I have attached two documents one is a word document the other excel. The word document explains the problem while the excel sheet goes along with it. Thank you very much for your time and help.

Excel Problem practice Your friend Stanley stops by your office with all of his business papers in one big mess. His bookkeeper quit. He begs you to create some financial statements for him and you agree. After sorting out the mess, this is what you come up with: Cash on hand: $2,605 Accounts Receivable: $2,720 Supplies Inventory: $2,100 Prepaid Insurance: $2,000 Land: $20,000 Office Equipment: $1,800 Accumulated Depreciation: $100 Accounts Payable: $1,390 Owner's Investment: $25,000 Owner Withdrawal: $4,000 Sales Income: $17,500 Supplies Expense: $700 Rent Expense: $1,600 Advertising Expense: $4,525 Utilities Expense: $985 Miscellaneous Expense: $455 Insurance Expense: $400 before adjusting entry Depreciation Expense: 100 before adjusting entry Using Excel, create an unadjusted trial balance, adjustments and adjusted trial balance. Using the excel spreadsheet provided, list the accounts above. Then place the balance in the appropriate column, debit or credit, depending on normal balance. Dust off your memories, as you need to remember that: Asset normal balance is debit Liabilities normal balance is credit Equity (owner investment) normal balance is credit Equity (drawing) normal balance is debit Revenue normal balance is credit Expense normal balance is debit Enter each account name and input the balance in the appropriate column: debits or credits. I have inputted a few numbers to help you get started. Your worksheet should look like this: Fill in the remaining account balances and sum the debits and credits for the unadjusted trial balance. USE THE SUM FUNCTION.... Be sure debits equal credits before you move on. Next prepare the adjustments: You review what has been happening in the past. The following adjustments need to be made: Supplies inventory counted: $1,300 Insurance for the month: $200 Accumulated Depreciation: $500 The first adjusting entry will be a debit to supplies expense and a credit to supplies. For what $ amount? The second entry will be a debit to Insurance expense and a credit to prepaid insurance...the expense is the amount \"used up\". The third entry, you should be able to do as you have done it numerous times in QB. Place the adjustments in the adjustment column (like QB automatically does for you.) Now that the adjustments are in the appropriate column, recalculate the account balances. (Note only the account balances for which there have been adjustments will need to be updated). NEVER CASH!!! Continue... Based upon the Adjusted Trial balance, in a new workbook (tab) create: Profit and Loss. As you will recall a Profit and Loss lists all revenue accounts and all expense accounts ONLY. The difference between the Revenue less Total Expense is Net Income/Loss. Statement of Owner's Equity. After you complete the P&L, complete the Statement of Owner's Equity. The Statement of Owner's Equity will look like this: o Beginning Owner's Equity ($25,000), o Plus Net Income from the Profit and Loss, o Minus Drawing from the adjusted trial balance o Equals Ending Owner's Equity Balance Sheet. The balance sheet lists all assets, liabilities and owner's equity. The balance for owner's equity comes from the Ending Owner's Equity from the Statement of Owner's Equity above. You may need to dig up you Financial Accounting book or google the internet. Feel free! My intention here is to be sure you remember how the financial statements fit together, the impact of adjustments and how to use basic excel commands: addition, subtraction and summation. Good luck....Excel on.... List accounts from problem. What is the normal balance? Cash normal balance is a debit so but balance in debit column. Account Cash Accounts Recievable Supplies Inventory Prepaid Insurance Land Office Equitment Accumulated Depreciation Accounts Payable Owner Investment Owner Withdrawl Sales Income Supplies Expense Rent Expense Advertising Expense Utilities Expense Miscellaneous Expense Insurance Expense Depreciation Expense Totals Stanley Working Paper Unadjusted TB Debit Credit 2,605 2,750 25,000 4,525 Adjustments Debit Credit Adj Trial Balance Debit Credit Notice the merge and center of the titles, larger font for titles, an highlight for fun. Is there a way to fomat the cells so there are commas and no cents