PART 1 Use the MAR 1 BTB (BEGINNING TRIAL BALANCE) to fill in the 1-Mar BB for each GENERAL LEDGER account. PART 2 Prepare GENERAL JOURNAL ENTRIES (GJEs) for the MARCH TRANSACTIONS below. Use the accompanying Excel spreadsheet labeled General Journal. MARCH TRANSACTIONS Mar 2: Received contributions of $20,000 cash from each of the two owners and issued 1,000 shares of common stock ( $1 par value) to each owner. Mar 7: Signed a two-year promissory note to the bank and received a cash loan of $15,000. Both principle and interest are due at the end of two years. Mar 12: Purchased $700 in miscellaneous supplies on account. Payment is due in 30 days. Mar 19: Expert Consulting, Inc, billed a client $4,000 for services rendered to install a new computer system. The client agreed to pay 25% of the bill upon its receipt. The remaining balance is due in 30 days. Mar 20: Paid $1,300 to a local newspaper for advertising. The advertisements were already printed earlier in March. Mar 22: Received 25% of the amount billed to the client on March 19. Mar 26: Received cash of $2,800 for consulting services already rendered to a client. Mar 29: Paid $8,000 cash to purchase a computer system for internal use in the consulting business. Mar 30: Paid employees $3,300 of salaries and wages for work performed in March. Mar 31: Paid gas, electric and water bills totaling $1,400. The utilities were consumed during March. PART 3 Post the March GENERAL JOURNAL ENTRIES (GJEs) to the GENERAL LEDGER accounts. Use the accompanying Excel spreadsheet labeled General Ledger. PART 3 Post the March GENERAL JOURNAL ENTRIES (GJEs) to the GENERAL LEDGER accounts. Use the accompanying Excel spreadsheet labeled General Ledger. PART 4 Calculate the UNADJUSTED BALANCE (UAB) for each GENERAL LEDGER account. PAR' 5 Prepare an ADJUSTED TRIAL BALANCE (ATB) for March 31. Use the accompanying Excel spreadsheet labeled Trial Balances. PART 6 Use the information below to prepare the March 31 ADJUSTING JOURNAL ENTRIES (AJEs). A]E 1 March DEPRECIATION EXPENSE for the computer system is $222. AJE 2 SUPPLIES EXPENSE for March is $61. AJE 3 INTEREST EXPENSE for March is $97. AJE 4 INCOME TAX EXPENSE is 30% of the PRE-TAX INCOME amount. No Dividends were declared or paid during March. PART 7 Post the ADJUSTING JOURNAL ENTRIES (AJEs) to the GENERAL LEDGER accounts. PART 8 Calculate the ADJUSTED BALANCE (AB) for each GENERAL LEDGER account. PART 9 Prepare an ADJUSTED TRIAL BALANCE FOR March 31. PART 10 Use the ADJUSTED BALANCES to prepare a multi-step INCOME STATEMENT for the month ending March 31, 20XX. EXPERT CONSULTING SERVICES, INC. INCOME STATEMENT FOR MONTH ENDING MARCH 31, 20XX PART 11 Prepare CLOSING JOURNAL ENTRIES (CJEs) for the month ending March 31, 20XX. PART 12 Post the CLOSING JOURNAL ENTRIES (CJE) to the GENERAL. LEDGER accounts. PART 13 Calculate the POST CLOSING BALANCE (PCB) for each GENERAL IEDGER account. PART 14 Prepare a POST CLOSING TRIAL. BALANCE (PCTB) for March 31. PART 15 Prepare a STATEMENT OF RETAINED EARNINGS for the month ending March 31, 20XX. Note that March is the first month of OPERATIONS and DIVIDENDS were not paid during March. EXPERT CONSULTING SERVICES, INC. STATEMENT OF RETAINED EARNINGS FOR MONTH ENDING MARCH 31, 20XX PART 16 Prepare a STATEMENT OF CASH FLOWS using the direct method. EXPERT CONSULTING SERVICES, INC. STATEMENT OF CASH FLOWS FOR MONTH ENDING MARCH 31, 20XX PART 17 Prepare Olassified BALANCE SHEET for March 31, 20XX. EXPERT CONSULTING SERVICES, INC. BALANCE SHEET MARCH 31,20XX@23:59:59 PART 1 Use the MAR 1 BTB (BEGINNING TRIAL BALANCE) to fill in the 1-Mar BB for each GENERAL LEDGER account. PART 2 Prepare GENERAL JOURNAL ENTRIES (GJEs) for the MARCH TRANSACTIONS below. Use the accompanying Excel spreadsheet labeled General Journal. MARCH TRANSACTIONS Mar 2: Received contributions of $20,000 cash from each of the two owners and issued 1,000 shares of common stock ( $1 par value) to each owner. Mar 7: Signed a two-year promissory note to the bank and received a cash loan of $15,000. Both principle and interest are due at the end of two years. Mar 12: Purchased $700 in miscellaneous supplies on account. Payment is due in 30 days. Mar 19: Expert Consulting, Inc, billed a client $4,000 for services rendered to install a new computer system. The client agreed to pay 25% of the bill upon its receipt. The remaining balance is due in 30 days. Mar 20: Paid $1,300 to a local newspaper for advertising. The advertisements were already printed earlier in March. Mar 22: Received 25% of the amount billed to the client on March 19. Mar 26: Received cash of $2,800 for consulting services already rendered to a client. Mar 29: Paid $8,000 cash to purchase a computer system for internal use in the consulting business. Mar 30: Paid employees $3,300 of salaries and wages for work performed in March. Mar 31: Paid gas, electric and water bills totaling $1,400. The utilities were consumed during March. PART 3 Post the March GENERAL JOURNAL ENTRIES (GJEs) to the GENERAL LEDGER accounts. Use the accompanying Excel spreadsheet labeled General Ledger. PART 3 Post the March GENERAL JOURNAL ENTRIES (GJEs) to the GENERAL LEDGER accounts. Use the accompanying Excel spreadsheet labeled General Ledger. PART 4 Calculate the UNADJUSTED BALANCE (UAB) for each GENERAL LEDGER account. PAR' 5 Prepare an ADJUSTED TRIAL BALANCE (ATB) for March 31. Use the accompanying Excel spreadsheet labeled Trial Balances. PART 6 Use the information below to prepare the March 31 ADJUSTING JOURNAL ENTRIES (AJEs). A]E 1 March DEPRECIATION EXPENSE for the computer system is $222. AJE 2 SUPPLIES EXPENSE for March is $61. AJE 3 INTEREST EXPENSE for March is $97. AJE 4 INCOME TAX EXPENSE is 30% of the PRE-TAX INCOME amount. No Dividends were declared or paid during March. PART 7 Post the ADJUSTING JOURNAL ENTRIES (AJEs) to the GENERAL LEDGER accounts. PART 8 Calculate the ADJUSTED BALANCE (AB) for each GENERAL LEDGER account. PART 9 Prepare an ADJUSTED TRIAL BALANCE FOR March 31. PART 10 Use the ADJUSTED BALANCES to prepare a multi-step INCOME STATEMENT for the month ending March 31, 20XX. EXPERT CONSULTING SERVICES, INC. INCOME STATEMENT FOR MONTH ENDING MARCH 31, 20XX PART 11 Prepare CLOSING JOURNAL ENTRIES (CJEs) for the month ending March 31, 20XX. PART 12 Post the CLOSING JOURNAL ENTRIES (CJE) to the GENERAL. LEDGER accounts. PART 13 Calculate the POST CLOSING BALANCE (PCB) for each GENERAL IEDGER account. PART 14 Prepare a POST CLOSING TRIAL. BALANCE (PCTB) for March 31. PART 15 Prepare a STATEMENT OF RETAINED EARNINGS for the month ending March 31, 20XX. Note that March is the first month of OPERATIONS and DIVIDENDS were not paid during March. EXPERT CONSULTING SERVICES, INC. STATEMENT OF RETAINED EARNINGS FOR MONTH ENDING MARCH 31, 20XX PART 16 Prepare a STATEMENT OF CASH FLOWS using the direct method. EXPERT CONSULTING SERVICES, INC. STATEMENT OF CASH FLOWS FOR MONTH ENDING MARCH 31, 20XX PART 17 Prepare Olassified BALANCE SHEET for March 31, 20XX. EXPERT CONSULTING SERVICES, INC. BALANCE SHEET MARCH 31,20XX@23:59:59