3. Purchased delivery trucks by signing a note bearing no interest, $210,000. 4. Received payment from the sale on account in transaction #2,$4,800. 5. Paid the note payable for the delivery trucks purchased in transaction \#3, $210,000. 6. Received cash for a delivery to be made in 60 days in the amount of $1,800. 7. Paid salaries for the month in the amount of $7,500. Scroll over for more transactions \#3: Prepare a Statement of Retained Earnings for 12/31/2017 using the Adjusted Trial Balance information and Income Statements on previous sheet. \#4: Prepare a Balance Sheet for 12/31/2017 using the Adjusted Trial Balance and Statement of Retained Earnings information . Supply proper date entry This project is designed as an assessment of key Learning Outcomes presented in this course. 1.: Analyzing Business Transactions. You will analyze 10 business transactions and provide the proper journal entries. (20 pts) 2.- 4.: Understanding Financial Statements: You will prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet. (60 pts) 5.: Understanding Financial Statement Analysis: You will prepare a horizontal and vertical analysis on Income Statement accounts. (10 pts) 6.: Analyzing Business Transactions. You will complete a bank reconciliation and figure net pay for an employee. Instructions: Please save this spreadsheet to your computer. After you have completed the project save it with your name as the filename, for example mine would read: coy-martin. You may upload your project in our course assignment tab. You MUST score 80% or higher on this project to receive credit for this course. Your final grade in this course will be figured as follows: Posttest (must score 80% or higher) 50\%; Financial Project (must score 80% or higher) 50%. Example: Posttest 80; Financial Project 95: Course grade 80+95=175/2=88B 1. : Review the following 10 transactions and supply the proper journal entries in the spaces provided. (20 pts) Assets: Cash, Accounts Receivable, Supplies, Prepaid Rent, Delivery Truck, Furniture Liabilities: Accounts Payable, Unearned Revenue, Notes Payable Equity: Retained Earnings, Common Stock, Paid in Excess of Par Common, Delivery Revenue, Salaries Expense Delivery Revenue, Utilities Expense, Salaries Expense, Supplies Expense Record the following transactions for Peterson's Delivery Service using the accounts listed above. List all Debit accounts/amounts first when recording your transaction. 1. 1000 shares of Common stock with a par value of $5 per share were issued for $8 per charerach 2. Earned delivery revenue on account, $4,800. \#6: Analyze the following data and calculate the bank reconciliation and Payroll amounts. The following information is available for Winston Company for the month ending June 30,2018. - Balance as per the bank statement is $11,240. - Balance as per books is $10,200. - Check \#506 for $1,200 and check \#510 for $900 were not shown on the June 30, bank statement. - A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated. - A bank debit memo indicated an NSF check for $85 written by Peter Wynn to Winston Company on June 13. - A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20. - The bank statement indicated service charges of $20. What is the adjusted book balance? Please show your calculations. Use the shaded text box below for your answer. (5pts) Paul Larkin and Jim Smith are the only two employees of Texas Pipe Company. In January, 2018, Paul's gross pay was $5,500 and Jim's gross pay was $5,900. All earnings are subject to FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45% and Unemployment Tax rate of 6%. Paul has a voluntary deduction of $67.00 and Jim has a voluntary deduction of $58.00, respectively, and are subject to Federal Income Tax rate of 18% each. What is Paul Larkin's Net Pay for January? Please show your calculations. (5 pts) Financial Project ORGL 225 Minimum of 80% Required for Competency \#5: Analyze the following data and perform a horizontal analysis of each of following Income Statement items in the spaces provided. Round your answers to the nearest percentage (5 pts) Analyze the following data and perform a vertical analysis of each of following Income Statement items in the spaces provided.(5 pts) \#2-4: Analyze the following adjusted Trial Balance for Remington Sales and prepare an Income Statement, Statement of Retained Earnings and Balance Sheet in the spaces provided. (60 pts) Prepare an Income Statement for 12/31/2017 using the Adjusted Trial Balance information above. Part 1 Concluded (page 3 of 3 ): 8. Bought supplies on account in the amount of $956. 9. Performed delivery services on account ,$22,050 10. Purchased another delivery truck for cash, $44,000. end of problem \#1 Look under next tab for problems \#2-\#4 Financial Project ORGL 225 Minimum of 80% Required for Competency 3. Purchased delivery trucks by signing a note bearing no interest, $210,000. 4. Received payment from the sale on account in transaction #2,$4,800. 5. Paid the note payable for the delivery trucks purchased in transaction \#3, $210,000. 6. Received cash for a delivery to be made in 60 days in the amount of $1,800. 7. Paid salaries for the month in the amount of $7,500. Scroll over for more transactions \#3: Prepare a Statement of Retained Earnings for 12/31/2017 using the Adjusted Trial Balance information and Income Statements on previous sheet. \#4: Prepare a Balance Sheet for 12/31/2017 using the Adjusted Trial Balance and Statement of Retained Earnings information . Supply proper date entry This project is designed as an assessment of key Learning Outcomes presented in this course. 1.: Analyzing Business Transactions. You will analyze 10 business transactions and provide the proper journal entries. (20 pts) 2.- 4.: Understanding Financial Statements: You will prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet. (60 pts) 5.: Understanding Financial Statement Analysis: You will prepare a horizontal and vertical analysis on Income Statement accounts. (10 pts) 6.: Analyzing Business Transactions. You will complete a bank reconciliation and figure net pay for an employee. Instructions: Please save this spreadsheet to your computer. After you have completed the project save it with your name as the filename, for example mine would read: coy-martin. You may upload your project in our course assignment tab. You MUST score 80% or higher on this project to receive credit for this course. Your final grade in this course will be figured as follows: Posttest (must score 80% or higher) 50\%; Financial Project (must score 80% or higher) 50%. Example: Posttest 80; Financial Project 95: Course grade 80+95=175/2=88B 1. : Review the following 10 transactions and supply the proper journal entries in the spaces provided. (20 pts) Assets: Cash, Accounts Receivable, Supplies, Prepaid Rent, Delivery Truck, Furniture Liabilities: Accounts Payable, Unearned Revenue, Notes Payable Equity: Retained Earnings, Common Stock, Paid in Excess of Par Common, Delivery Revenue, Salaries Expense Delivery Revenue, Utilities Expense, Salaries Expense, Supplies Expense Record the following transactions for Peterson's Delivery Service using the accounts listed above. List all Debit accounts/amounts first when recording your transaction. 1. 1000 shares of Common stock with a par value of $5 per share were issued for $8 per charerach 2. Earned delivery revenue on account, $4,800. \#6: Analyze the following data and calculate the bank reconciliation and Payroll amounts. The following information is available for Winston Company for the month ending June 30,2018. - Balance as per the bank statement is $11,240. - Balance as per books is $10,200. - Check \#506 for $1,200 and check \#510 for $900 were not shown on the June 30, bank statement. - A deposit in transit of $3,110 had not been received by the bank when the bank statement was generated. - A bank debit memo indicated an NSF check for $85 written by Peter Wynn to Winston Company on June 13. - A bank credit memo indicated a note collected by the bank of $2,100 and interest revenue of $55 on June 20. - The bank statement indicated service charges of $20. What is the adjusted book balance? Please show your calculations. Use the shaded text box below for your answer. (5pts) Paul Larkin and Jim Smith are the only two employees of Texas Pipe Company. In January, 2018, Paul's gross pay was $5,500 and Jim's gross pay was $5,900. All earnings are subject to FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45% and Unemployment Tax rate of 6%. Paul has a voluntary deduction of $67.00 and Jim has a voluntary deduction of $58.00, respectively, and are subject to Federal Income Tax rate of 18% each. What is Paul Larkin's Net Pay for January? Please show your calculations. (5 pts) Financial Project ORGL 225 Minimum of 80% Required for Competency \#5: Analyze the following data and perform a horizontal analysis of each of following Income Statement items in the spaces provided. Round your answers to the nearest percentage (5 pts) Analyze the following data and perform a vertical analysis of each of following Income Statement items in the spaces provided.(5 pts) \#2-4: Analyze the following adjusted Trial Balance for Remington Sales and prepare an Income Statement, Statement of Retained Earnings and Balance Sheet in the spaces provided. (60 pts) Prepare an Income Statement for 12/31/2017 using the Adjusted Trial Balance information above. Part 1 Concluded (page 3 of 3 ): 8. Bought supplies on account in the amount of $956. 9. Performed delivery services on account ,$22,050 10. Purchased another delivery truck for cash, $44,000. end of problem \#1 Look under next tab for problems \#2-\#4 Financial Project ORGL 225 Minimum of 80% Required for Competency