1. Read the following Case carefully and answer the required questions. All necessary workings should be shown. Where appropriate, secondary sources of information used in your report should be referenced accordingly. All solutions must be in a MS Word format, font 12, margins of 1 inch all sides on letter-sized paper and doublespaced except for numerical workings which can be single-spaced. 2. Submission deadline: June 16, 2023, at end of day is through Brightspace. 3. Late assignments without prior consent will be penalized at the instructor's discretion. It is the student's responsibility to inform the instructor as soon as possible of the circumstances regarding a late assignment. Assignments are considered late if they are not submitted to the professor by the submission date and time. 4. When there is academic dishonesty of any form, the instructor reserves the right to assign the normal default grade' of zero on the assignment in question. There will be no supplementary exam or assignments for individuals who have breached this code of conduct. You are responsible for the contents of the assignment and subject to the default grade. In this course, your assignment might be submitted to electronic verification for the detection of plagiarism. INSTRUCTIONS: 1. Please read all the questions and answer them all. Please include a cover page with relevant information and a bibliography if applicable. 2. When using excel ensure to import into the case as required. 3. Round to two (2) decimals as required. CASE: Need Help The year end for Acme Plastics Ltd. was just completed. Prior to sending the information to the external accountant Need Money, LLP. Rondo the owner wants the internal accounting team led by Laura to complete the financial statements starting with the unadjusted trial balance as of March 31, 2023. The following is the unadjusted trial balance as of March 31, 2023: The following was reviewed with Rondo and Laura and agree to the following adjustments for the year ended March 31: a) Physical Inventory counts shows $155,000 of supplies on hand. b) Prepaid rent at March 31 should be $13,000. c) Depreciation for 2023 is $75,000. d) Unearned Revenue should be $41,000. e) Wages in the amount of $40,000 are owed but unpaid and not recorded at yearend. f) 3 months' interest at 8% on the note was paid on May 31. Interest for the period from January 1 to March 31 is not paid and not recorded. g) Income tax of $125,000 is owed but not recorded and unpaid. Rondo wants Laura to provide him with the adjusting journal entries as well as the statement of earnings, statement of retained earnings and the statement of financial position. In addition, Rondo also wants Laura to review the cash and bank information below and prepare a bank reconciliation for the present month, May 31, 2023. What will be the amount reported for cash on the statement of financial position at May 31, 2023. The following is the information at April 30th regarding the cash account: The bank statement for Acme Plastics for May is as follows: Comparing accounting system records to Bank Statements the following is provided: 1. Read the following Case carefully and answer the required questions. All necessary workings should be shown. Where appropriate, secondary sources of information used in your report should be referenced accordingly. All solutions must be in a MS Word format, font 12, margins of 1 inch all sides on letter-sized paper and doublespaced except for numerical workings which can be single-spaced. 2. Submission deadline: June 16, 2023, at end of day is through Brightspace. 3. Late assignments without prior consent will be penalized at the instructor's discretion. It is the student's responsibility to inform the instructor as soon as possible of the circumstances regarding a late assignment. Assignments are considered late if they are not submitted to the professor by the submission date and time. 4. When there is academic dishonesty of any form, the instructor reserves the right to assign the normal default grade' of zero on the assignment in question. There will be no supplementary exam or assignments for individuals who have breached this code of conduct. You are responsible for the contents of the assignment and subject to the default grade. In this course, your assignment might be submitted to electronic verification for the detection of plagiarism. INSTRUCTIONS: 1. Please read all the questions and answer them all. Please include a cover page with relevant information and a bibliography if applicable. 2. When using excel ensure to import into the case as required. 3. Round to two (2) decimals as required. CASE: Need Help The year end for Acme Plastics Ltd. was just completed. Prior to sending the information to the external accountant Need Money, LLP. Rondo the owner wants the internal accounting team led by Laura to complete the financial statements starting with the unadjusted trial balance as of March 31, 2023. The following is the unadjusted trial balance as of March 31, 2023: The following was reviewed with Rondo and Laura and agree to the following adjustments for the year ended March 31: a) Physical Inventory counts shows $155,000 of supplies on hand. b) Prepaid rent at March 31 should be $13,000. c) Depreciation for 2023 is $75,000. d) Unearned Revenue should be $41,000. e) Wages in the amount of $40,000 are owed but unpaid and not recorded at yearend. f) 3 months' interest at 8% on the note was paid on May 31. Interest for the period from January 1 to March 31 is not paid and not recorded. g) Income tax of $125,000 is owed but not recorded and unpaid. Rondo wants Laura to provide him with the adjusting journal entries as well as the statement of earnings, statement of retained earnings and the statement of financial position. In addition, Rondo also wants Laura to review the cash and bank information below and prepare a bank reconciliation for the present month, May 31, 2023. What will be the amount reported for cash on the statement of financial position at May 31, 2023. The following is the information at April 30th regarding the cash account: The bank statement for Acme Plastics for May is as follows: Comparing accounting system records to Bank Statements the following is provided