please answer all of it. last time they didnt and i got more confused.
Directions 1 Use this Excel template file (see tabs) to complete the required accounting activities and rename it to begin with your last name (i.e. Doe_Jane ACC120). Note: The Unadjusied Trial Balance and the Adjusted Trial Balance have been completed for you. 2 Journalize the routine.transactions described on the Journal Tab. You do not need to complete the PR section for this assignment. Use the Account Names shown on the ATB '3 Use the Unadjusted Trial Balance and adjusting information provided (See Journal tab) to journalize the 7 adjusting entries (a-g.) '4 Use the Adjusted Trial Balance provided to prepare an Income Statement (Multi-Step) appropriate to a merchandising business, a Statement of Owner's Equity, and a report form Balance Sheet. These should be completed on the Financial Statements tab. Notes/Tips: There were no investments by owner during the reporting period. This company prepares an Adjusted Trial Balance and Financial Statements at the end o. each month. All adjustments are for the last 30 days. (Effective date Dec 31) 2 Journalize the routine iransactions described on the Journal Tab. You do not need to complete the PR section for this assignment. Use the Account Names shown on the ATB 3 Use the Unadjusted Trial Balance and adjusting information provided (See Journal tab) to journalize the 7 adjusting entries (a-g.) 4 Use the Adjusted Trial Balance provided to prepare an Income Statement (Multi-Step) appropriate to a merchandising business, a Statement of Owner's Equity, and a report form Balance Sheet. These should be completed on the Financial Statements tab. Notes/Tips: There were no investments by owner during the reporting period. This company prepares an Adjusted Trial Balance and Financial Statements at the enc each month. All adjustments are for the last 30 days. (Effective date Dec 31) Print the Adjusted Trial Balance to help complete the Financial Statements. Print the Unadjusted Trial Balance to help complete the Journal During the last month of the year, the follovinf transactions were completed: Dee 1 Paid rent for December, $8,099. Dee 3 Purchased merchandise from Goat Coerpany for $7,000 under terms sit5, ni39. FOE Shipping Point Dec 4 Pald $400 cash for freight charges on purchase of Dee 3 . Deo 5 Sold merchandise to Beaver company for $21,100 under credit terms 310, ni6, FOB shipping Point. The merchandise had a cost of $8,800. Dec 6 Purchased merchandise from Duck Company for $27,300, under terms Alecet (net I net end of moeth). Dee 8 Recelved $23.000 en account from Warthog Cempany, no discount. This sale was made in November. Dee 9 Atter negotiations with Goat Company concerning problems with the merchandise purehased on Dec 3, ABC Company received a eredit nredit ma eharandum fonet fanat foemesue nrantinn sn allinwance of st pha Dee 9 After negotiations with Goat Company concemning problems with the merchandise purchased on Dec 3, ABC Company recelved a eredit credit memorandum from Goat Company granting an allowance of \$1,000 Dee 10 Paid part time sales clerk $3,000 which included $2,000 of Sale 5 alaries Payabie on December 1st. (Hint: This entry will require three lines.) Dec 11 Sold merchandise on account to Cow company, terms 210, n60. FOB destination, $22,000. The merchandise had a cost of $10,000. Dec 12 Paid $350 cash for shipping charges related to the Dee 11 sale to Cow Company. Dee 13 Paid the amount due to Goat Company for the Dec J purehase less the allowance granted on Des 9. Dee 15 Received balance due from Beaver Company for merchandise sold ce Dec 5 Dee 16 Cow company returned merehandise from the Dec 11 sale that had cost. ADC Company $1,000 and been sold for $5,600. The merchandise was restored to inventory. Dec 21 Received amount due from Cow company for the Dec 11 sale less the sale return on Dec 16. Dee 23 Paid advertising expense for ads running the last weok of December, $800. Dee 24 Paid part-time sales cierk for two weeks' salary, $3,000. Dee 27 Purchased office supplies on account, $500. Dee 11 Paid Duck Company amount due from the Dec 6 purehase At the end of December, the following adjustment data were assembled. a. Afer a physical cosint of inventory. it was deterined that $12,200 of inventory exists at Desember 31. b 1% of sales is expected to be refunded. c) Estimated Cost of Merchandise that will be returned in the next year is 56,500 d. Insurance Expired during the year, $2,200. - Office supplies on hand at Dee 31, \$1,2s0. f. Depreciation tor December is $1,400. a. After a physical count of inventory, it was determined that $127,200 of inventory exists at December 31 . b 1% of sales is expected to be refunded. c. Estimated Cost of Merchandise that will be returned in the next year is $5,500 d insurance Expired during the year, $2.200. - Office supplies on hand at Dec 31,$1.250. 1 Depreciation for December is $1,400. 0. Sales clerk earned $1,600 of unpaid and unrecorded salary as of Dec 31 . ABC Company Unadjusted Trial Balance December 31,20xx \begin{tabular}{|l|r|r|} \cline { 2 - 3 } \multicolumn{1}{|l|}{ Cash } & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c|}{ Credit } \\ \hline Petty Cash & 60,678 & \\ \hline Notes Receivable & 1,000 & \\ \hline Accounts Receivable & 30,000 & \\ \hline Merchandise Inventory & 51,830 & \\ \hline Estimated Returns Inventory & 129,840 & \\ \hline Prepaid Insurance & 1,000 & \\ \hline Office Supplies & 8,740 & \\ \hline Delivery Equipment & 1,750 & \\ \hline Accumulated Depreciation-Delivery Equipment & 60,150 & \\ \hline Accounts Payable & & 22,950 \\ \hline Salaries Payable & & 64,600 \\ \hline Customer Refunds Payable & & \\ \hline R.W. Miller, Capital & & 193,870 \\ \hline R.W. Miller, Drawing & & 1,058,938 \\ \hline Sales & & 1,650 \\ \hline Interest Revenue & & \\ \hline Cost of Merchandise Sold & & \\ \hline \end{tabular} \begin{tabular}{l|l|l|l|l} Directions & Journal Unadjusted Trial Balance Adjusted Trial Balance & Financial \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ B } & \multicolumn{1}{c|}{C} & D \\ \hline Salaries Payable & & 0 \\ \hline Customer Refunds Payable & & 3,610 \\ \hline R.W. Miller, Capital & & 193,870 \\ \hline R.W. Miller, Drawing & 30,000 & \\ \hline Sales & & 1,058,938 \\ \hline Interest Revenue & & 1,650 \\ \hline Cost of Merchandise Sold & 657,870 & \\ \hline Sales Salaries Expense & 92,330 & \\ \hline Rent Expense & 63,000 & \\ \hline Delivery Expense & 39,110 & \\ \hline Deprecation Expense-Delivery Equipment & 7,630 & \\ \hline Advertising Expense & 12,830 & \\ \hline Miscellaneous Selling Expense & 5,090 & \\ \hline Office Salaries Expense & 52,300 & \\ \hline Insurance Expense & 15,280 & \\ \hline Office Supplies Expense & 8,700 & \\ \hline Miscellaneous Administrative Expense & 14,490 & \\ \hline Interest Expense & 2,000 & \\ \hline & 1,345,618 & 1,345,618 \\ \hline \end{tabular} xfx C \begin{tabular}{l|l|l} D & E & F \\ \hline \end{tabular} ABC Company Adjusted Trial Balance December 31,20xx \begin{tabular}{l|l|r|r|} \hline \multicolumn{1}{|c|}{ A. } & \multicolumn{1}{c|}{C} & \multicolumn{1}{c|}{ E } \\ \hline & R.W. Milier, Drawing & 30,000 & \\ \hline & Sales & & 1,048,349 \\ \hline & Interest Revenue & & 1,650 \\ \hline & Cost of Merchandise Sold & 655,010 & \\ \hline & Sales Salaries Expense & 93,830 & \\ \hline & Rent Expense & 63,000 & \\ \hline & Delivery Expense & 39,110 & \\ \hline & Deprecation Expense-Delivery Equipment & 9,030 & \\ \hline & Advertising Expense & 12,830 & \\ \hline & Miscellaneous Selling Expense & 5,090 & \\ \hline# & Office Salaries Expense & 52,300 & \\ \hline# & Insurance Expense & 17,480 & \\ \hline# & Office Supplies Expense & 9,200 & \\ \hline# & Miscellaneous Administrative Expense & 14,490 & \\ \hline & Interest Expense & 2,000 & \\ \hline & Total & 1,348,518 & 1,348,518 \\ \cline { 3 - 5 } & & & \\ \hline \end{tabular} * ABC Company considers these items "Selling Expenses." \# ABC Company considers these items "Administrative Expenses." Note: see Chapter 6 (Exhibits 11,12,14) for proper formatting of Financial Statements bo Not mobiny foematitiog ( Mult-step income statemeat asd Aeport form Hialasce sheede Tips: Assets = Liabilities + Owners Equity All Account balances wilf be rellected on the Financial Statements Ensure you reported the correct balances from the Acjusted Thal Balance All Financiar statements require a date. ABC Company Statement of Owner's Equily
