Part 2: Using the following journal entries, create a Super T- Account, Trial Balance, Multi-Step Statement of Income, Statement of Changes in Equity, and Statement of Financial Position for the companys bank to review using Excel.

Mar. 1 JE1 Cash $ 12,000 Common Shares $ 12,000 Issued 120 common shares to Azami Ito for cash Mar. 1 JE2 Cash 40,000 Bank Loan (or Loan Payable] 40,000 Bank loan at 5% - due May 1 2023 Mar. 1 JE3 Computer 4,320 Accounts Payable 4,320 Puchased computer on credit with 3 year life, no residual Mar. 1 JE4 Prepaid Rent (or Prepaid Expense/Asset] 6,400 Cash 6,400 Paid for Mar to Jun office rent - $6,400/4 Months = $1,600/month Mar. 3 JES Supplies 5,800 Cash 5,800 Purchased supplies for cash Mar. 5 JE6 Marketing (or similar] Expense 1,620 Cash 1,620 Paid for brochures for marketing Date & JE# Account Debit Credit Mar. 8 No entry required - not a transaction Mar. 11 JE7 Cash $ 3,100 Service Revenue (or similar] $ 3,100 Record revenue from Client #1 - job complete 6,000 Mar. 12 JE8 Trademark [or Intangible] Cash 6,000 Purchased trademark asset (if Intangible is used as account, need to specify trademark in the narrative/description) Mar. 15 No entry required - not a transaction Mar. 19 No entry required - not a transaction Mar. 22 JE9 Cash 6,800 6,800 Deferred Revenue (or Unearned Revenue To record deposit received from Client #3 for feasibility study 13,000 Mar. 23 JE10 Accounts Receivable Service Revenue [title should match JE7] 13,000 To record completed work for Client #2 on account Page 2 Date & JE# Account Debit Credit Mar. 26 JE11 Salary (or Wage, Payroll] Expense 960 Cash $ 960 Record wages paid to Admin Assist. ($1,600/10 x 6 days) Mar. 31 JE12 Dividend Declared (or Retained Earnings] 5,000 Cash 5,000 To record dividend paid to Azami Ito Salary exp Adjusting Journal Entries (needs to be some indication of new section) Mar. 31 AE1 Salary Expenses (title should match JE11) 320 [Accrued] Salary Payable To record unpaid wages (2/10 X $1,600 = $320) 320 Mar. 31 AE2 [Allowable] Business Expense (Travel/Gas, etc. 185 185 [Accrued] Accounts Payable To record amount owed to Azami for gas used for business travel in March Mar. 31 AE3 Deferred Revenue [title should match JE 9) 6,800 Accounts Receivable 1,400 Service Revenue [title should match JE 10) To record revenue earned from Client #3 8,200 1 mark - ID client Page 3 Date & JE # Account Debit Credit Mar. 31 AE4 Supplies Expense (needs to say Exp] $ 3,230 Supplies [title should match JE5] To record supplies used in March ($5,800 -2 570 = 3,230 used) $ 3,230 167 Mar. 31 AES Interest Expense [Accrued] Interest Payable (not bank loan] 167 To record March interest exp ($40,000 x .05/12) 1 mark - needs calc Mar. 31 AE6 Depreciation Expense 120 Accumulated Depreciation - Computer (must say comput 120 To record depreciation ($4,320/36 months = $120/month) 1 mark - needs calc Mar. 31 AE7 Rent Expense 1,600 1,600 Prepaid Rent [title should match JE4) To record rent expense for month of March (6,400/4 months = $1,600/month) Mar. 31 AE8 Income Tax Expense 1,932 Income Tax Payable 1,932 To record (estimated] tax expense for 2022 $16,098 X 12%) Page 4