Complete excel form through data

8 3 The business has the following opening balances: Cash at bank Account receivable Motor Vehicle Account payable Bank loan (due 2022) Furniture Promotional Material Supplies Capital 4 $11,674 $16.961 $35,313 $7.679 $28,425 $23,407 $503 ? Additional information: Bank loan interest rate (% per year) Motor vehicle useful life(years) Keep the motor vehicle after economic life Insurance paid for (months) Rent paid for (months) Furniture useful life(years) Furniture scrap value ($) Closing stock of promotional materials on 30/6($) Staff work a 14 days forngiht and are paid on the 15th day. 3 2 $200 $959 Transaction: Date Description Motor Vehicle Expenses 3-Jun Rent of Business Premises 1-Jun Amount $408 $3,724 Date Description 1-Jun Paid general insurance 4-Jun Rental commission - account Amount $2,627 $1,442 5-Jun Advertising placement fees - cash 8-Jun Purchase promotional materials 9-Jun Auction commission - Cash 11-Jun Advertising placement fees - account 11-Jun Advertising expenses - account 13-Jun Auction commission - account 13-Jun Advertising placement fees - account 17-Jun Payment to account payable 20-Jun Sundry expenses 23-Jun Advertising expenses - cash 27-Jun Rental commission - cash 29-Jun Staff wages $703 $644 $1,857 $854 $1,182 $896 $801 $1,346 $283 $772 $1,900 $2,517 5-Jun Cash withdrawal by the owner 8-Jun Rental commission - cash 10-Jun Receive Payment from account customers 11-Jun Auction commission - account 12-Jun Auction commission - cash 13-Jun Rental commission - account 15-Jun Staff wages 19-Jun Advertising placement fees - cash 22-Jun Receive payment from account customers 23-Jun Payment to account payable 27-Jun Additional cash contributed by owner $840 $1,994 $1,966 $758 $1,833 $1,370 $2,517 $775 $1,563 $1,018 $3,406 Comments: - Assume that this assignment involves an existing business that was purchased by the new owner on 1 June 2021. -Note the list of transactions is in date order, left to right, line by line. -Use three separate ledger accounts for revenue, namely rental commission, auction commission and advertisement placement fees. All revenues relate to the month of June. - Transactions involve cash unless specificed as 'Account'. -Record payments for rent and insurance in prepaid accounts initially. - Information relevant to complete adjusting entries can be found in the top right section of this page. - The periods to which the rent and insurance apply commence on 1 June. -Straight-line depreciation applies to the fixed effects. -Round your calculations to the nearest dollar. Requirements: 1. Prepare Worksheet entries, Income statement, Balance Sheet, and Classified statement of Cash Flows (submission requirement refers to Assignment Guideline at Moodle) 2. What are the main differences between main financial statements prepared for a sole proprietor and a public listed company? A D E F. G H M N B BALANCE SHEET ASSETS 0 P INCOME STATEMENT INCOME EXPENSE Q NOTES TOTES 2 DATE LIABILITIES EQUITY Pre- Vehicle payment Acc. Vehicles Dep'n Office Acc dep'n 3 Office Supplies Equip't Cash A/Rec A/Pay Accrued Bank loan expenses Capital Drawings 4 o/balances 5 6 7 8 9 10 11 12 13 14 15 CLAR IVI 33 34 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 35 36 Unadjusted month end 37 balances 38 Adjusting Entries 39 40 41 42 43 44 45 46 47 c/balances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0