I was wondering if you could create a template for an accounting theory assignment I have. I just need a template as a guide. I have the information myself that I will put in. It needs to be a spreadsheet in excel. If you could help me with this I would appreciate it. Thank you in advance.

Bearing, Inc. started business on January 1, 2017. The following is a list of information that will pertain to this Corporation: Bearing is a Corporation that sells 3 styles of mirrors (M12, M16 & M17) The company uses the perpetual FIFO method in accounting for its inventory. Bearing makes its adjustments at the end of each year All sales and inventory are purchased on account Be sure to round all numbers to the nearest dollar. The company had the following Post-Closing Trial Balance at 12/31/2017 Bearing uses, the 200% double declining balance, Half Year, method to depreciate all 5, 7 & 10-year property Bearing uses, the SL, mid-month basis to depreciate all real property Income tax rate is 35% The $110,000 of equipment has an expected life of 7 years and no salvage value The $220,000 building has an expected life of 39 years and no salvage value Inventory at 1/1/18 consists of: o M12 9,500 units at 10.75 each o M16 5,750 units at 13.25 each o M17 5,500 units at 14.10 each Date Account Name Debit Credit Cash 2,175,254 Accounts Receivable 641,475 Allowance for Bad Debt 12,830 Inventory 255,862 Supplies on Hand 400 Prepaid Insurance 75 Prepaid Lease 3,400 Land 50,000 Building 220,000 A/D - Building 5,641 Equipment 110,000 A/D - Equipment 15,714 Accounts Payable 472,475 Income Tax Payble 35,047 Interest Payable 153,500 Unearned Rent 1,200 Dividend Payable 45,000 Notes Payable 1,925,000 Common Stock 100,000 APIC - Common Stock 500,000 Retained Earnings 190,059 ACCT 2690 Capstone Accounting Accounting Theory Page 2 Notes Payable at December 31, 2017 consisted of: o Foley Bank 1,800,000, 9% interest rate. Interest is paid on Feb 1st of each year, principal to be repaid on 2/1/2021 o Northern bank 125,000, 8% interest rate, Interest is paid on June 30th of each year, principal to be repaid on June 30, 2019 The following transactions and events occurred in 2018. 2018 1/1 Issued 170,000 share of $1 par common stock to investors at $15 per share 1/1 Paid monthly rent on computer equipment, $1,200 1/1 Issued 15,000 share of $10 par, 10% preferred stock to investors at $30 per share 1/1 Issued $400,000 in bonds at par value. The bonds have a stated interest rate of 10%, payable semiannually on July 1 and January 1 1/1 The estimated useful life and salvage value for the building that was purchased in 2017 was changed. It is now estimated that the building has a remaining life (as of 1/1/18) of 20 years and a salvage value of $20,000. 1/1 Purchased a building and land for $790,000. The building has a 25 year expected useful life and a $70,000 expected salvage value. The land is valued at $80,000. 1/1 Leased equipment under a ten-year lease. The ten lease payments of 20,000 each are to be made on December 31 of each year. The present value of the equipment is 134,202. The interest rate is 8% (life 10 years, no salvage value) 1/10 Purchased $750 of supplies for cash 1/15 Purchased inventory on account 2,500 M12 mirrors for $10.75 each, 2,000 M16 for $13.25 each and 2,750 M17 for $14.10 each. 1/15 Made a payment of $420,000 to pay off several Accounts Payable accounts 1/15 Paid the cash dividend declared in November 2017 1/31 Paid $1,600 for a 1 year insurance policy (effective 2/1/18 1/31/19) 2/1 Bearing repurchased 15,000 shares of its own common stock to be held as treasury stock. The price paid was $34 per share 2/1 Paid the interest on the loan from Foley Bank 2/2 Paid for inventory purchased on 1/15 2/15 Purchased $250 of supplies for cash 2/20 Sold Inventory on account (sold 1800 M12 for $22, 1200 M16 for $27 and 1700 M17 for $30) terms 2/10, net 30 3/2 Received notice that customer from 2017 declared bankruptcy and will not be able to pay the remaining balance owed on their bill, $4,200 3/5 Sold Inventory on account (sold 50 M12 for $22, 100 M16 for $27 and 750 M17 for $30) terms 2/10, net 30 3/10 Received payment for the 2/20 transaction 3/12 Received payment for merchandise sold on 3/5 3/15 Paid income taxes owed from the 2017 fiscal year. 3/20 Purchased inventory on account 4000 M12 mirrors for $11.00 each, 2000 M16 for $13.75 each and 3750 M17 for $14.00 each. Terms net 30 3/25 Signed a 1-year lease for a copy machine. Lease payments are to be made the first day of the month in the amount of $200 3/29 Paid for merchandise purchased on 3/20 ACCT 2690 Capstone Accounting Accounting Theory Page 3 4/1 Made lease payment on copy machine 4/2 Sold Inventory on account (sold 500 M12 for $22, 1,000 M16 for $27 and 1,750 M17 for $30) terms 2/10, net 30 4/10 Customer made a payment of $44,345 from the 4/2 transaction (this was amount due less discount) 5/1 Made lease payment on copy machine 5/1 Sold Inventory on account (sold 2800 M12 for $22, 2200 M16 for $27 and 2700 M17 for $30) terms 2/10, net 30 5/20 Customer from the 5/1 transaction returned inventory (200 M12) all inventory was still in good working order 5/20 Customer paid their remaining balance from the 4/2 transaction 6/1 Made lease payment on copy machine 6/1 Purchased inventory on account 1500 M12 mirrors for $11 each, 2500 M16 for $13.75 each and 2750 M17 for $14.25 each. 6/5 Returned 500 units of M17 from the 6/1 purchase 6/10 Paid the remaining balance from the 6/1 purchase 6/20 Customer from the 5/1 transaction made a payment of $10,000 7/1 Paid the interest on the bonds 7/1 Made interest payment of equipment note 7/1 Made lease payment on copy machine 7/1 Purchased $125,000 of equipment using a bank loan at 7% interest to be paid in 2 years. Interest is due on June 30 of each year. The equipment has a life of 7 years and a 5,000 salvage value. 7/1 Sold Inventory on account (sold 1250 M12 for $22, 2750 M16 for $27 and 2000 M17 for $30) terms 2/10, net 30 8/1 Made lease payment on copy machine 8/2 Purchased $600 of supplies for cash 8/10 Received of payment from the 7/1 transaction 8/10 Purchased inventory on account 5000 M12 mirrors for $11.00 each, 3000 M16 for $13.75 each and 4500 M17 for $14.25 each. net 30 9/1 Made lease payment on copy machine 9/1 Paid $8,000 cash to lease a truck for one year 9/15 Paid for inventory purchased on 8/10 10/1 Made lease payment on copy machine 10/15 Purchased $350 of supplies for cash 11/1 Purchased inventory on account 2000 M12 mirrors for $111.50 each, 3000 M16 for $13.75 each and 2750 M17 for $14.25 each. 11/1 Received $2,400 from a tenant for 6 months rent (11/1/18 to 4/30/19) 11/1 Made lease payment on copy machine 11/17 Paid a cash dividend of $.30 per share on outstanding shares and paid dividends to preferred shareholders 12/1 Sold Inventory on account (sold 8500 M12 for $22, 7500 M16 for $27 and 9600 M17 for $30) terms 2/10, net 30 12/1 Made lease payment on copy machine 12/15 Purchased inventory on account 12,000 M12 mirrors for $11.25 each, 8,000 M16 for $14 each and 9,750 M17 for $14.35 each. ACCT 2690 Capstone Accounting Accounting Theory Page 4 12/28 Sold Inventory on account (sold 5500 M12 for $22, 4500 M16 for $27 and 6500 M17 for $30) terms 2/10, net 30 12/25 Received payments totaling $1,462,000 from customers for past due invoices 12/31 Made Lease Payment on 10-year lease Other Information: At year end $250 worth of supplies are on hand The company uses the % of Receivables method in estimating bad debts; 2% of the ending receivables balance is deemed to be uncollectible Required: Prepare all journal entries to record the information for 2018. Prepare all adjusting journal entries as necessary Prepare an adjusted Trial Balance as of December 31, 2018 Prepare an income statement, statement of retained earnings and a balance sheet as of December 31, 2018 Prepare a cash flow statement, using the indirect method, for the year ended December 31, 2018 Close all accounts as necessary and prepare a post-closing Trial Balance Please include a sheet on how you calculated your adjusting Journal entries and inventory