help me with the closing entries and prepare the income statement, statement of retaind earnings , balnce sheet on excel.
PART III. REQUIREMENTS: Prepare the following Financial Statements based on the Adjusted Trial Balance. Income Statement Statement of Retained Earnings Balance Sheet The financial statements must be typed (Excel or word processor, etc.) and in PROPER format (ex: only use dollar signs where appropriate, use commas, do not use decimal points, proper indentation, etc. - look at the examples in the textbook - Chapter 2). Each financial statement must be on a separate page. Start on the first blank General Journal page and prepare the necessary Closing Entries for the month of October. Complete the headings of the General Journal pages. Use the account names that are on the General Ledger accounts (General Ledger provided). Journal entries MUST be properly formatted or you will lose points! Skip a blank line between each new journal entry. These entries can all be dated October 31. Post all closing entries from the General Journal to the General Ledger accounts. So, at this point the adjustments will be posted on the same Ledger pages that you posted the transactions and adjustments to, just as if it were a real set of books and records. Prepare an after-closing (or Post-Closing) Trial Balance. The accounts should appear in the same order as in the GL. Make sure that all sheets have appropriate headings (look at the examples in the textbook). Data Visualization: Using a pie chart or graph, present a visualization related to Success Systems, Inc.'s financial statements. You choose what you present. If you use color in your visualization, please print it on a color printer or make sure the easily discernible Page E Sp 2020 Seco1 Name Jane Distrbution, Inc. GENERAL JOURNAL Account Titles and Explanation Date Ref D ebit Credit 2019 Oct 175,000 60.000 5,000 1 Cash Kitchen Equipment Joffice Equipment Common Stock To record the issuance of 20.000 shares of common stock as Jane Martin's initial investment 307 241,000 2 inventory Accounts Payable To record purchase of food 201 4,400 3 Prepaid Rent Cash To record payment of 4 months rent in advance 5 Accounts Receivable Sales Revenue To record sale to N&K 7.000 5 Cost of Goods Sold Inventory To record cost of Inventory sold to NSK 5,000 6 Prepaid Insurance To record payment of 2 year property and liability Insurance policy starting 10/1/2019 1000 & Accounts Payable Cash To record payment to ABC Foods 101 106 403 2.950 12 Accounts Receivable Sales Revenue To record billing to NSK LLC for accounting and tax services 2,950 Sp 2020 Sec01 Name Jane Datribution, Inc General Journal Account Tities and Explanation Date Ref. Credit Oct 50g 12 Cost of Goods Sold Inventory To record cost of Inventory sold to NSK TG Cash Accounts Receivable Payment of 10.5 invoice 7,000 17 Repairs Expense - Computer Cash To record payment for computer damaged due to moving STI 20 Advertising Expense 101 To record payment for Oct 25 newspaper ad 101 10E 22950 22 Cash Accounts Receivable To record receipt of amount due from IN&K LLC .050 23 Wage expense Cash Pald wages owed to John Leo 6231 101 al 9,300 28 Accounts Receivable Sales Revenue To record billing to KMH, LLC for services performed. al 28 Cost of Goods Sold Inventory To record cost of sale to KMH LLC 108 1.000 200 319 101 28 Dividends Cash To record payment of cash dividend to Jane Martin Name Jane Distribution, Inc. General Journal Account Titles and Explanation Sp 2020 Sec01 J3 Ref. Debit Credit Date 2019 31-Oct 290 676 201 290 Mileage expense Accounts payable To accrue amount owed to Jane for miles driven on business 150 637 128 1 50 Insurance expense Prepaid Insurance To record the expiration of one month of the two-year Insurance policy 9 60 623 210 960 Wage expense Wages payable To accrue 4 days wages due to John Lee 1 ,000 31 613 168 1.000 Depreciation expense - Kitchen equipmel Acc Dep - Kitchen Equipment To record one month depreciation 1 00 612 164 Depreciation expense - Office equipment Acc Dep - Office Equipment To record one month depreciation 100 1.100 Rent expense Prepaid rent To record the use of one month's rent 640 131 1.100 Name Sp 2020 Sec01 General Journal Ref Debit Credit Date Account Titles and Explanation Sp 2020 Sec01 Jane Distribution, Inc. GENERAL LEDGER ACCOUNT NO. 101 CREDIT Ref. DEBIT 175,000 1992 4.400 3.600 1.000 175.000 170.600 167 000 166,000 173.000 172.550 170,660 173,610 172.560 172 360 1.050 TI Accounts Receivable Ref. DEBIT ACCOUNT NO. 106 CREDIT BALANCE Date Explanation 7,000 2.950 J1 7,000 9.950 2,950 7.000 2.950 J2 9.300 9.300 Inventory Ref. Ref. ACCOUNT NO. 108 CREDIT BALANCE Explanation DEBIT DEBIT 2019 1 0.000 2-Oct J1 J1 J1 J1 5,0005 500 1,000 10,000 ,000 4,500 3.500 Sp 2020 Seco1 Jane Distribution, Inc. GENERAL LEDGER Computer Supplies Ref Ref D EBIT DEBIT Explanation ACCOUNT NO. 126 CRE CREDIT BALANCE Prepaid Insurance DEBIT ACCOUNT NO. 128 CREDIT BALANCE 1.600 150 3.450 Prepaid Rent Ref. DEBIT ACCOUNT NO. 131 CREDIT BALANCE Explanation 2012 3-Oct J1 1.100 4,400 32300 Office Equipment Rot DEBIT ACCOUNT NO. 163 CREDIT BALANCE Explanation Date 2019 1-Oct J1 6,000 6.000 Ace, Dep. - Office Equipment Explanation Ref. DEBIT ACCOUNT NO. 164 CREDIT BALANCE Date 2019 31 Oct Kitchen Equipment Ref DEBIT ACCOUNT NO. 167 CREDIT BALANCE Date Explanation 1-Oct J1 6 0,000 50.000 Acc. Dep. - Kitchen Equipment Explanation Ref. DEBIT ACCOUNT NO. 168 CREDIT B ALANCE 31-Oct 1.000 1.000 Sp 2020 Sec01 Name Jane Distribution, Inc GENERAL LEDGER Accounts Payable Rof D EBIT ACCOUNT NO. 201 CREDIT BALANCE Date Explanation 10,000 1.000 10,000 9.000 9.290 Wages Payable Ref. DEBIT ACCOUNT NO, 210 CREDIT BALANCE 960 960 Sp 2020 Sec01 Name Jane Distribution, Inc. GENERAL LEDGER Common Stock Ref. DEBIT ACCOUNT NO. 307 CREDIT BALANCE Date Explanation 241,000 241.000 Retained Earnings Ref. DEBIT ACCOUNT NO. 318 CREDIT BALANCE Date Explanation Dividends Ref. ACCOUNT NO. 319 CREDIT BALANCE Explanation DEBIT Sales Revenue Ref. DEBIT ACCOUNT NO. 403 CREDIT BALANCE Date Explanation 7,000 2.950 9,300 7,000 9.950 19.250 Cost of Goods Sold Ref. DEBIT ACCOUNT NO. 500 CREDIT BALANCE Explanation Date 2019 5-Oct J2 5,000 500 1,000 5.000 5.500 6.500 28 Sp 2020 Sec01 Name Jane Distribution, Inc. GENERAL LEDGER Depreciation Expense - Office Equip Explanation Ref. DEBIT ACCOUNT NO. 612 CREDIT BALANCE Date 2019 31-Oct J3100 100 Depreciation Expense - Kitchen Equip Explanation Ref. DEBIT Date ACCOUNT NO. 613 CREDIT BALANCE 31-Oct J3 1.000 1.000 Wages Expense Ref. DEBIT ACCOUNT NO. 623 CREDIT B ALANCE Explanation Date 2019 23-Oct J21 1.050 J3960 1,050 2010 Explanation Insurance Expense Ref. DEBIT ACCOUNT NO. 637 CREDIT BALANCE Date 2019 31-Oct J3 1 50 Rent Expense Ref. DEBIT ACCOUNT NO. 640 CREDIT BALANCE Date Explanation 2019) 31-Oct J31 ,100 1100 Sp 2020 Sec01 Name Jane Distribution, Inc. GENERAL LEDGER Computer Supplies Expense Explanation Ref. DEBIT ACCOUNT NO. 652 CREDITB ALANCE Date Advertising Expense Ref. DEBIT ACCOUNT NO. 655 CREDIT BALANCE Explanation J11 890 1.990 Mileage Expense Ref. DEBIT ACCOUNT NO. 676 CREDIT BALANCE J3290 290 Miscellaneous Expense Ref. DEBIT ACCOUNT NO. 677 CREDIT BALANCE Explanation Repairs Expense-Computer Ref. DEBIT ACCOUNT NO. 684 CREDIT B ALANCE Name Sp 2020 Sec01 Jane Distribution, Inc. Unadjusted Trial Balance DEBIT 172.360 9,300 3.500 3.600 Cash Accounts Receivable Inventory Prepaid Insurance Prepaid Rent Office Equipment Kitchen Equipment Accounts Payable Common Stock Dividends 6.000 60,000 9.000 200 19.250 Sales Revenue Cost of Goods Sold Wages Expense Advertising Expense Repairs Expense. Computer 6.500 1,050 1.890 450 269.250 $ Name Jane Distribution, Inc. Adjusted Trial Balance 31 Oct19 172 360.00 9.300 3.500 3.450 3300 6,000 $ 100.00 Cash Accounts Receivable Inventory Prepaid Insurance Prepaid Rent Office Equipment Accumulated Depreciation - Office Equipment Kitchen Equipment Accumulated Depreciation - Kitchen Equipment Accounts Payable Wages Payable Common Stock Dividends 60,000 1.000 9,290 960 241.000 200 19.250 6,500 Sales Revenue Cost of Goods Sold Depreciation Expense - Office Equipment Depreciation Expense - Kitchen Equipment Wages Expense Insurance Expense Rent Expense Advertising Expense Mileage Expens Repairs Expense - Computer 1.000 2.010 150 1.100 1,890 290 450 271,600S 271,600
