1. Using the summary of adjustments that Nicholas has produced, prepare the required adjusting entries in Excel worksheet 'Adjusting'. The summary of adjustments is contained in the first worksheet, titled \"transaction and other info\". You need to prepare the adjusting entries in an ascending order by reference to the adjustment numbers. When journalize adjusting entries, follow the steps below. Select the day and month from the dropdown menu Input the journal reference, which is your adjustment number Select the appropriate account names Q'Mthe transaction amounts on the debit and credit sides to the amounts provided in the Summon; of adjustments. Linking can be done by (1} inputting the equal sign in the cell, (2) switching to the worksheet of Summa of adjustments, (3} clicking the correct transaction amount, and (4) pressing ENTER. Ensure the debit side equals to the credit side. Provide narrations 2. Complete the adjustment columns of the 10-column worksheet in Excel worksheet 'July Worksheet', for the adjusting entries and then complete the Adjusted Trial Balance using columns, titled \"Adjusted Trial Bala nce". Students should note the following: The amounts should be linked to the \"Adjusting\" worksheet when completing the adjustment columns of your 10-column worksheet. When completing the Adjusted Trial Balance of your 10-column worksheet, you should determine the nature of the balance first and then add or subtract the adjustment. See the two example below: First example. Assume unearned revenue is a credit balance with an unadjusted balance of $50. Assume again the revenue earned is $20. The adjusted balance for unearned revenue should be $50 minus $20. On the revenue side, assume that the unadjusted balance of revenue (remember revenue is a credit balance) is $200. Because the adjustment is $20 revenue earned, now the adjusted balance of revenue is $200 plus $20. Second example! Assume prepaid advertising is $100 with a debit balance. Assume again, the advertising expensed for the month is $10. The adjusted balance for prepaid advertising should be $100 minus $10. On the advertising expense side, assume that the adjusted balance for advertising expense (remember advertising expense is a debit balance) is $50. Because the adjustment is $10 advertising expensed, now the adjusted balance of advertising expense is $50 plus $10. Perform a balance check by subtracting the total credits from the total debits and make sure the net is nil. Remember, use excel to do your calculation
