I am very confused about this assignment any help. Am i on the right track. can i get some explanation here

Chapter 3 Assignment Name: Instructions Using Microsoft Excel complete the following: A. Calculate the amounts of the adjusting entries and enter them in the adjustments column. B. Enter the amounts in the adjusted trail balance column. C. Prepare the Income Statement D. Prepare the Statement of Owner's Equity E. Prepare the Balance Sheet Hints: Only enter infromation in the cells with grey backgrounds. Some grey cells do not require entries. Information Jack Smith opened a new business on July 1. The name of the company is Computer Services. The unadjusted trial balance as of July 31 is presented below. Additional information: 1 An analysis of Prepaid Insurance shows that $75 of coverage has expired. 2 An inventory count shows that supplies costing $450 are available at the end of the month 3 Monthly depreciation on the equipment is $100. 4 On July 1 Computer Services rented part of their office for three months collecting $525. 5 Salary expense of $800 have been incurred but are not paid as of July 31. 6 Jack determined that there are $700 of revenues earned but not recorded as of July 31. 7 Electric used during the month but not recorded was $122. A&B Unadjusted Trial Balance Dr. Cr. 3,600 2,150 800 450 6,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equip Accounts Payable Salaries Payable Unearned Rent Revenue Jack Smith, Capital Jack Smith, Drawing Service Revenue Rental Revenue Depreciation Expense Insurance Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense 350 75 0 460 0 525 10,000 100 750 5,365 0 0 0 700 1,900 0 0 Totals 16,350 C. Adjusted Trial Balance Dr. Cr. Adjustments Dr. Cr. 100 75 350 16,350 Computer Services Income Statement For Month Ended July 31, 2011 Revenues Total Revenue Expenses Total Expense Net Income D Computer Services Statement of Owner's Equity For Month Ended July 31, 2011 Jack Smith, Capital, July 1 Plus: 0 Less: E Computer Services Balance Sheet July 31, 2011 Assets Total Assets Liabilites Total Liabilites Equity Total Liabilites and Equity