Please help me to fill this out! We ran through our accounting cycles workbook way to fast and I am completely and utterly confused. Please please please help. Due tomorrow, tried working on it and friend told me I did it completely wrong. PLEASE HELP

Best Bicycles Inc. Accounting Cycle Case Instructions The objective of this accounting cycle case is to prepare and post December journal entries to Best Bicycle, Inc.'s general ledger, prepared a trial balance, balance sheet, and income statement as of December 31, 2011. Then you are to prepare and post a closing entry and a post closing trail balance, You will note this excel worksheet has various tabs at the bottom to the page. Each tab represents a separate worksheet. To access each worksheet, click on the desired tab. To start this project, go to the transactions tab and prepare journal entries to record each of these transactions. Rerecord each journal entry on the journal entry tab. Next, post the journal entries to the general ledger located on the general ledger tab. After all entries have been posted to the general ledger, prepare a trail balance on the trial balance tab. Be sure the trial balance is in balance, that the total debits equal the total credits. Do not proceed to the next step until the trial balance balances, Prepare a balance sheet and income statement from the trial balance using the balance sheet and income statement tabs, Remember that you will need to include the net income or loss from your income statement in the retained earnings balance on the balance sheet for it to balance. Next prepare and post closing entries to the general ledger. The final step is to prepare a post closing trail balance. This should be done on the post closing trial balance tab. This trial balance should also be balanced. Once you have done this and see that it balances, you have completed the project. Congratulations. Best Bicycles, Inc. General leger CASH Date 11/30/2013 12/1/2013 Date 11-31-2013 12/1/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Description Beginning balance Paid rent Description Beginning balance Description Beginning balance Description Beginning balance Description Beginning balance Description Beginning balance Description Beginning balance Reference No j1 j1 j1 j1 j1 j1 j1 Transactions Dr Cr ACCOUNTS RECEIVABLE Reference Transactions No Dr Cr PREPAID INSURANCE Reference Transactions No Dr Cr INVENTORY Reference Transactions No Dr Cr EQUIPMENT Reference Transactions No Dr Cr ACCUMULATED DEPR. - EQUIPMENT Reference Transactions No Dr Cr ACCCOUNTS PAYABLLE Reference Transactions No Dr Cr Balance Dr 12,450.00 Cr Balance Dr 1,125.00 Cr Balance Dr 100.00 Cr Balance Dr 24,621.00 Cr Balance Dr 5,000.00 Cr Balance Dr Cr 2,400.00 Balance Dr Cr 5,964.00 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Description ACCRUED SALARIES PAYABLE Reference Transactions No Dr Cr Balance Dr Cr - Description Beginning balance Description Beginning balance Description Beginning balance Description Beginning balance Description Beginning balance Description NOTE PAYABLE Reference Transactions No Dr Cr Dr COMMON STOCK Reference Transactions No Dr Cr Dr ADDITIONAL PAID IN CAPITAL Reference Transactions No Dr Cr Dr RETAINED EARNINGS Reference Transactions No Dr Cr BICYCLE SALES Reference Transactions No Dr Cr COST OF GOODS SOLD Reference Transactions No Dr Cr Balance Cr 10,000.00 Balance Cr 1,000.00 Balance Cr 9,000.00 Balance Dr Cr 12,671.00 Balance Dr Cr 129,700.00 Balance Dr 97,275.00 Cr Date 11/30/2013 1-Dec Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Date 11/30/2013 Description RENT EXPENSE Reference Transactions No Dr Cr 1 1,250.00 Description SALARIES EXPENSE Reference Transactions No Dr Cr Description Interest Expense Reference Transactions No Dr Cr Description INSURANCE EXPENSE Reference Transactions No Dr Cr Description DEPREICATION EXPENSE Reference Transactions No Dr Cr Description DISCOUNTS EARNED Reference Transactions No Dr Cr Balance Dr 16,500.00 17,750.00 Cr Balance Dr 11,000.00 Cr Balance Dr 950.00 Balance Dr 1,100.00 Cr Cr Balance Dr 825.00 Cr Balance Dr 188,696.00 Cr 211.00 170,946.00 - Best Bicycles, Inc. Adjusting Journal Entries Date 1-Dec Entry No Description 1 Rent Expense Cash Dr Cr. 1,250.00 1,250.00 To record payment of December rent 4-Dec 2 Inventory Accounts payable 10,000.00 10,000.00 To record purchase of inventory on credit 5-Dec 3 Cash Common stock Additional paid in capital 5,000.00 500.00 4,500.00 To record proceeds from issuance of 500 shares of common stock. 5-Dec 4 Cash Cost of goods sold Bicycle sales Inventory 3,500.00 2,100.00 3,500.00 2,100.00 To record sale of bicycle for cash and remove the bicycle cost from inventory 5-Dec 5 Accounts payable Prompt payment discount Cash 10,000.00 20.00 9,980.00 To record payment of an account payable within the discount period. 15-Dec 6 Salaries expense Cash 500.00 500.00 Payment of salaries for the first half of December. 16-Dec 7 Cash Accounts Receivable 950.00 950.00 To record collect of $950 from accounts receivable. 18-Dec 20-Dec 8 9 Cash Accounts Receivable Cost of goods sold Bicycle sales Inventory To record sale of bicycle Interest Expense Cash 1,000.00 900.00 1,200.00 1,900.00 1,200.00 50.00 50.00 To record payment of December Interest on note 31-Dec 10 Salaries expense Accrued salaries payable 500.00 500.00 To accrue salaries earned but not paid at December 31 31-Dec 11 Depreciation Expense Accumulated depr- Equipment To record December depreciation expense 75.00 75.00 Best Bicycle, Inc. Trial Balance December 31, 2011 Dr Cash Accounts receivable Prepaid insurance Inventory Equipment Accumulated depr - equipment Accounts payable Note payable Common Stock Additional Paid in capital Retained earnings Bicycle sales Cost of goods sold Rent Expense Salaries Expense Interest Expense Insurance expense Depreciation expense Discounts Earned Cr Best Bicycle, Inc. Trial Balance December 31, 2011 Dr Cash Accounts receivable Prepaid insurance Inventory Equipment Accumulated depr - equipment Accounts payable Note payable Common Stock Additional Paid in capital Retained earnings Bicycle sales Cost of goods sold Rent Expense Salaries Expense Interest Expense Insurance expense Depreciation expense Discounts Earned Cr Best Bicycles, Inc. Balance Sheet 31-Dec-11 Assets Current Assets Cash Accounts Receivable Prepaid Insurance Inventory Total current assets Property and Equipment Equipment Less accumulated depreciation LIABILITIES Current liabilities Accounts payable Note payable Total current liabilities Stockholders' Equity Common stock Additional paid in capital Retained earnings Total stockholders' equity Total Assets Total liabilities and stockholders' equity Best Bicycles, Inc. Income Statement For the Year Ended December 31, 2011 Bicycle Sales Cost of goods sold Gross profit Operating Expenses Rent Salaries Interest Insurance Depreciation expense Total operating expense Net come from operations Other income Discounts earned Net Income Best Bicycles Inc December 2013 Transactions Date 1-Dec Description Paid December rent in the amount of $1,,250 4-Dec Purhased 10bicycles for reale for $10,000 terms 2/10 net 30. Purchase reoded gross, not net of discount 5-Dec Issued 500 additioanl shares of $1 par common stock for $5,000 cash 5-Dec Sold bicyle for $3,500 for cash. Cost of the bibyle was $2,100. Use perpetual inventorty method 5-Dec Paid vendor for the bicyles purchased on December 1 15-Dec Paid wages in the amount of $500 for wages earned in the first two week in December 16-Dec Collected accounts receivable in the amount of $950 18-Dec Sold bicycle for $1,900. Received $100 in cash whith the balance due in 30 days. The cost of this bicycle was $1,200. 20-Dec Paid Decembers interest on note payable in the amount of $50. 31-Dec Wages due on Deceember 31 in the amount of $500 not paid until January 2 of the following year. 31-Dec Recorded December depreciation on equipment in the amount of $75. 31-Dec Took a physical inventory and found the cost of the remaining unsold inventory was $25,821 31-Dec Made a $1,000 principal payment on the note payable