i need help with the assignment below

Complete the excel. I hope I can get the right answers.

Part 1 Grindstone Paving has the following information for one item they sell. At the beginning of July, they had 50 units with a cost of $25 each. Grindstone uses the perpetual inventory system and uses FIFO for inventory valuation. Grindstone charges 5% sales tax on all sales. 50 25 5 Prepare the following journal entries. Use the table below the transactions to calculate inventory valuation. 500 26 Date Transaction Jul 8 Purchased 500 units at $26 each on account, terms 2/10, net 30. A portion of the inventory from the above purchase was defective. Grindstone Jul 10 returned 100 units to the supplier. Jul 12 Jul 14 Jul 18 Sold 300 units to SouthShore on account at $60 per unit plus tax, terms 2/10, net 30. The customer from Jul 12 returned 30 units that were not needed. Process the return, including sales tax. The customer from Jul 12 paid their amount owing and claimed their discount. Note the discount is not taken on the sales tax amount. Jul 22 Purchased 350 units on account at $27 per unit with terms of 3/10, net 30. Jul 23 Sold 200 units for $60 each plus tax. Received cash. Jul 25 Took advantage of discount offered and paid up amount owing from the Jul 22 purchase. Jul 31 Remitted the sales tax owing to the government. Jul 31 Grindstone provides warranties on the products they sell. They estimate the warranty to be $2 for each item sold (less any returns). 1000 Date $1,000 Purchases Quantity Unit Cost Value Quantity Sales Unit Cost Balance Value Quantity Date Description DR What is the value of ending inventory at the end of July? Part 2 At the end of July, Grindstone prepares their payroll for the month. The accountant has calculated the following amounts for gross pay and deductions. Prepare the journal entries to pay the employees in cash, and record the employer contributions. Gross Pay Federal Income Tax State Income Tax FICA Tax Payable FUTA Payable SUTA Payable Date 25,000 2,500 1,250 1,913 150 1,350 Description DR CR Part 3 On July 1, 2017, Grindstone made a lump sum purchase of capital assets which will be used as an expansion of their store . Assume the company paid for the assets with $640,000 cash. Calculate the cost of each asset and prepare the journal entry for the purchase. $640,000 Item Appraised Value Percent Applied to Cost Land $120,000 Building 400,000 Equipment 280,000 Date Description DR CR The equipment purchased on July 1, 2017 has an estimated useful life of 4 years. The company uses the double-declining balance method to depreciate equipment. At the end of the useful life, the equipment is not expected to have any residual value. The company uses the half-year rule to account for depreciation in the year of purchase and the year of disposal. Prepare the depreciation table below. 4 Net Book Value at Depreciation Accumulated Net Book Value at Year Beginning of Year Expense Depreciation to Date End of Year 2017 2018 2019 2020 2021 of July, they had 50 FIFO for inventory ventory valuation. 100 300 60 30 350 27 200 60 2 Balance Unit Cost Value CR alculated the mployees in cash, and sed as an expansion he cost of each asset mpany uses the the equipment is not depreciation in the Net Book Value at End of Year