Please help! I'm so lost!

Instructions (must follow):

1 In this file, you are provided with the business transactions for Fernandez Corporation's first year of operation.

2 You must complete all the tasks involved in the accounting cycle - by filling out ALL templates in this file.

3 When you are done, save this file under the name "Accounting Cycle Project - Your Name".

4 You must use MS Excel to complete & submit this assignment. Do not change the file type.

5 The chart of accounts for Fernandez Corporation is provided below. Tab Template To-Do

a) JE Journalize the listed transactions. (JE = Journal Entries)

b) Post1 Post the journal entries to the appropriate general ledger accounts.

c) TB Prepare a trial balance as of December 31. (TB = Trial Balance)

d) Adj JE Journalize the adjusting entries based on the following additional information. (Adj TB = Adjusted Trial Balance)

1) The equipment had 20-year life, with no salvage value. Use Double Declining Balance method of depreciation.

2) Supplies on hand at year end amount to $25,000.

3) At year end, pay additional interest is due on the note payable.

4) The insurance policy covered a 12-month period commencing on June 1.

5) At year end, Fernandez had provided $120,000 of unbilled services to customers. These services will be billed in early 20X8.

e) Post2 Post the adjusting entries to the appropriate general ledger accounts.

f) Adj TB Prepare an adjusted trial balance as of December 31.

g) Fin St Prepare an income statement and statement of retained earnings for, and a classified balance sheet at the end of the year.

h) Closing Journalize and post closing entries.

i) Post3 Post the closing entries to the appropriate general ledger accounts.

j) CloseTB Prepare a post-closing trial balance as of December 31.

Fernandez Corporation's Chart of Accounts:

Accounts Payable

Accounts Receivable

Accumulated Depreciation

Capital Stock

Cash

Depreciation Expense

Dividends

Equipment

Fuel Expense

Income Summary I

nsurance Expense

Interest Expense

Interest Payable

Lodging Expense

Notes Payable

Prepaid Insurance

Retained Earnings

Revenue Supplies

Supplies Expense

Unearned Revenue

Wage expense

On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting equipment and provide contract support services to farmers throughout the Midwest. Information about the first year of operation follows:

Jan. 1 Investors provided $2,500,000 of cash in exchange for stock of Fernandez Corporation

Jan. 1 Purchased combines and trucks in exchange for $600,000 cash and a $1,200,000 note payable with 8% interest Feb. 7 Purchased $80,000 of supplies on account that will be needed during the upcoming harvest

Mar. 3 Paid wages of $185,000

Apr. 1 Billed customers for services rendered in the amount of $300,000

Apr. 11 Paid $50,000 toward the purchase of February 7

June 1 Purchased a $48,000 insurance policy, recorded as prepaid insurance

June 6 Collected $200,000 on accounts receivable

June 9 Paid wages of $260,000

June 15 Paid $35,000 for fuel costs

June 20 Paid $25,500 for lodging costs incurred by crew

June 30 Paid interest due plus $100,000 to reduce the balance of the note payable

Aug. 1 Billed customers for services provided in the amount of $850,000

Sept. 3 Collected $700,000 on accounts receivable

Sept. 16 Purchased $75,000 of supplies on account

Sept. 25 Paid $60,500 for fuel costs

Oct. 20 Paid $18,500 for lodging costs incurred by crew

Nov. 3 Paid wages of $125,000

Dec. 15 Collected $150,000 as deposits from customers who contracted for 20X8 harvesting services

Dec. 31 Declared and paid a $35,000 dividend to shareholders