please help me

Completing the Accounting Cycle for a Merchandising Entity (10%) Instructions: Heritage Furniture Limited has a March 31, 2018 year-end. The business reports the following information in its trial balance for the year up to February 28, 2018: HERITAGE FURNITURE LIMITED Trial Balance 28-Feb-18 Credit Debit 65,000 350,000 2,750,000 7,500 5,000 145,000 29,000 1,550,000 35,000 450,000 750,500 50,000 Cash Accounts receivable Inventory Supplies Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned revenue Bank loan Owners capital Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Advertising expense Freight out Interest expense Supplies expense Rent expense Salaries expense Travel expense Utilities expense Income tax expense 5,479,400 107,000 65,000 3,843,900 75,000 180,000 26,000 55,000 360,000 12,500 20,000 27,000 150,000 8.293.900 $8.293.900 UUUU PIUTELLTelllaye IUILUIL.pul ACCT 102 Fall 2018 Final Assignment V1 Due Date: 1:00 pm Tuesday, Dec. 4/18 The company uses a perpetual inventory system. Transactions that occurred during the month of March: Mar. Received $125,000 on account from a major customer. Paid a supplier an amount owing of $200.000, taking the full discount, terms 2/10, n/30 Purchased inventory from a supplier, $300,000, terms 2/10, n/30, FOB destination. Recorded cash sales, $285,000. The cost of the goods sold for these sales was $200,000. Returned scratched inventory to the supplier from the March 5 purchase, $25,000. The appropriate company paid freight for the March 5 purchase, $7,500. Sold $200,000 of inventory on account, terms 2/10, n/30, FOB destination. The cost of goods sold was $140,000. The appropriate company paid freight for the March 9 sale, $5,000. Ordered custom inventory for a local designer totaling $50,000. Received $12,500 as a deposit Accepted returned inventory from the sale on March 9, $20,000. The cost of the goods returned to inventory was $14,000. Paid for the inventory purchased on March 5, net of inventory returns on March 7. Paid salaries of $45,000 Received payment of inventory sold on March 9, net of inventory returned on March 13. Recorded cash sales, $225,000. The cost of goods sold for these sales was $179,000. Paid salaries of $50,000. Paid rent, $5,000. 20 30 Adjusting journal entries required as at March 31, 2018: a) Accrued utilities, $10,000 b) Accrued salaries, $10,000 c) Accrued interest on bank loan, $9,000 d) Recorded depreciation on equipment, which has an expected useful life of 10 years. The company uses the straight-line amortization method. e) Prepaid rent expired, $550 f) Supplies on hand, $5,000 g) Accrued interest revenue, $2,000 h) Returned the deposit to the local designer that was received on March 12. Requirements: 1) Prepare T accounts and enter opening balances 2) Record and post the March transactions for Heritage Furniture's Books 3) Prepare an unadjusted trial balance as at March 31, 2018 4) Record and post adjusting journal entries for the year ended March 31, 2018, assuming adjusting entries are made annually. 5) Prepare an adjusted trial balance as at March 31, 2018. Completing the Accounting Cycle for a Merchandising Entity (10%) Instructions: Heritage Furniture Limited has a March 31, 2018 year-end. The business reports the following information in its trial balance for the year up to February 28, 2018: HERITAGE FURNITURE LIMITED Trial Balance 28-Feb-18 Credit Debit 65,000 350,000 2,750,000 7,500 5,000 145,000 29,000 1,550,000 35,000 450,000 750,500 50,000 Cash Accounts receivable Inventory Supplies Prepaid rent Equipment Accumulated depreciation equipment Accounts payable Unearned revenue Bank loan Owners capital Withdrawals Sales Sales returns and allowances Sales discounts Cost of goods sold Advertising expense Freight out Interest expense Supplies expense Rent expense Salaries expense Travel expense Utilities expense Income tax expense 5,479,400 107,000 65,000 3,843,900 75,000 180,000 26,000 55,000 360,000 12,500 20,000 27,000 150,000 8.293.900 $8.293.900 UUUU PIUTELLTelllaye IUILUIL.pul ACCT 102 Fall 2018 Final Assignment V1 Due Date: 1:00 pm Tuesday, Dec. 4/18 The company uses a perpetual inventory system. Transactions that occurred during the month of March: Mar. Received $125,000 on account from a major customer. Paid a supplier an amount owing of $200.000, taking the full discount, terms 2/10, n/30 Purchased inventory from a supplier, $300,000, terms 2/10, n/30, FOB destination. Recorded cash sales, $285,000. The cost of the goods sold for these sales was $200,000. Returned scratched inventory to the supplier from the March 5 purchase, $25,000. The appropriate company paid freight for the March 5 purchase, $7,500. Sold $200,000 of inventory on account, terms 2/10, n/30, FOB destination. The cost of goods sold was $140,000. The appropriate company paid freight for the March 9 sale, $5,000. Ordered custom inventory for a local designer totaling $50,000. Received $12,500 as a deposit Accepted returned inventory from the sale on March 9, $20,000. The cost of the goods returned to inventory was $14,000. Paid for the inventory purchased on March 5, net of inventory returns on March 7. Paid salaries of $45,000 Received payment of inventory sold on March 9, net of inventory returned on March 13. Recorded cash sales, $225,000. The cost of goods sold for these sales was $179,000. Paid salaries of $50,000. Paid rent, $5,000. 20 30 Adjusting journal entries required as at March 31, 2018: a) Accrued utilities, $10,000 b) Accrued salaries, $10,000 c) Accrued interest on bank loan, $9,000 d) Recorded depreciation on equipment, which has an expected useful life of 10 years. The company uses the straight-line amortization method. e) Prepaid rent expired, $550 f) Supplies on hand, $5,000 g) Accrued interest revenue, $2,000 h) Returned the deposit to the local designer that was received on March 12. Requirements: 1) Prepare T accounts and enter opening balances 2) Record and post the March transactions for Heritage Furniture's Books 3) Prepare an unadjusted trial balance as at March 31, 2018 4) Record and post adjusting journal entries for the year ended March 31, 2018, assuming adjusting entries are made annually. 5) Prepare an adjusted trial balance as at March 31, 2018