Can you answer these two sheets? It's a two-part question. it is T-accounts and transaction statements

inadi. Bal 89,020 Unadj. Bal. 103,100 3 Unadj. Bal. 4 1,500 Unadj. Baldnadi. Bal. 3,920 Unadi. Bal. 1,000 5 6 7 89,020 103,100 1.500 3.920 1,000 8 9 Equipment Deferred Revenue Interest Payable .ccumulated Depreciation - Equipmer 20,000 Unadi. Bal. 10 Unadi. Bal. 100,000 11 12 13 14 100,000 20,000 15 16 Salaries and Wages Payable Notes Payable Common Stock Bad Debt Expense Service Revenue 196,500 Unadi. Bal. 17 82,200 Unadi. Bal. 15,000 Unadi. Bal. 18 19 20 21 82,200 15,000 196,500 22 23 24 25 Insurance Expense Depreciation Expense Interest Expense Rent Expense 10.000 Salaries and Wages Expense 22,800 26 Unadi. Bal Unadi. Bal. 27 28 29 30 10,000 22,800 31 32 Dividends Dividends Payable 33 34 Unadi. Ball 35 Utilities Expense 1.100 Supplies Expense Office Expense 1,770 Unadi. Bal. 36 37 38 1,100 1,770 39 40 41 Retained Earnings 42 17,510 Unadi. Bal. 43 44 45 46 47 48 49 50 51 52 53 54 17,510 55 56 57 58 AutoSave Off Excel Project #1-1 - Excel Search File Home Insert Draw Page Layout Formulas Data Review View Help Acrobat A1 X fx B D E F G H K L M N O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 T-Accounts Financial Statements + 1 2 Hexagon Enterprises, Inc. Trial Balance December 31, 2021 3 4 Adjustments Debit Income Statement Debit Credit Retained Earnings Debit Credit Balance Sheet Debit Credit 5 Credit 6 7 15,000 Unadjusted Debit Credit 89,020 103,100 1,500 3,920 1,000 100,000 20,000 89,020 88,100 8 9 1,500 3.470 500 10 11 450 500 100,000 12 13 14 20,000 10,000 343 3,400 25,000 15 16 40,000 10,000 343 3,400 25,000 82.200 15.000 17 Adjusted Debit Credit 89,020 88,100 1,500 450 500 100,000 40.000 10,000 343 3,400 25,000 82,200 15,000 17.510 25,000 186,500 3,470 15,000 500 20,000 10,000 26,200 1,100 1,770 343 381,453 381,453 82,200 15,000 17,510 18 19 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Deferred Revenue Interest Payable Salaries and Wages Payable Dividends Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Supplies Expense Bad Debt Expense Insurance Expense Depreciation Expense Rent Expense Salaries and Wages Expense Utilities Expense Office Expense Interest Expense Totals Net Income Totals 17,510 20 25,000 21 196,500 186,500 22 25.000 10,000 3,470 15,000 500 20,000 23 24 25 26 27 3,400 10,000 22,800 1.100 1.770 3,470 15,000 500 20,000 10,000 26,200 1,100 1.770 343 78,383 108,117 186,500 28 29 30 343 77,713 31 332,710 332.710 77.713 186,500 25,000 278,070 17,510 108.117 125.627 177.443 100.627 32 33 332,710 332,710 77,713 77,713 381,453 381,453 186.500 25,000 278,070 278,070 34 35 36 37 38 39 40 41 42 43 44 D 45 46 Prepare each adjusting entry for each of the following: a. During the year, $10,000 was received in advance from clients for services that have not yet been performed. This was recorded as service revenue. 1 5 10,000 service revenue deferred revenue 5 10000 b. Bad debt expense for the year is $15,000. 2 0 15,000 bad debt expense accounts receivable 1 15000 2 3 c. Prepaid insurance expired during the year $500. 4 5 500 insurance expense prepaid insurance 6 500 7 8 d. Equipment is being depreciated at 20% per year. No depreciation was recorded during the year. 9 0 20,000 depreciation expense accumulated depreciation equipment 1 20000 2 3 e. Hexagon borrowed $82,200 via a 90-day, 5% bank note on December 1, 2020. No interest has been recorded. 4 5 interest expence 343 6 interest 343 7 8 f. Office salaries and wages earned but unpaid December 31, 2021; $3,400. 9 0 3,400 salaries and wages expense salaries and wages payable 1 3,400 2 3 g. Dividends of $25,000 were declared in the month of December. This has not been accounted for yet. 4 5 25,000 dividends expense dividends payable 6 25000 7 8 h. $450 of supplies remain at the end of the year. 9 0 3470 11 supplies expense supplies 34701 2 3 Prepare closing entries necessary to close temporary accounts at the end of the year: Instructions Journal Entries Trial Balance T-Accounts Financial Statements + Ready B D E F G H H | J K 1 Summer 2021 - ACCT 3113 2 Excel Project #1 3 Due Date: Submit in Canvas: June 21, 2021 11:59pm 4 5. 6 Required: Rubric 8 points 1. Hexagon Enterprises, Inc. has completed its second year of operations. The bookkeeper has prepared the unadjusted trial balance, but is unsure how to appropriately account for various end-of-year information which requires adjusting 7 entries. Prepare the necessary adjusting journal entries on the "Journal Entries" tab. 8 2. Update the T-Accounts on the "T-Accounts" tab to reflect adjusted balances after 9 making the adjusting entries. 10 2 points 8 points 3. Complete the worksheet on the "Trial Balance" tab. Do not hard-code numerical 11 values - use cell references. 12 4. Prepare the necessary closing entries on the "Journal Entries" tab, and update the t- 13 accounts on the "T-Accounts" tab to account for these entries. 2 points 14 5. On the "Financial Statements" tab, prepare a formal Income Statement, Balance Sheet, and Statement of Retained Earnings. For cells that contain numerical values, do not hard code amounts - amounts should be calculated using formulas or 15 referenced from cells on the "Trial Balance" tab. 5 points 16 17 18 19 20 21 22 23 24 Instructions Journal Entries Trial Balance T-Accounts Financial Statements inadi. Bal 89,020 Unadj. Bal. 103,100 3 Unadj. Bal. 4 1,500 Unadj. Baldnadi. Bal. 3,920 Unadi. Bal. 1,000 5 6 7 89,020 103,100 1.500 3.920 1,000 8 9 Equipment Deferred Revenue Interest Payable .ccumulated Depreciation - Equipmer 20,000 Unadi. Bal. 10 Unadi. Bal. 100,000 11 12 13 14 100,000 20,000 15 16 Salaries and Wages Payable Notes Payable Common Stock Bad Debt Expense Service Revenue 196,500 Unadi. Bal. 17 82,200 Unadi. Bal. 15,000 Unadi. Bal. 18 19 20 21 82,200 15,000 196,500 22 23 24 25 Insurance Expense Depreciation Expense Interest Expense Rent Expense 10.000 Salaries and Wages Expense 22,800 26 Unadi. Bal Unadi. Bal. 27 28 29 30 10,000 22,800 31 32 Dividends Dividends Payable 33 34 Unadi. Ball 35 Utilities Expense 1.100 Supplies Expense Office Expense 1,770 Unadi. Bal. 36 37 38 1,100 1,770 39 40 41 Retained Earnings 42 17,510 Unadi. Bal. 43 44 45 46 47 48 49 50 51 52 53 54 17,510 55 56 57 58 AutoSave Off Excel Project #1-1 - Excel Search File Home Insert Draw Page Layout Formulas Data Review View Help Acrobat A1 X fx B D E F G H K L M N O 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 T-Accounts Financial Statements + 1 2 Hexagon Enterprises, Inc. Trial Balance December 31, 2021 3 4 Adjustments Debit Income Statement Debit Credit Retained Earnings Debit Credit Balance Sheet Debit Credit 5 Credit 6 7 15,000 Unadjusted Debit Credit 89,020 103,100 1,500 3,920 1,000 100,000 20,000 89,020 88,100 8 9 1,500 3.470 500 10 11 450 500 100,000 12 13 14 20,000 10,000 343 3,400 25,000 15 16 40,000 10,000 343 3,400 25,000 82.200 15.000 17 Adjusted Debit Credit 89,020 88,100 1,500 450 500 100,000 40.000 10,000 343 3,400 25,000 82,200 15,000 17.510 25,000 186,500 3,470 15,000 500 20,000 10,000 26,200 1,100 1,770 343 381,453 381,453 82,200 15,000 17,510 18 19 Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment Deferred Revenue Interest Payable Salaries and Wages Payable Dividends Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Supplies Expense Bad Debt Expense Insurance Expense Depreciation Expense Rent Expense Salaries and Wages Expense Utilities Expense Office Expense Interest Expense Totals Net Income Totals 17,510 20 25,000 21 196,500 186,500 22 25.000 10,000 3,470 15,000 500 20,000 23 24 25 26 27 3,400 10,000 22,800 1.100 1.770 3,470 15,000 500 20,000 10,000 26,200 1,100 1.770 343 78,383 108,117 186,500 28 29 30 343 77,713 31 332,710 332.710 77.713 186,500 25,000 278,070 17,510 108.117 125.627 177.443 100.627 32 33 332,710 332,710 77,713 77,713 381,453 381,453 186.500 25,000 278,070 278,070 34 35 36 37 38 39 40 41 42 43 44 D 45 46 Prepare each adjusting entry for each of the following: a. During the year, $10,000 was received in advance from clients for services that have not yet been performed. This was recorded as service revenue. 1 5 10,000 service revenue deferred revenue 5 10000 b. Bad debt expense for the year is $15,000. 2 0 15,000 bad debt expense accounts receivable 1 15000 2 3 c. Prepaid insurance expired during the year $500. 4 5 500 insurance expense prepaid insurance 6 500 7 8 d. Equipment is being depreciated at 20% per year. No depreciation was recorded during the year. 9 0 20,000 depreciation expense accumulated depreciation equipment 1 20000 2 3 e. Hexagon borrowed $82,200 via a 90-day, 5% bank note on December 1, 2020. No interest has been recorded. 4 5 interest expence 343 6 interest 343 7 8 f. Office salaries and wages earned but unpaid December 31, 2021; $3,400. 9 0 3,400 salaries and wages expense salaries and wages payable 1 3,400 2 3 g. Dividends of $25,000 were declared in the month of December. This has not been accounted for yet. 4 5 25,000 dividends expense dividends payable 6 25000 7 8 h. $450 of supplies remain at the end of the year. 9 0 3470 11 supplies expense supplies 34701 2 3 Prepare closing entries necessary to close temporary accounts at the end of the year: Instructions Journal Entries Trial Balance T-Accounts Financial Statements + Ready B D E F G H H | J K 1 Summer 2021 - ACCT 3113 2 Excel Project #1 3 Due Date: Submit in Canvas: June 21, 2021 11:59pm 4 5. 6 Required: Rubric 8 points 1. Hexagon Enterprises, Inc. has completed its second year of operations. The bookkeeper has prepared the unadjusted trial balance, but is unsure how to appropriately account for various end-of-year information which requires adjusting 7 entries. Prepare the necessary adjusting journal entries on the "Journal Entries" tab. 8 2. Update the T-Accounts on the "T-Accounts" tab to reflect adjusted balances after 9 making the adjusting entries. 10 2 points 8 points 3. Complete the worksheet on the "Trial Balance" tab. Do not hard-code numerical 11 values - use cell references. 12 4. Prepare the necessary closing entries on the "Journal Entries" tab, and update the t- 13 accounts on the "T-Accounts" tab to account for these entries. 2 points 14 5. On the "Financial Statements" tab, prepare a formal Income Statement, Balance Sheet, and Statement of Retained Earnings. For cells that contain numerical values, do not hard code amounts - amounts should be calculated using formulas or 15 referenced from cells on the "Trial Balance" tab. 5 points 16 17 18 19 20 21 22 23 24 Instructions Journal Entries Trial Balance T-Accounts Financial Statements