Below are my work on part 1 I need part 2 Solutions for the Instructions

Accounting Cycle Project Part 2 - Complete the cycle and Prepare Financials statements Zeta Video Game Supplies has identified the following accounts as needed to be adjusted. Complete the necessary adjusting entries: a) Salaries earned but not paid for the period $5,500. b) Record accrued Interest income on investments of $1,500. c) Depreciation expense for the period. The equipment has a useful life of 20 years & the salvage value is estimated to be zero. (Hint - you have a partial year) d) Determine the amount of Insurance that has expired. e) Supplies on hand - $1,700. f) Found the parts needed to repair the game systems brought in on August 9th. As of December 31st, half were complete and given to the customer Zeta is working on finishing the rest of the systems. g) Record the amount of expired rent. h) Record accrued Interest expense of on Note Payable for the equipment purchased on May 1st i) Once all the adjustments are complete the company will need to calculate net income. Then you will calculate tax expense and recorded it (the offset is a tax payable). The company has an income tax rate of 25%. Part 2 - Instruction Instruction: You will prepare the following in excel - 1. General Journal a. Prepare adjusted journal entries 2. Ledger - T accounts a. Show beg. Unadjusted balance from part 1 b. Post adjusting activity - with Journal entry reference add on to unadjusted balance (this is your beginning) C. Show adjusted ending balance in ledger account 3. Trial Balance a. Prepare and Adjusted Trial Balance 4. Financial Statements a. (Multi-step) Income statement (do not forget the EPS disclosure) b. Statement of Retained Earnings C. (Classified) Balance Sheet (remember all disclosures) d. Cash Flow - prepare a direct method (remember that GAAP requires a reconciliation when the direct method is used) 5. General Journal e. Prepare closing journal entries 6. Ledger - Taccounts a. Show Beg adjusted balance from #2 b. Post the closing activity with Journal entry reference C. Show ending closing balances 7. Trial Balance a. Prepare a Post-Closing trial balance Remember to use proper formatting for everything you do! Financial statements should be GAAP format and look professional and printer ready). Assume you are making this for a client GENERAL JOURNAL Ref. Debit Credit Date 1-Mar Description account titles) No Entries Required 100 675,000 300 675,000 180 5,000 100 5,000 550 1,600 1,600 195 200 3,200 160 570 70,000 3,000 14,000 530 100 270 10,000 3,000 60,000 250 165 14,000 120 85,000 200 85,000 170 115,000 100 115,000 540 6,000 6,000 130 100 12,000 100 110 9,000 11,000 8,200 500 400 20,000 8,200 120 20-Mar Cash Common Stock 7-Apr Patent Cash 28-Apr Supplies Expense Prepaid Expense Account Payable 1-May Equipment Interest Expense Depreciation Expense Cash Interest Payable Note Payable Accumulated Depreciation 10-May Inventory Account Payable 31-May Land Cash 1-Jun Insurance Expense Prepaid Insurance Cash 26-Jun Cash Account Receivable Cost of Goods Sold Service Revenue Inventory 7-Jul Cash Cost of Goods Sold Service Revenue Inventory 26-Jul Salaries Expense Cash 9-Aug Cash Unearned Revenue 17-Aug Account Receivable Cost of Goods Sold Service Revenue Inventory 10-Sep Marketable Securities Cash 21-Sep Cash Account Receivable 29-Sep Loss on Sale Cash Equipment 1-Oct Rent Prepaid Rent Cash 19-Oct Cash Dividend Income 27-Nov Account Payable Cash 15-Dec Dividends Cash 100 45,000 22,400 500 400 45,000 22,400 120 510 10,500 100 10,500 100 8,000 240 8,000 110 14,000 4,700 500 400 14,000 4,700 120 150 12,000 100 12,000 100 6,000 110 6,000 590 1,000 2,000 100 160 3,000 515 4,500 13,500 140 100 18,000 100 1,200 410 1,200 200 3,500 100 3,500 320 8,000 100 8,000 Account Receivable 110 120 Cash 100 0 Inventory 0 Beg Beg Beg 20-Mar 675,000 7-Apr 5,000 26-Jun 11,000 21-Sep 6,000 10-May 85,000 26-Jun 8,200 26-Jun 9,000 1-May 10,000 17-Aug 14,000 7-Jul 22,400 7-Jul 45,000 31-May 115,000 17-Aug 4,700 1-Jun 6,000 9-Aug 21-Sep 29-Sep 8,000 6,000 Bal 49,700 Bal 19,000 2,000 1,200 19-Oct 26.Jul 10-Sep 1-Oct 6,000 10,500 12,000 4,500 13,500 3,500 8,000 27-Nov 15-Dec Bal 552,200 125 140 Supplies 0 Beg Prepaid Insurance 130 Beg 0 1-Jun Beg 1-Oct Prepaid Rent 0 13,500 6,000 Bal 6,000 Bal 13,500 Marketable Securities 150 Accum. Dep 165 Beg 0 Beg Equipment 160 0 60,000 29-Sep 10,000 Beg 1-May 0 14,000 10-Sep 12,000 29.sep 1-May 2,000 1,000 Bal 12,000 Bal 67,000 Bal 14,000 Land 170 Patent 180 Beg 0 30,000 85,000 Beg 7-Apr 0 5,000 31-May Bal 115,000 Bal 5,000 190 Interest Receivable Beg 0 Salary Payable 220 Beg 0 Account Payable 200 Beg 0 27-Nov 3,500 28-Apr 1,600 1,600 10-May 85,000 Bal 84,700 Utilities Payable 230 Unearned Revenue 240 Note Payable 250 Beg 0 2,100 Beg 9-Aug 0 8,000 Beg 1-May 0 60,000 8-Nov 2,100 Bal 60,000 Total Tax Payable 260 Beg Bal 8,000 Interest Payable 270 Beg 0 1-May 3000 0 Common Stock 300 Beg 20-Mar 0 675,000 Bal 675,000 Bal 3,000 Retained Earnings 310 Beg 0 Beg Dividends 320 0 8,000 15-Dec Bal 8,000 Service Revenue 400 Interest Income 410 Gain on Sale 450 Beg 0 Beg 0 Beg 0 26-Jun 9,000 19-Oct 1,200 11,000 45,000 7-Jul 17-Aug 14,000 Bal 1200 Bal 79,000 Cost of Goods Sold 500 Salary Expense 510 Rent Expense 515 Beg Beg 0 8,200 0 10,500 Beg 1-Oct 0 4500 26-Jun 26-Jul 7-Jul 17-Aug 22,400 4,700 35,300 Bal Bal 10,500 Bal 4,500 Beg Utilities Expense 520 0 2,100 Depreciation Expense 530 Beg 0 1-May 14000 Beg Insurance Expense 540 0 6000 8-Nov 1-Jun Bal Bal Bal 14,000 Tax Expense 560 0 6,000 Loss on Sale 2,100 Supply Expense 550 0 1600 590 Beg Beg Beg 0 28-Apr 29-Sep 1000 Bal Bal 1,000 1,600 Inerest Expense 570 0 3000 Beg 1-May Prepaid Expense 195 Beg 0 28-Apr 1,600 Bal 3,000 Bal 1,600 Unadjusted Trial Balance For the period ended 12/31x1 Debit Credit 552,200 19,000 49.700 6,000 13,500 12,000 67,000 14,000 115,000 5,000 Account Cash Account Receivable Inventory Supplies Prepaid Insurance Prepaid Rent Marketable Securities Equipment Accumulated Depreciation Land Land - Held as Investment Patent Interest Receivable Account Payable Salary Payable Utilities Payable Unearned Revenue Notes Payable Taxes Payable Interest Payable Common Stock Retained Earnings Dividends Sale Revenue Interrest Income 84,700 2.100 8,000 60,000 3,000 675,000 8,000 79.000 1,200 Gain on Sales Cost of Goods Sold Salary Expense Rent Expense Utilities Expense Depreciation Expense Insurance Expense Supplies Expense Prepaid Expense Interrest Expense Loss on Sales 35,300 10,500 4,500 2,100 14,000 6,000 1,600 1,600 3,000 1,000 $ 927,000 $ 927,000