Hi, so i have a question. So I attached the bookkeping project instructions and posted the excel file that I made. Let me know if I did everything right or if i need to do something else.

Cash 20000 250 600 400 5000 500 500 1000 7000 1200 500 1200 250 2200 120 685 100 200 200 145 87 Accounts Receivable 1000 500 500 12363 Prepaid Insurance 1200 73 1127 Paddleboards 7000 7000 Trailer 1200 River Paddleboards 2200 2200 Leasehold improvement 500 1200 500 Accounts Payable 3 Visa Card Payable 85 3 Common Stock 20000 5000 25000 Rental Income 250 400 500 1150 Dividends Payable 125 85 Dividends 125 125 Clinic Income 600 1000 1600 125 Retained Earnings 125 1150 1000 1600 250 770 73 200 200 3 145 207 100 323 Rent Expense 1000 Marketing Expense 250 1000 Contract Labor 200 200 Utility Expense 120 87 207 250 License & Tax Expense 200 200 Charitable Contribution 100 100 Supplies Expense 685 85 770 Banking Expense 3 3 Insurance Expense 73 73 Maintenance Expense 145 145 Paddleboard Adventures Inc. Adjusted Trial Balance 6/30/2015 Cash Accounts Receivable Paddleboards Prepaid Insurance River Paddleboards Trailer Leasehold Improvement Visa Card Payable Dividend Payable Accounts Payable Common Stock Dividends Rental Income Clinic Income Rent Expense Marketing Expense Office Supplies Expense Contract Labor License & Tax Expense Utility Expense Banking Expense Insurance Expense Maintenance Expense Charitable Contribution Totals Debit $ 12,363.00 $ 500.00 $ 7,000.00 $ 1,127.00 $ 2,200.00 $ 1,200.00 $ 500.00 Credit $ $ $ $ 85.00 125.00 3.00 25,000.00 $ $ 1,150.00 1,600.00 $ 27,963.00 $ 27,963.00 $ $ $ $ $ $ $ $ $ $ $ 125.00 1,000.00 250.00 770.00 200.00 200.00 207.00 3.00 73.00 145.00 100.00 Paddleboard Adventures Inc. Income Statement 30-Jun-15 Revenue Rental Income Clinic Income Total Revenue $ 1,150.00 $ 1,600.00 $ 2,750.00 Expenses Rent Expense Marketing Expense Office Supplies Contract Labor License & Tax Expense Utility Expense Banking Expense Insurance Expense Maintenance Expense Charitable Contribution Total Expenses $ 1,000.00 $ 250.00 $ 770.00 $ 200.00 $ 200.00 $ 207.00 $ 3.00 $ 73.00 $ 145.00 $ 100.00 $ 2,948.00 Net Income $ (198.00) Paddleboard Adventures Inc. Balance Sheet 30-Jun-16 Assets Cash Accounts Receivable Paddleboards Prepaid Insurance River Paddleboards Trailer Leasehold Improvement $ $ $ $ $ $ $ Total Assets $ 24,890.00 Liabilities Visa Card Payable Dividend Payable Accounts Payable $ $ $ 85.00 125.00 3.00 Total Liabilities $ 213.00 Owners Equity Common Stock Retained Earnings $ 25,000.00 $ (323.00) Total Owners Equity $ 24,677.00 Total Liabilities & Owners Equity $ 24,890.00 12,363.00 500.00 7,000.00 1,127.00 2,200.00 1,200.00 500.00 Paddleboard Adventures Inc. Statement of Retained Earnings 30-Jun-16 Retained Earnings at 6/1/16 Net income Dividends Paid Retained Earnings at 6/30/16 $ $ (198.00) $ (125.00) $ (323.00) Bookkeeping Project To: From: Due Date: Topic: BA 211 Students Chris Culver Saturday of week 3 Project Instructions The purpose of this memo is to provide some additional clarity and expectations regarding the upcoming Bookkeeping Project. Background Paddleboard Adventures, Inc. is a local provider of standup paddleboard rentals and clinics. Paddleboard Adventures is a brand new corporation just beginning business in June of 2016. The CEO has ask you to start the companies bookkeeping. Project Instructions Open T accounts for all of the accounts on the June 2016 chart of accounts Post the June Transactions and adjusting entries to the T accounts Prepare an adjusted trial balance after you have posted all the transactions Prepare a profit and loss, and balance sheet for the month ending June 30 Submission Instructions Please prepare the trial balance, profit and loss, and balance sheet in a single word or excel file. Be sure that all three reports have the appropriate 3 line titles. Upload the file to the Moodle website. Notes Unless specifically indicated transactions can be assumed to be in cash. Paddleboard Adventures, Inc. June 2016 Transactions Winter Term BA 211 6/1 6/2 6/3 6/4 6/5 6/7 6/8 6/9 6/10 6/11 6/12 6/13 6/14 6/15 6/16 6/17 6/18 6/19 6/20 6/21 6/22 6/23 6/24 6/25 Owner invests $20,000 in the business in exchange for common stock Business rents a retail space for $1,000 Business Purchases 10 paddleboard for $7,000 Business rents 5 paddleboards to customers for $50 each Business purchases a trailer for $1,200, cash Business offers a paddling clinic and 6 participant pay $100 each for clinic Business pays $500 for a new storefront sign A check is written for $1200 for insurance Customers rent 10 paddleboards for $40 each Business pays $250 to sponsor an upcoming paddleboard race Owner invests an additional $5,000 in exchange for common stock The owner purchases an additional 2 paddleboards specifically for rivers for $2200 A utility bill is received and paid in the amount of $120 The shop provides all the boards and delivery for a clinic to a nonprofit that will pay $1,000 at the end of the month Business purchases $685 worth of shelving to help organize the equipment Business purchases and donates a $100 lifejacket as a prize for the upcoming race Customers rent 10 boards for $50 each for the upcoming race and pays cash The business owes $200 to the State for various licensing fees pays with a check Receive a $500 check from the nonprofit on 6/15 Business opens a visa card at an area credit union Business pays the instructor from 6/7 clinic $200 Business has to do some wiring and modifications on the trailer that cost $145 (cash) Business charges $85 on the new credit card for office supplies A check is written for a telephone bill in the amount of $87 Adjusting 6/30 6/30 6/30 The insurance purchased 6/9 is for 12 months Receives the Visa bill with fees and interest of $3 for the month Board declares a $125 dividend to be paid later Paddleboard Adventures, Inc. Chart of Accounts June 2016 Assets Cash Accounts Receivable Prepaid Insurance Paddleboards River Paddleboards Trailer Leasehold Improvements Liabilities Visa Card Payable Dividends Payable Accounts Payable Equity Common Stock Dividends Retained Earnings Revenue Rental Income Clinic Income Expenses Marketing Expense Rent Expense Office Supplies Expense Insurance Expense Contract Labor License & Tax Expense Banking Expense Maintenance Expense Utility Expense Charitable Contributions