Acsount balanoes from the general ledger of Wyatt Ine, on Decenber 31, 2021, are shown on the tab labeled "Tria Balance. "Wyatt's controller is in the process of preparing year-end finaneial itstements and has cone across information that needs to be considered during the preparation process. The amounts listed on the Trial Balance are coneet, exeept for the items in Notes 14 below. These items have either not been recorded through an adjusting journal entry or were recorded incorrectly during the year. Note 1: The sales revenne total includes a $120,000 advance payment received from a customer on 11/01/21 for goods to be shipped from November 2021 through Oetober 2022 . An coual amoum of goods will be shipped on the 15th of cach of the months November tiroush Oetober. Note 2: Oa May 1, 2021, the compary purchased a piece of equipment for $1,000,000 with a salvage value of $250,000 and a useful life of 25 years. In the onizinal depreciation calculation, the accountant inconeetly ited a ueful life of 30 ycars whien it was reconded at year-end. Assame straight-line depreciation is used. Aloo, assume that depreciation eqease for other assets was recorded courectly. Note 3: On March 1, 2021, Wyatt pxid 572,000 in advance to receive innuance corcrage for 3 yean (Marting on March 1, 2021). The accoustant recorded the entre payment as insurunce expence on that dry. Note 4: Rerieral ledger upon origination, but the accountant filled to acerie iuterest. Interest was zecorded propoly for all other outatanifing noter payable. INSTRLCTIONS Prepare adjunting journal entries based on Notes 14 above. The adjusting journal entries should be recorded in the designated space on the "Irial Balance" fab. It may be necersary to add accounts to the trial balance as a result of your jourual entriew (this can be done by inserting rowy where necessary), however all accounts used by Wyatt appear on the "Chart of Accountw" tab (i.c. you should not create any new accounts). Green cells should be hard keyed, though you should use an equation within the cell to support your ealculation. Blue cells sbould be formala driven. You should ase the VLOOKUP functios fo popalate the "Account" columan in the adjusting journal entries. The INDEX+MATCH function is also acecptable if you are familiat wath that fienction. 2. Pest the adjusing journal entries to columns G&H a the "Trial Balance" tab. If accounts uted in Step #1 must be added to the trial balanee, use the sume order of acceants as peesented in the "Chart of Accounts". Use cell references (i.e. link the entry to the cril) to post to the trial balance. Make sare to verify that your entries balance by performing a Sam function for colamans G \& H. have a fonmula in the debit colanan enly. Accounts that have a normal credit balance whould have a formula ia the credit column orly. Make sure to verify that the adjuxted triat balaese balantes by performing a Sum furction for colunans 3 \& K. 4 5. Cakulate ending retained eammpt. Limk the bahances used in the ealculation to the appropriate cells: Use a SUM fuection fo ealculate ebdiog retained earniegs. 31. Dividend thicald be entered as negative. 6. Prepacc a post closing traal balance in columms M \& N. Liak the eell of the port closinz trial balance to che appropeiate sapport. Make mure to verfy that the post Acsount balanoes from the general ledger of Wyatt Ine, on Decenber 31, 2021, are shown on the tab labeled "Tria Balance. "Wyatt's controller is in the process of preparing year-end finaneial itstements and has cone across information that needs to be considered during the preparation process. The amounts listed on the Trial Balance are coneet, exeept for the items in Notes 14 below. These items have either not been recorded through an adjusting journal entry or were recorded incorrectly during the year. Note 1: The sales revenne total includes a $120,000 advance payment received from a customer on 11/01/21 for goods to be shipped from November 2021 through Oetober 2022 . An coual amoum of goods will be shipped on the 15th of cach of the months November tiroush Oetober. Note 2: Oa May 1, 2021, the compary purchased a piece of equipment for $1,000,000 with a salvage value of $250,000 and a useful life of 25 years. In the onizinal depreciation calculation, the accountant inconeetly ited a ueful life of 30 ycars whien it was reconded at year-end. Assame straight-line depreciation is used. Aloo, assume that depreciation eqease for other assets was recorded courectly. Note 3: On March 1, 2021, Wyatt pxid 572,000 in advance to receive innuance corcrage for 3 yean (Marting on March 1, 2021). The accoustant recorded the entre payment as insurunce expence on that dry. Note 4: Rerieral ledger upon origination, but the accountant filled to acerie iuterest. Interest was zecorded propoly for all other outatanifing noter payable. INSTRLCTIONS Prepare adjunting journal entries based on Notes 14 above. The adjusting journal entries should be recorded in the designated space on the "Irial Balance" fab. It may be necersary to add accounts to the trial balance as a result of your jourual entriew (this can be done by inserting rowy where necessary), however all accounts used by Wyatt appear on the "Chart of Accountw" tab (i.c. you should not create any new accounts). Green cells should be hard keyed, though you should use an equation within the cell to support your ealculation. Blue cells sbould be formala driven. You should ase the VLOOKUP functios fo popalate the "Account" columan in the adjusting journal entries. The INDEX+MATCH function is also acecptable if you are familiat wath that fienction. 2. Pest the adjusing journal entries to columns G&H a the "Trial Balance" tab. If accounts uted in Step #1 must be added to the trial balanee, use the sume order of acceants as peesented in the "Chart of Accounts". Use cell references (i.e. link the entry to the cril) to post to the trial balance. Make sare to verify that your entries balance by performing a Sam function for colamans G \& H. have a fonmula in the debit colanan enly. Accounts that have a normal credit balance whould have a formula ia the credit column orly. Make sure to verify that the adjuxted triat balaese balantes by performing a Sum furction for colunans 3 \& K. 4 5. Cakulate ending retained eammpt. Limk the bahances used in the ealculation to the appropriate cells: Use a SUM fuection fo ealculate ebdiog retained earniegs. 31. Dividend thicald be entered as negative. 6. Prepacc a post closing traal balance in columms M \& N. Liak the eell of the port closinz trial balance to che appropeiate sapport. Make mure to verfy that the post