How do I prepare the following statements and prepare closing entries in general journal form for the following transactions?

1. Prepare the following financial statementsmust be done on Excel.
   1. A single-step income statement
   2. A multi-step income statement
   3. A statement of Retained Earnings
   4. A classified Balance Sheet
   5. A cash flow statement using the indirect method.
2. Prepare Closing entries in General Journal Form

Transactions to Record for the month of March

1-Mar	Issued 1,000 shares of F&F common stock for $30,000. The common stock has a $10 par value.
1-Mar	Paid $4,500 for rent for the Months of March and April
1-Mar	Hired two employees. Each employee will be paid $20 per hour. Employees will start on March 8th.
1-Mar	Borrowed $10,000 cash on a 3-year, 6% Note Payable, Interest is paid quarterly with the first payment due on June 1. Assume all months have 30 days. See Account Titles
1-Mar	Purchased with cash four identical computers for $1,500 each. 4 desks with chairs for $800 each, 4 filing cabinets for $300 each and a $700 printer.
3-Mar	Purchased $2,500 of supplies on account.
5-Mar	Paid $250 for phone and internet service for the month of March.
6-Mar	Obtained Insurance coverage for $3,600 for a six-month period from March 1st to August 31st. Paid the premium in Cash.
10-Mar	Placed ads in the local papers. Each ad costs $80 per week and will run for the 3 weeks left in March and 4 weeks into April. (Total of 7 weeks.) The ads were placed on account.
15-Mar	Billed customers $4,500. $2,000 was for accounting services and the remainder for tax work.
16-Mar	Paid employees $1,200 for their services for the first week.
17-Mar	Several customers paid in advance for the firm to prepare their tax returns. F&F received a check for $2,700.
20-Mar	Paid $800 toward the cost of supplies. See March 3rd transaction
22-Mar	Received Check for $2,400 from customers for the services billed on March 15.
23-Mar	Paid employees $1,750 for services from March 15 to March 22
25-Mar	Determined that a more powerful computer was need. One of the $1,500 computers was sold for $1,200 and a new computer costing $2,800 was purchased for cash. Ignore any depreciation on the computer sold.
28-Mar	F&F was informed that a customer who was billed $150 on March 15th had declared bankruptcy. Using the allowance method, write off this account.
29-Mar	Repurchased 200 shares of F&F common stock at $25 per share. These shares will be held in the treasury and will not receive cash dividends.
31-Mar	Paid employees $1,900 for services from March 23 to March 30
31-Mar	Billed Customers $7,900. $3,000 was for accounting services and the remainder for tax work.
31-Mar	Declared and Paid a cash dividend of $1.00 per share. (Treasury Stock does not receive this dividend.)

Then Post the transactions to T Accounts. You can prepare an unadjusted trial balance using the worksheet to check the equality of Debits and Credits. If you dont want the worksheet, just prepare an unadjusted trial balance.

Using your knowledge, prepare the following adjusting entries. You can use the worksheet to make these entries or just record them in the general journal.

• The Allowance for Doubtful Account should be equal to 4% of Accounts Receivable.
• Adjust for insurance
• Adjust for Advertising
• The Utility Bill arrived for the month of March. It was for $295 and will be paid in April.
• Supplies of $718 remain on hand
• Make sure Rent is correct.
• The 3-$1,500 computers and the printer should be depreciated over 3 years using the straight-line method. Assume there is no salvage value. You will be calculating depreciation for one month.
• The desks, chairs, and filing cabinets should be depreciated for the month assuming an 8 year life and a 1,000 salvage value. The straight line method will be used.
• 35% of the Unearned Tax Consulting Revenue was earned during the period
• Accounting Consulting Revenue of $1,400 was earned during the period, but was not billed or collected. (Ignore for bad debt adjustment)
• Employees worked for 15 hours on March 31. They will be paid in April.
• Accrue 1 months interest on the note payable
• The Company is in the 20% tax bracket. This entry cannot be made until Net Income is determined.

Using the worksheet if you did one prepare an Income Statement both single and multi-step, a Statement of Retained Earnings and a Classified Balance Sheet. If you did not do the worksheet you must still prepare these statements, but you should not split Operating Expenses in General Expenses and Selling Expense you may keep them under the category of Operating Expenses.

Using the Statements you prepared, prepare a Statement of Cash Flows using the Indirect Method.

Prepare closing entries at the end of the month.