Okay, I have this project and have no clue how to do it and need helping filling in this information
1. CREATE JOURNAL ENTRIES FOR THE September 2019 TRANSACTIONS BELOW FOR SUNFLOWER DESIGNS: a. On September 1, $250 of office supplies was purchased on credit; the terms of the invoice were net 30. All of the supplies were used during the month of September. b. On September 1, a 24-month liability insurance policy was purchased to cover Sunflower Designs. The full cost of the policy, $2,850, was paid in cash on the same date. c. On September 1, a desktop computer was purchased on credit totaling $975. The estimated useful life of the computer is five (5) years and is expected to have no salvage value. The invoice terms were 2/10, net 30. d. On September 5, Sunflower Designs purchased $2,700 worth of inventory items for resale. These items were purchased on credit and the invoice term is 2/10, net 30. e. On September 9, a check was issued to pay for the inventory purchased on September 5. f. On September 10, Sunflower Designs paid for the office supplies purchased on credit on September 1. g. On September 12, Sunflower Designs completed and delivered an interior design layout to a customer for $5,800. The customer had paid for the services in advance in a previous month, and Sunflower Designs had appropriately recorded the deposit. h. On September 14, Sunflower Designs completed, delivered, and billed an interior design layout for $13,800 to a new customer. The terms of the invoice were 2/10, net 30. i. On September 16, Sunflower Designs paid $4,525 in wages to a temporary employee. On the same date, the company remitted payroll taxes of $905, previously accrued, to the appropriate government entities. j. On September 18, Sunflower Designs received a refund of $22 from their office supply vendor for items that were returned on the September 1 purchase. k. On September 20, a customer paid the balance due for an interior design layout. The invoice for these services was sent to the customer on June 20, 2018. The contract price was $3,940. 1. On September 24, Sunflower Designs sold a side table from inventory for $375. The inventory cost for this item was $150. The customer paid cash for this purchase. m. On September 26, $675 worth of inventory was returned to supplier because of defects. The inventory had been purchased on account in August and had not been paid for. n. On September 30, the customer delivered a check for one-half of the interior design invoice delivered on September 14. 2. CREATE THE SEPTEMBER 31, 2018 UNADJUSTED TRIAL BALANCE 3. CREATE ADJUSTING JOURNAL ENTRIES FOR SEPTEMBER 31, 2018: o. Record the depreciation for the laptop purchased on September 1. p. Record the September 2018 depreciation for all computers & software owned before the September 1 purchase. These items are being depreciated over 5 years using the straight- line method with no salvage value. q. Record the September 2018 depreciation for the furniture & fixtures. These items are being depreciated over 7 years using the straight-line method with no salvage value. r. Record the adjusting entry for September's rent. Sunflower Designs paid $3,600 in advance for 6 months' rent on June 1, 2018. All previous months' adjusting entries were made as required. s. Record the adjusting entry for the consumption of prepaid insurance for the month of September. The preexisting policy has 42 months remaining as of September 1, and recall that the new policy provides coverage for 24-months. The previous months' adjusting entries were made as required. t. Record the amount due to an employee for time worked during September, but not paid. The amount earned by the employee was $3,416. 4. CREATE THE ADJUSTED TRIAL BALANCE. 5. CREATE THE SEPTEMBER 31, 2018 INCOME STATEMENT. 5. CREATE THE SEPTEMBER 31, 2018 INCOME STATEMENT. The amount for each account must be linked from the ending balances in the Trial Balance. All sub-totals and totals must be accurately calculated using Excel formulas. 6. CREATE THE SEPTEMBER 31, 2018 BALANCE SHEET. The amount for each account must be linked from the ending balances in the Trial Balance. All sub-totals and totals must be accurately calculated using Excel formulas. Note: The trial balance may include decimals, but the financial statements should not show decimals. Last edit: 7/18/19 Page 2 of 3 GRADING RUBRIC 1. JOURNAL ENTRIES/ADJUSTING JOURNAL ENTRIES (25%) a. All required journal entry items are present and correctly formatted. b. Journal entries are accurate and balance. 2. TRIAL BALANCE/ADJUSTMENTS/ADJUSTED TRIAL BALANCE (25%) a. All journal entries are properly reflected on the trial balance. b. All closing entries are properly reflected in the adjustments. C. The adjusted trial balance reflects the entries from the trial balance and the adjustments. c11 x fx E F G D Debit 5,000 Credit This example is for Format & content only Date Account 9/1/19 Cash Accounts Receivable To record customer payment on account 5,000 Sept. 1 office supplies expense 250 250 11 b. Sept. 1 2850 2850 C. Sept. 1 D11 X Transactions (from journal Entries a. through n.) Debit Credit September 30, 2019 Unadjusted Trial Balance Debit Credit Adjusting Journal Entries (Entries o. through t.) Debit Credit Adjusted/Ending Trial Balance Debit Credit September 1, 2019 Beginning Balances Debit Credit 81,979.00 8,600.00 5,810.00 3,855.00 3,000.00 3,250.00 975.00 6,750.00 2,250.00 1,925.00 990.00 296.00 6,350.00 00 OHN Acct # Description 1000 Cash 1010 Accounts Receivable 1020 Inventory 1030 Prepaid Insurance 1040 Prepaid Rent 1100 Building 1110 Computers & Software 1115 Accumulated Dep Comp 1120 Furniture & Fixtures 1125 Accumulated Dep F&F 1130 Land 1140 Machinery & Equipment 1150 Accumulated Dep M&E 2000 Accounts Payable 2010 Payroll Tax Payable 2020 Sales Tax Payable 2030 Unearned Revenue 2040 Line of Credit 2050 Notes Payable 2060 Wages Payable 3000 Peters, J., Capital 3010 Peters, M., Capital 3050 Retained Earnings 5000 Designing Revenue 5010 Furnishing Sales 5020 Cost of Goods Sold 6000 Vendor Compensation 6010 Contract Labor Expense 6020 Materials Expense 6030 Supplies Expense 6040 Wages Expense 6050 Depreciation Expense 6060 Insurance Expense 6070 Office Rent Expense 6080 Office Supplies Expense Journal Entries 4,025.00 1,250.00 1,250.00 93,933.00 Trial Balance Income Statement Balance Sheet + 5UUU Desighing Revenue 5010 Furnishing Sales 5020 Cost of Goods Sold 6000 Vendor Compensation 6010 Contract Labor Expense 6020 Materials Expense 6030 Supplies Expense 6040 Wages Expense 6050 Depreciation Expense 6060 Insurance Expense 6070 Office Rent Expense 6080 Office Supplies Expense 6090 Payroll Tax Expense 6100 Postage Expense 6110 Small Tools Expense 113,244.00 113,244.00

Question

Okay, I have this project and have no clue how to do it and need helping filling in this information image text in transcribed

1. CREATE JOURNAL ENTRIES FOR THE September 2019 TRANSACTIONS BELOW FOR SUNFLOWER DESIGNS: a. On September 1, $250 of office supplies was purchased on credit; the terms of the invoice were net 30. All of the supplies were used during the month of September. b. On September 1, a 24-month liability insurance policy was purchased to cover Sunflower Designs. The full cost of the policy, $2,850, was paid in cash on the same date. c. On September 1, a desktop computer was purchased on credit totaling $975. The estimated useful life of the computer is five (5) years and is expected to have no salvage value. The invoice terms were 2/10, net 30. d. On September 5, Sunflower Designs purchased $2,700 worth of inventory items for resale. These items were purchased on credit and the invoice term is 2/10, net 30. e. On September 9, a check was issued to pay for the inventory purchased on September 5. f. On September 10, Sunflower Designs paid for the office supplies purchased on credit on September 1. g. On September 12, Sunflower Designs completed and delivered an interior design layout to a customer for $5,800. The customer had paid for the services in advance in a previous month, and Sunflower Designs had appropriately recorded the deposit. h. On September 14, Sunflower Designs completed, delivered, and billed an interior design layout for $13,800 to a new customer. The terms of the invoice were 2/10, net 30. i. On September 16, Sunflower Designs paid $4,525 in wages to a temporary employee. On the same date, the company remitted payroll taxes of $905, previously accrued, to the appropriate government entities. j. On September 18, Sunflower Designs received a refund of $22 from their office supply vendor for items that were returned on the September 1 purchase. k. On September 20, a customer paid the balance due for an interior design layout. The invoice for these services was sent to the customer on June 20, 2018. The contract price was $3,940. 1. On September 24, Sunflower Designs sold a side table from inventory for $375. The inventory cost for this item was $150. The customer paid cash for this purchase. m. On September 26, $675 worth of inventory was returned to supplier because of defects. The inventory had been purchased on account in August and had not been paid for. n. On September 30, the customer delivered a check for one-half of the interior design invoice delivered on September 14. 2. CREATE THE SEPTEMBER 31, 2018 UNADJUSTED TRIAL BALANCE 3. CREATE ADJUSTING JOURNAL ENTRIES FOR SEPTEMBER 31, 2018: o. Record the depreciation for the laptop purchased on September 1. p. Record the September 2018 depreciation for all computers & software owned before the September 1 purchase. These items are being depreciated over 5 years using the straight- line method with no salvage value. q. Record the September 2018 depreciation for the furniture & fixtures. These items are being depreciated over 7 years using the straight-line method with no salvage value. r. Record the adjusting entry for September's rent. Sunflower Designs paid $3,600 in advance for 6 months' rent on June 1, 2018. All previous months' adjusting entries were made as required. s. Record the adjusting entry for the consumption of prepaid insurance for the month of September. The preexisting policy has 42 months remaining as of September 1, and recall that the new policy provides coverage for 24-months. The previous months' adjusting entries were made as required. t. Record the amount due to an employee for time worked during September, but not paid. The amount earned by the employee was $3,416. 4. CREATE THE ADJUSTED TRIAL BALANCE. 5. CREATE THE SEPTEMBER 31, 2018 INCOME STATEMENT. 5. CREATE THE SEPTEMBER 31, 2018 INCOME STATEMENT. The amount for each account must be linked from the ending balances in the Trial Balance. All sub-totals and totals must be accurately calculated using Excel formulas. 6. CREATE THE SEPTEMBER 31, 2018 BALANCE SHEET. The amount for each account must be linked from the ending balances in the Trial Balance. All sub-totals and totals must be accurately calculated using Excel formulas. Note: The trial balance may include decimals, but the financial statements should not show decimals. Last edit: 7/18/19 Page 2 of 3 GRADING RUBRIC 1. JOURNAL ENTRIES/ADJUSTING JOURNAL ENTRIES (25%) a. All required journal entry items are present and correctly formatted. b. Journal entries are accurate and balance. 2. TRIAL BALANCE/ADJUSTMENTS/ADJUSTED TRIAL BALANCE (25%) a. All journal entries are properly reflected on the trial balance. b. All closing entries are properly reflected in the adjustments. C. The adjusted trial balance reflects the entries from the trial balance and the adjustments. c11 x fx E F G D Debit 5,000 Credit This example is for Format & content only Date Account 9/1/19 Cash Accounts Receivable To record customer payment on account 5,000 Sept. 1 office supplies expense 250 250 11 b. Sept. 1 2850 2850 C. Sept. 1 D11 X Transactions (from journal Entries a. through n.) Debit Credit September 30, 2019 Unadjusted Trial Balance Debit Credit Adjusting Journal Entries (Entries o. through t.) Debit Credit Adjusted/Ending Trial Balance Debit Credit September 1, 2019 Beginning Balances Debit Credit 81,979.00 8,600.00 5,810.00 3,855.00 3,000.00 3,250.00 975.00 6,750.00 2,250.00 1,925.00 990.00 296.00 6,350.00 00 OHN Acct # Description 1000 Cash 1010 Accounts Receivable 1020 Inventory 1030 Prepaid Insurance 1040 Prepaid Rent 1100 Building 1110 Computers & Software 1115 Accumulated Dep Comp 1120 Furniture & Fixtures 1125 Accumulated Dep F&F 1130 Land 1140 Machinery & Equipment 1150 Accumulated Dep M&E 2000 Accounts Payable 2010 Payroll Tax Payable 2020 Sales Tax Payable 2030 Unearned Revenue 2040 Line of Credit 2050 Notes Payable 2060 Wages Payable 3000 Peters, J., Capital 3010 Peters, M., Capital 3050 Retained Earnings 5000 Designing Revenue 5010 Furnishing Sales 5020 Cost of Goods Sold 6000 Vendor Compensation 6010 Contract Labor Expense 6020 Materials Expense 6030 Supplies Expense 6040 Wages Expense 6050 Depreciation Expense 6060 Insurance Expense 6070 Office Rent Expense 6080 Office Supplies Expense Journal Entries 4,025.00 1,250.00 1,250.00 93,933.00 Trial Balance Income Statement Balance Sheet + 5UUU Desighing Revenue 5010 Furnishing Sales 5020 Cost of Goods Sold 6000 Vendor Compensation 6010 Contract Labor Expense 6020 Materials Expense 6030 Supplies Expense 6040 Wages Expense 6050 Depreciation Expense 6060 Insurance Expense 6070 Office Rent Expense 6080 Office Supplies Expense 6090 Payroll Tax Expense 6100 Postage Expense 6110 Small Tools Expense 113,244.00 113,244.00