create excel sheet with the following requiremnts on sheet
Year-End Year-End Post-Closing RetainedTotal Assets Trial Unadjusted Adjusted Trial Trial Version Balance Balance Net Income Earnings 12,604 Balance Totals 103,500 Totals 102,500 25,544 32,544 16,844 * b 98,600 199,800 18,507 10,7671 23,707 27,907 Dats Supplies are purchased for cash $400 Mar. 1 Two years of insurance is purchased for cash, costing $1,800. Mar. 1 Mar. 2 Mar. 2 Mar. 3 Mar. 4 Paid rent expense of $700 for current month. Supplies are purchased on account for $500. Received cash from customers on account, $1,200. Paid creditor on account, $650. Paid $900 of salary to employees, of which $50 is accrued from the prior month. Mar. 6 Mar. 7 Mar. 8 Received $800 from a customer in advance of providing the service. Purchased merchandise from Sofa Co. on account, $12,000 terms FOB Shipping Point, 1/10, n/30. Paid $500 to San Antonio Pickup Service for transportation cost in connection with the purchase from the Sofa Co. Mar. 9 Sold merchandise on account to Osgood Co., $10,900, terms FOB Shipping Point, 2/10, n/30. The cost of the goods sold was $6,500. Mar. 9 Mar. 18 Received a check from Osgood Co. for the sale on Mar. 9, less the discount. Mar. 18 Paid Sofa Co. for the merchandise purchased on Mar. 8, less the discount. Mar. 31 Dividends of $1,500 are paid Additional Information for Adjusting Entries: (a) Supplies on hand at the end of the year, March 31, are $150 (b) Record one month of insurance expense for March 31. O Depreciation of Equipment for the year, $1,200. Accounting 2301 Instructions and Information for the Case 1) Using the information given below (Trial Balance as of Feb. 28), enter the beginning balances in the T- Accounts in the Accounting Records Package. On page 2 note the format of the Financial Statements that were produced based on the Trial Balance as of Feb. 28 (single step income statement and classified balance sheet). Use the descriptions of the March transactions which are on page 3 to journalize all of the entries for March in the journal provided in the Accounting Records Package. 2) 3) Post each entry into the T-Accounts provided in the Accounting Records Package. When finished posting, calculate the account balance for each T-Account and enter the balance on the Unadjusted Trial Balance on the form provided. Then, use the information found on the bottom of page 3 and any account balance information that is needed to journalize and post the adjusting entries. Calculate each account balance. 4) Using the T-Account balances, create an Adjusted Trial Balance on the form provided in the Accounting 5) Using the provided templates in the Accounting Records Package, prepare the: Records Package. a. Income Statement b. Statement of Retained Earnings c. Balance Sheet Write the four closing entries in the journal and post them to the T-Accounts and calculate the ending balance for each account. 6) 7) Create the Post Closing Trial Balance on the form provided in the Accounting Records Package. b. Trial Balance as of February 28, 2019 Debit Credit 6,000 5,000 8,000 100 Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Equipment 8,000 Accumulated 3,000 2,290 50 Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Sales Revenue Sales Discounts 10,000 7,760 14,000 64,000 1,000 Cost of Goods Sold 28,000 Rent Expense 4,600 6,200 4,200 Salary Expense Supplies Expense Depreciation Expense Insurance Expense 2,000 87,100 87.100 Totals Financial Statements San Antonio Home Furnishings Company Income Statement For the Eleven Months Ended, February 28, 2019 64,000 Sales Revenue Less: Sales Discounts 63,000 Net Sales Cost of Goods Sold 35,000 Gross Profit Expenses Rent Expense Salary Expense Supplies Expense Depreciation Expense Insurance Expense Total Expenses 4,600 6,200 4,200 Net Income San Antonio Home Furnishings Company Statement of Retained Earnings For the Eleven Months Ended, February 28, 2019 7.760 Retained Earnings, April 1, 2018 Plus Net Income Less Dividends Increase in Retained Earnings Retained Earnings, Feb. 28, 2019 18,000 San Antonio Home Furnishings Company Balance S February 28, 2019 Liabilities Assets Current Liabilities Accounts Payable2,290 Salaries Payable Unearned Revenue Current Assets Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance 6,000 5,000 8,000 100 Revenue 7 50. Total Current Liab 2,340 Total Current Assets Plant Assets Office Equipment Less: Accum Depr 19,100 Stockholder's Equity Common Stock Retained Earnings 11,760 8,000 3,000 10,000 Total SE Total Liab & SE Total Plant Assets Total Assets 5,000 24,100 21,760 24,100
