 940,681 Total Stockholders' Equity 100 101 102 103 Total Liabilities and Stockholders' Equity 2,074,114 Part A: Journal Entries Parts B,C; T-AccountsParts D,F: Trial Balances Part E Closing Entry + 100% O Type here to search 2/22/2019 SDunn Mod3 excel assignment.XISX week5 Excel Sally Dunn File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments AutoSum A Fill X Cut General Pa 3 . 1 u .-g .. - Conditional For ble s Styles . Insert Delete Format Merge & Center $ . % , Sort & Find & Filter, Select . Format Painter Formatting Table Styles Clear. Clipboard Number Cells Editing A1 xModule 3 Assignment 1 Excel Workbook Assignment A B 27 EFGH AC AD AE Land Salaries Payable 29 30 38,377 8,377 BB Insurance Buildi Interest Payable Bad Debt E 35 36 Furniture & Equipment Sales Revenue 38 Depreciation Expense Taxes Payable 41 Accounts Receivable rized Sales Syste Cost of Goods Sold Interest Expense Accum Depr-Building Tax Expense llowance for Doubtful Acc Part A; Journal Entries Parts B,C: T-Accounts Parts D,F: Trial Balances Part E; Closing Entry 1 80% O Type here to search 2:15 2/19/2019 SDunn Mod3 excel assignment.XISX week5 Excel Sally Dunn File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments AutoSum A Fill X Cut General Pa 3 . 1--2 .. conditional For ble sStyles . Conditional Format as Cell Formatting Table Styles Insert Delete Format Merge & Center $ . % , .58 Sort & Find & Filter, Select . Format Painter Clear. Clipboard Number Cells Editing A1 xModule 3 Assignment 1 Excel Workbook Assignment A B EFGH AC AD AE 51 Accum Depr-Furn&E Note Payable 53 Merchandise Inventory 56 ales 58 59 Supplies Invento 56 Part C Solutior Beginning Balance Assets Beginning Balance Liabilities Beginning Balance Equity Ending Balance Assets Ending Belance Liabilities Ending Balance Equity 71 Part A; Journal Entries Parts B,C: T-Accounts Parts D,F: Trial Balances Part E; Closing Entry 80% O Type here to search 2:16 2/19/2019 SDunn Mod3 excel assignment.XISX week5 Excel Sally Dunn File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do Share Comments X Cut AutoSum A Calibri General Fill Pa 3Format Painter.lu Merge & Center $.%,,, Conditional Format as Cell Formatting Table Styles . Insert Delete Fom at Fort& Selec& . . . Cler Clear Filter Select Clipboard Number Cells Editing A1 xModule 3 Assignment 1 Excel Workbook Assignment A B EFGH AC AD AE 4 Part B 5 Post the Journal Entries you made in Part A for Been Carded, Ltd., to the 6 appropriate T-Accounts. Your T-Account entries must be properly linked to 7 your Journal Entry amounts. The first journal entry has been posted to the 8 appropriate T-Accounts for you. DON'T FORGET TO POST THE BEGINNING 9 BALANCES: (15 points-graded for accuracy and format, including Excel 10 11 Part 12 Show calculations below your completed T-Accounts proving that your 13 beginning and ending Accounting Equations balance. (3 points) 15 Check Figures: Ending Cash-$603,317: Total Ending Assets $2.488,690 16 NOTE: Make sure your Total Debits your Total Credits in the T-Accounts! 17 18 T-Accounts Solution: 19 Liabilities Cash id Insurance Common Stock aries&W B8 348,969 8,377 25 26 Retained Earni Supplies Expense Part A; Journal Entries Parts B,C: T-Accounts Parts D,F: Trial Balances Part E; Closing Entry 1 80% O Type here to search 2:15 2/19/2019