Need project done by 12PM tomorrow. I have already completed it but I think all of my answers are wrong.

ACCT 212 INDIVIDUAL LEARNING PROJECT 1 Assignment instructions are as follows: 1. Use the information in the provided trial balance to create the following financial statements: a. 2016 Income Statement b. 2016 Balance Sheet c. 2016 Cash Flow Statement 2. Create ONE Excel Workbook with the following tabs: a. Tab 1: Trial Balance for 2015 and 2016 provided b. Tab 2: Closing Entries for 2015 Income Statement c. Tab 3: 2016 Income Statement d. Tab 4: Closing entries for 2016 e. Tab 5: 2016 Balance Sheet post-closing entries (Use the 2015 Retained Earnings balance as your beginning 2016 balance) f. Tab 6: Cash Flow Statement 3. Formulas: a. Use Excel to setup the financial statements by linking the values from the trial balance. b. Use Excel formulas to calculate all totals and sub-totals. 4. Save your Excel workbook as last name _ Project1. (For example: Koss_Project1.xls). 5. Upload the completed assignment to BlackBoard using the link provided. GRADING RUBRIC: FORMATTING/ACCURACY/COMPLETENESS (15%) Excel spreadsheets should be formatted and easy to read/follow. This includes: Underlining totals and subtotals for financial statements. (Total Assets, Total Liabilities, Total Equity, Net Income, etc.) Consistency in formatting for dollar and percent cells. (i.e. if decimals are used, they should be consistently. Are dollar signs used consistently?) ACCURACY/COMPLETENESS (15%) All required financial statements were included and were accurately pulled from the Trial Balance. CLOSING JOURNAL ENTRIES (10%) All Income Statement accounts are properly closed. Retained Earnings balance is properly calculated. INCOME STATEMENT (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement headings are correct. BALANCE SHEET (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement headings are correct. CASH FLOW STATEMENT (20%) All sub-totals and totals are accurately calculated (using Excel formulas). Ensure that $ signs, and statement headings are correct. KELLEY ENTERPRISES 2015 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation and amortization Long-term investments Goodwill Intangible assets, net of accumulated amortization Accumulated amortization of intangible assets Other assets Current installments of capital lease obligations Accounts payable Accrued payroll, bonus and other benefits due team members Dividends payable Other current liabilities Long-term capital lease obligations, less current installments Other long-term liabilities Common Stock Treasury Stock Retained earnings (beginning of year) Sales Cost of Goods Sold Selling, general and administrative expenses Pre-opening expenses Relocation, store closure and lease termination expenses Investment and other income Income tax expense Debit $ $ $ $ $ $ 364 155 218 500 307 3,363 $ $ $ 63 710 99 $ 182 $ Credit $ 200 $ 20 $ $ $ $ $ $ $ $ 3 295 436 45 473 62 658 2,904 $ $ 1,481 15,389 1,152 $ $ $ $ 9,973 4,472 67 16 $ 342 $ 17 $ 21,983 $ $ 21,983 - 2016 Trial Balance Account Title Cash and cash equivalents Short-term investments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation and amortization Long-term investments Goodwill Intangible assets, net of accumulated amortization Accumulated amortization of intangible assets Other assets Current installments of capital lease obligations Accounts payable Accrued payroll, bonus and other benefits due team members Dividends payable Other current liabilities Long-term capital lease obligations, less current installments Other long-term liabilities Common Stock Treasury Stock Retained earnings (beginning of year) Sales Cost of Goods Sold Selling, general and administrative expenses Pre-opening expenses Relocation, store closure and lease termination expenses Investment and other income Income tax expense Additional Information: The company purchased new equipment for $1,404, but there were no disposals of property/equipment. The company purchased $125 in new investments (including both short and long-term), and sold no investments during the year. The company made payments of $3 on its capital lease obligations, and incurred new capital lease obligations of $8. The company made no payments on its long-term liabilities. Any change in this account reflects new long-term liabilities incurred. The company sold stock during the year, and there were no additional transactions affecting the common stock account. The company purchased treasury stock during the year, and there were no additional transactions affecting the treasury stock account. The company declared dividends of $200 during the year. Debit Credit $ 563 $ 200 $ 363 $ 792 $ 170 $ 4,767 $ $ $ 143 710 99 $ 182 $ 375 $ 30 $ 5 $ 473 $ 487 $ 50 $ 627 $ 65 $ 1,342 $ 3,194 $ 1,214 $ 1,817 $ 16,061 $ 10,415 $ 4,632 $ $ $ 401 $ 125 $ 24,651 $ 24,651 $