1:23 & Account Name - Read-only Read Only - You can't save changes to this file. Account Name Unadjusted Trial Balance at December 31, 2020 Debit Credit Petty cash $ 600 Cash 25.641 Accounts receivable 50.241 Alowance for doubtful accounts $ 800 Interest receivable Prepaid insurance 14.000 Supplies 5.000 20.000 FV-Nl investments Notes receivable 25.000 194,000 Equipment Accumulated depreciation equipment Goodwil 56.000 100,000 58 000 Bank loans Accounts payable Salaries and wage payable 23 208 Accrued liabilities Uneamed revenue 42.641 Ligation ability Income tax payable 35.000 Common shares 40.500 Retained comings 61 800 Dividends Service revenue 501.491 Interest revenue Unrealized gain or loss-FV-NI 1:23 Read Only. You can't save changes to this file. Dividends 6.000 Service revenue 501.491 Interest revenue 3.186 Unrealized gain or loss-FV.NI Gain on disposal of equipment Depreciation expense 5.500 Office expense Travel expense Insurance expense 15.641 1,500 Interest expense 1.300 Us expense Rent expense 54641 Salaries and wages expense 225,895 Supplies supense Bad debt expense Telephone and internet expense Repairs and maintenance expanse 3.200 600 Litigation expense Income tax expense Totals $ 788,009 788,009 Required: (a) Prepare al necessary adjusting and correcting entries required in the Adjusting Entries Journal provided in the Excel Fille under tab of same name) based on the information given. If no entry is required, write "no entry. Show all calculations to the right of the adjusting entry (b) Using the tab labeled Adjusted Trial Balance".post the journal entries to the adjustment columns to arrive at an adjusted trial balance Use the item number as the reference Rel) in the adjustment columns in your adjusted trial balance. Using cell referencing for all of the above. Make sure that your debt and credit columns balance. (c) Prepare a multi-step statement of income by nature, a statement of retained earnings, and a classified statement of financial position for 2020. (All data and account titles must be cel-referenced to your 1:23 Read Only. You can't save changes to this file. Required (a) Prepare al necessary adjusting and correcting entries required in the Adjusting Entries Journal provided in the Excel Fle under tab of same name) based on the information given if no entry is required, write "no entry Show all calculations to the right of the adjusting entry (6) Using the tab labelled "Adjusted Trial Balance", post the journal entries to the adjustment columns to arrive at an adjusted trial balance. Use the item number as the reference Ref) in the adjustment columns in your adjusted trial balance. Using cell referencing for all of the above. Make sure that your debt and credi columns balance (c) Prepare a multi-step statement of income by nature, a statement of retained earings, and a classified statement of financial position for 2020. (All data and account titles must be cell-referenced to your adjusted trial balance) (d) Respond to the following independent situations in the Excel File in the Theory Tab a. You have decided to prepare a pie chart using Excel in order to better analyze the operating expenses for the year ended December 31, 2020 i. What benefits do you see in providing Jasper with such chart? IL Prepare the ple chart using the operating expenses from the first income statement in part (c) Ole., without discontinued operations). Provide a brief discussion of what the pie graph indicates with respect to the expenses of Jasper Consulting Limited. Make your pie chart as weful and readable as possible As your work nears completion, the company's owner approaches you -he states that he is currently seeking an additional bank loan to finance expansion of the continuing operations. He wants to present the bank with healthy financial statements that will indicate a strong current ratio as well as high earnings. He knows that these items will be the focus of the banks when deciding to lend the company money Specifically, he requests the following L. You do not record the legal issue in the financial statements for December 31, 2020 since the settlement and subsequent payment will not occur until late in 2021 You record all the unearned revenue at December 31 3s eamed since the company will meet all its performance obligations within a week or two of the year end - he feels that a week or so should not matter If you were to agree with Jasper's request what affect would this have on the earnings and financial position of the company? What would you say to the company's owner with respect to his request? 1:23 & Account Name - Read-only Read Only - You can't save changes to this file. Account Name Unadjusted Trial Balance at December 31, 2020 Debit Credit Petty cash $ 600 Cash 25.641 Accounts receivable 50.241 Alowance for doubtful accounts $ 800 Interest receivable Prepaid insurance 14.000 Supplies 5.000 20.000 FV-Nl investments Notes receivable 25.000 194,000 Equipment Accumulated depreciation equipment Goodwil 56.000 100,000 58 000 Bank loans Accounts payable Salaries and wage payable 23 208 Accrued liabilities Uneamed revenue 42.641 Ligation ability Income tax payable 35.000 Common shares 40.500 Retained comings 61 800 Dividends Service revenue 501.491 Interest revenue Unrealized gain or loss-FV-NI 1:23 Read Only. You can't save changes to this file. Dividends 6.000 Service revenue 501.491 Interest revenue 3.186 Unrealized gain or loss-FV.NI Gain on disposal of equipment Depreciation expense 5.500 Office expense Travel expense Insurance expense 15.641 1,500 Interest expense 1.300 Us expense Rent expense 54641 Salaries and wages expense 225,895 Supplies supense Bad debt expense Telephone and internet expense Repairs and maintenance expanse 3.200 600 Litigation expense Income tax expense Totals $ 788,009 788,009 Required: (a) Prepare al necessary adjusting and correcting entries required in the Adjusting Entries Journal provided in the Excel Fille under tab of same name) based on the information given. If no entry is required, write "no entry. Show all calculations to the right of the adjusting entry (b) Using the tab labeled Adjusted Trial Balance".post the journal entries to the adjustment columns to arrive at an adjusted trial balance Use the item number as the reference Rel) in the adjustment columns in your adjusted trial balance. Using cell referencing for all of the above. Make sure that your debt and credit columns balance. (c) Prepare a multi-step statement of income by nature, a statement of retained earnings, and a classified statement of financial position for 2020. (All data and account titles must be cel-referenced to your 1:23 Read Only. You can't save changes to this file. Required (a) Prepare al necessary adjusting and correcting entries required in the Adjusting Entries Journal provided in the Excel Fle under tab of same name) based on the information given if no entry is required, write "no entry Show all calculations to the right of the adjusting entry (6) Using the tab labelled "Adjusted Trial Balance", post the journal entries to the adjustment columns to arrive at an adjusted trial balance. Use the item number as the reference Ref) in the adjustment columns in your adjusted trial balance. Using cell referencing for all of the above. Make sure that your debt and credi columns balance (c) Prepare a multi-step statement of income by nature, a statement of retained earings, and a classified statement of financial position for 2020. (All data and account titles must be cell-referenced to your adjusted trial balance) (d) Respond to the following independent situations in the Excel File in the Theory Tab a. You have decided to prepare a pie chart using Excel in order to better analyze the operating expenses for the year ended December 31, 2020 i. What benefits do you see in providing Jasper with such chart? IL Prepare the ple chart using the operating expenses from the first income statement in part (c) Ole., without discontinued operations). Provide a brief discussion of what the pie graph indicates with respect to the expenses of Jasper Consulting Limited. Make your pie chart as weful and readable as possible As your work nears completion, the company's owner approaches you -he states that he is currently seeking an additional bank loan to finance expansion of the continuing operations. He wants to present the bank with healthy financial statements that will indicate a strong current ratio as well as high earnings. He knows that these items will be the focus of the banks when deciding to lend the company money Specifically, he requests the following L. You do not record the legal issue in the financial statements for December 31, 2020 since the settlement and subsequent payment will not occur until late in 2021 You record all the unearned revenue at December 31 3s eamed since the company will meet all its performance obligations within a week or two of the year end - he feels that a week or so should not matter If you were to agree with Jasper's request what affect would this have on the earnings and financial position of the company? What would you say to the company's owner with respect to his request