grade 11 accounting. pls do the work on a google sheet thank u!
Adjustments, Closing Entries, and Depreciation Assignment Congratulations! You own a small Accounting firm that services the Greater North Pole Area. You have just landed a new client Santa's Toy Repair Business. They need your help in preparing their year-end adjustments and closing entries. For this assignment, you will need to complete the following for Santa's Toy Repair Business. * A Worksheet * Journalizing Adjusting and Closing Entries Adjusting Entries to Journalize Elf Giggles McSnuggles has provided you with the following information: 1. Late-arriving invoice pertaining to the 2022 fiscal period were: 2. An inventory count revealed the value of the crafting supplies at the year-end to be $700. 3. The prepaid insurance at the year-end was calculated to be $350. 4. The balance of the Toy Repair Revenue account included a $3000 credit entry, which represented a cash payment in advance of work done. Santa's Toy Repair will complete the work in January, 2023. 5. Depreciation is calculated using the straight-line method. All assets were on hand for the entire year. - The toy repair equipment cost $37000 and is expected to last for 8 years. It is estimated that it would be worth $1200. - The sleigh cost $50000 and was expected to last for five years. It was estimated that it would be worth $10000. *Please leave the PR column blank for this assignment Checklist: T/10C/20A:/12 Adfurting Entries Thinking: Adjusting Entries completed correctly Total Thinking Communication: Correct dates, PF, proper atcount names, and bulance indicated. Details about adjusting entries and cakulations provided for Prepuld 6 Expense and Depreciation. Total Communication 10 Worksheet Communication All accounts lasted Meading answers: who, what, when (including time period) Total Communication Adjustiments recorded Income statement and balunce sheet values posted with correct accounts. Formulas used to add or wbtract adjusting entries. Total Application Closing Entries Communication In the journal: date recorded Credes indented Plin numbers recorded in the journal Small description provided In the ledgen date recorded. PR numbers recorded in the ledger 2 Phinumbers iecorded an the ledger \begin{tabular}{|l|l|l|} \hline Total Communication & 7 & \\ \hline & & \\ \hline \end{tabular}