how do i do parts 2 and 3 of this assignment?

This practice set is designed in five parts. In the first part, the student will complete the journal entries for the month in a manual accounting system for Maverick's Boards. In the second part, the student will record the adjusting journal entries. Here, the necessary adjusting month-end entries are entered. Part three consists of preparing the balances in a T-Account for each account. Part four consists of preparing a bank reconciliation. Additionally, journal entries related to the reconciliation are entered into the system. Lastly the trial balance, Income Statement, Statement of Stockholders' Equity and Balance Sheet are prepared Background Maverick's Boards is a surf shop started in January of 2020 by Blaise Maverick. He has saved over $70,000 to invest in the business. He has had a meeting with his lawyer and his Certified Public Accountant (CPA) and they have determined that the business should be organized as a corporation. The CPA has agreed to help Mr. Maverick set up his accounting system. He provided to Mr. Maverick a chart of accounts. He will be using a Perpetual Inventory System. Chart of Accounts Numbering System 1xxxx 15xxx 17xxx 2xxxx 27xxx 39xxx 4xxxx 5XXXX 6xxxx Current Asset Property, Plant & Equipment Accumulated Depreciation Current Liabilities Long-term Liabilities Stockholders' Equity Revenues Cost of Goods Sold Operating Expenses Below is the Chart of Accounts that will be used in the journal entries. Use the account numbers listed below. Chart of Accounts Current Assets 10000 Cash 11000 Accounts Receivable 12000 Inventory - Surfboards 12100 Inventory - Wakeboards 13100 Office Supplies 13200 Shipping Supplies Prepaid Rent 14100 Prepaid Insurance Current Liabilities 20000 Accounts Payable 21100 Note Payable-Wells Fargo 21200 Note Payable - Computer Equip. 23100 Wages Payable 23200 Interest Payable 23300 Sales Tax Payable 23400 Utility Payable 14000 Stockholders' Equity 39003 Common Stock 39005 Retained Earnings 39007 Dividends Long-Term Assets 15000 Furniture and Fixtures 17000 Accumulated Depreciation - Furniture and Fixtures 15100 Computer Equipment 17100 Accumulated Depreciation - Computer Equipment Revenue 40000 Sales 60850 Registration & Dues Fee Expenses 50000 60100 60150 60200 60300 60350 60400 60450 60500 60550 60600 60650 60700 60750 60800 Cost of Goods Sold Legal Expense Office Supplies Expense Shipping Supply Expense Insurance Expense Wage Expense Credit Card Expense Delivery Expense Advertising and Promotion Expense Utility Expense Rent Expense Depreciation Expense Interest Expense Bank Service Fee Gasoline Expense 29. 1/30/2020 Deposit #6 Recorded sales made for the last week of the month. Sales tax is $248. Total cash sales were $3,000. The cost of the merchandise sold was $1,800 (surfboards $1,100; wakeboards $700). 30. 1/31/2020 Ck #1014 Paid the sales tax to the proper taxing authority 31. 1/31/2020 Ck #1015 Declared and paid a cash dividend of $650 to Mr. Maverick. Part Two Instructions Once all journal entries are recorded in the practice set, record the eight adjusting journal entries below and round to the nearest cent if necessary. The following are the adjusting journal entries for the month of January. Record all adjusting entries on January 31, 2020. Record Adjusting Entries: Record the following month end adjusting entries for the month of January. Write the journal entries in the practice set after the original journal entries. Round all answers to the nearest cent. a. $70 of office supplies remained on hand. b. $200 of shipping supplies remained on hand. C. $1,300 of wages for the part-time help from Irene's Temp Services for January should be accrued. Do not worry about payroll taxes; Temp Services Inc. will handle these. d. Make the necessary adjusting entries for one month's depreciation for the Computer Equipment using Straight Line Depreciation. e. Make the necessary adjusting entry for one month's depreciation for the furniture and fixtures using Straight Line Depreciation. f. One month of the prepaid insurance has expired. g. One month of the prepaid rent has expired. h. Record the interest for the loan from Wells Fargo for one month. Make sure you prepare the journal entries and the adjusting entries and write them in the practice set. Part Three Instructions All T-accounts with the correct balances should be prepared. (There is an example of how to set up the T-Accounts in Excel at the end of the practice set. Make sure all accounts that were used in the Chart of Accounts are included and if they have a zero balance that you place the zero on the normal balance side.) Blackboard Instructions: When entering in the journal entries into Blackboard please follow the example below exactly WINTER 1. There will be a box where you will enter each transaction on one line. Firs debit and then the credit. Do NOT enter any account names only accou numbers, Use Dr for Debit and Cr for Credit with no period. Also please put the cents even if it is zero. See example below: Dr 10000 $50,000.00 Cr 39003 $50,000.00 Notice that the account numbers do NOT have commas and the dollar amounts have commas and dollar signs and all dollar amounts have the cents even if it is zero. 2. If there is more than one debit or credit enter the debits first with the smallest account number(s) listed first and then the credits with the smallest account number listed first. Make sure that you enter Dr or Cr before each account number. See example below: Dr 12000 $8.000.00 Cr 10000 $1,000.00 Cr 20000 $7000.00 3. For all sales, list the Sale entry first then the cost of Goods Sold entry second. The entire entry for both should be on one line. First the sale, as shown below, then the cost of the inventory. Again, put the smallest account number first, Dr 10000 $30,000.00 Cr 23300 $500.00 Cr 40000 $29,000.00 Dr 50000 $15,000.00 Cr 12000 $8,000.00 Cr 12100 $7,000.00. Both entries should all be on one line. 4. If there is no journal entry and you only need to put in a number, please enter the amount as the dollar amount or as a number as the example below. $15,000.00 or 15,000 5. When entering the ending balances for the T-Accounts enter the debit or credit first and the amount last. You do not need to enter the account number. See example below. Dr $10,000.00 or Cr $10,000.00 6. If there is no journal entry to be written, please write No JE for no journal entry. See below for example. NO JE General Journal: See how to enter information in Example #1. Example #2 shows you how to enter a Sale and the COGS and Inventory amount. *Notice how the smaller account number is first when there is more than one debit or credit. Example #3 If No Journal Entry. All examples are in the instructions in the Blackboard Instructions on page 7. Transaction Dr Date Account No. 10000 Dollar Amount $35,000.00 Account No. 39003 Dollar Amount $35,000 1/2/2020 Example #1 Dr Cr 1/2/2020 Example 12 Dr 11000 $10,500.00 Cr *23300 Cr 40000 $500.00 $10,000.00 $2,500.00 $2,500.00 Dr 50000 $5,000.00 Cr *12000 12100 Example #3 NO JE Template for T-Accounts: Prepare the T-Accounts in Excel and use the accounts listed in the Chart of Accounts Cash Debit Credit Accounts Receivable Debit Credit Inventory-Flowers Debit Credit Inventory-Containers Debit Credit Office Supplies Debit Credit Shipping Supplies Debit Credit 0 o ol 0 0 0 Prepaid Rent Debit Credit Prepaid Insurance Debit Credit Prepaid Domain Charges Debit Credit Computer Equipment Debit Credit Accumulated Depr.- Comp. Equipment Debit Credit Website Development Debit Credit o ol 0 Accumulated Depr.. Website Debit Credit Accounts Payable Debit Credit Note Payable Wells Fargo Debit Credit Note Payable Computer Inc. Debit Credit Wages Payable Debit Credit Interest Payable Debit Credit 0 o 0 0 Sales Tax Payable Debit Credit Utilities Payable Debit Credit Mortgage Payable Debit Credit Note Payable Debit Credit Common Stock Debit Credit Retained Earnings Debit Credit 0 0 0 0 0 Dividends Debit Credit Shipping Supplies Expense Debit Credit Sales Debit Credit COGS Debit Credit Legal Expense Debit Credit Office Supplies Expense Debit Credit 0 0 0 0 Advertising & Promotion Expense Debit Credit Domain Expense Debit Credit Insurance Expense Debit Credit Wages Expense Debit Credit Credit Card Expense Debit Credit Delivery Expense Debit Credit 0 ol 0 0 0 Utility Expense Debit Credit Rent Expense Debit Credit Depreciation Expense Debit Credit Interest Expense Debit Credit Bank Service Fee Debit Credit 0 0 0