Please help with filling out the ledger. All info is on screenshots.

hampton ACCOUNTING SERVICE INC Dear Newbie Welcome to Hampton! My name is Julio Antoni, your supervisor. We believe the best way for you to get familiar with what you are going to be doing here is to throw you right in, so we are asking you to start working on the books for us right away. For this project you will complete Hampton's entire accounting cycle. You will be required to record entries in a journal, post to a ledger, complete a trial balance, and prepare financial statements. Transactions will include day to day operations, adjusting entries, dividends and closing entries. All of the work will be completed in the provided Excel Workbook (make sure you save the file on to your computer) Company Information Hampton Accounting Service Inc. is a public corporation that has been in business for 1 year. The company is authorized to issue 100,000 shares of common stock at Si par value. The company provides accounting services and sells accounting software. To date the company has issued 20,000 shares of common stock, which are still outstanding The issued shares were sold at $10 per share. A building and furnishings were purchased at the start of the year. The cost of the building was $140,000 and the cost of the furnishings was $30,000. The depreciation will be recorded annually. The estimated useful life of the building is 20 years with a residual value of $10,000. The company uses the Straight line method to depreciate the building. The estimated useful life of the furnishings is 5 years with a residual value of $2,500. The company uses the Double Declining Balance method to depreciate furnishings. The current inventory consists of 30 units of software at a cost of $140.00 each Inventory is costed using LIFO and the perpetual inventory system. The company uses an allowance method to account for uncollectible accounts. It is estimated that 1% of net credit revenue will be uncollectible, adjusted monthly. Employees are paid $2.500 salary twice a month, on the 16" for the first half of the month and on the 2** of the following month for the last half of the month. Ignore income tax calculations. Project Requirements 1. Opening balances The opening balances for select accounts are provided in the appropriate ledger accounts 2. Record the following transactions in the journal and post to the ledger 12/02/20 Purchased 10 Units of Software on Account for $1,300 12/02/20-Paid employees Salaries owed 12/02/20- Provided Accounting Service on Account. 53.200 12/05/20 Purchased Computer Equipment on account, 54,800 Note: The equipment has an estimated useful life of 4 years, residual value of $50 and uses the DOB method. 12/08/20- Purchased Supplies for $800 cash 12/10/20- Received $3,000 payment on account 12/11/20- Sold 15 units of Inventory on Account, $4.500 Note: This transaction requires two journal entries. The first entry should deal with the sale, and the second should deal with the inventory. Know how to use LIFO. (Hint: The company sold 15 units from its inventory 305140+1095130.) 12/11/20-Made payment on Account, 51,000 12/12/20-Purchased 20 units of Inventory on Account $2.400 12/14/20- Received a bill for Advertising and paid it, $250 12/15/20- Provided Accounting service for Cash, 58,000 12/16/20-Paid employees salary for Dec. 1-15 12/17/20- Provided Accounting Service on Account, $5,000 12/19/20- Sold 10 units of Inventory on Account, $3,000 Note: Similar to the sale on 12/11. You should have been keeping track of the cost of the inventory for each purchase and each sale using UFO. 12/22/20- Received $2,500 payment on Account 12/23/20-Made payment on Account. $2.500 12/24/20- Received and paid monthly Utility bills, S850 12/27/20- Received $2,000 cash in advance for accounting services 12/29/20-Provided Accounting Service for Cash, 55.000 12/30/20-issued 1,000 shares of Common Stock at $15 per share 12/31/20-Declared dividends of $1.50 to outstanding shareholders as of 12/31/20. 3. Prepare a trial balance to verify that total debits equal total credits 4. Record the following adjustments in the journal and in the trial balance. DO NOT post the adjusting entries to the ledger, Instead, post them directly as adjustments to the trial balance 12/31/20- Employees salary for Dec 16-31 12/31/20 Depreciation on Building, use SL method (calculate for entire year) 12/31/20 Depreciation on Furnishings, use 0D8 method (calculate for entire year) 12/31/20- Depreciation on Computer Equipment, use Dos method calculate for one month) 12/31/20-Supplies on hand equal $1,625 12/31/20-Inventory count shows 33 units, some damaged units were disposed of during the month 12/31/20-$500 of advance payment was earned in December 12/31/20- Uncollectible Account expense for December know how to a use the Percent of Sales method.) 5. Prepare an Adjusted trial balance to verify debits equal credits at the end of the month 6. Prepare the 3 main financial statements for the year ending December 31, 2020. I hope that's clear. If you have any questions, feel free to contact me. Sincerely, so da Julio Antoni Senior Accountant Hampton Accounting Services Inc. Important notes regarding the Excel file Select "Enable Macros" when you first open the Excel file. Enter your name in the home view to proceed. . Do not cut (Ctr+X) and paste a cell or it will lead to an error message. If you see an error ("#REFM) due to a pasted cell, close the file without saving. If it does not fix the problem, restart the project with a fresh download. Points are awarded only for the correct entries in each line item of Adjusted Trial Balance, Income Statement, Statement of Retained Earnings, and Balance sheet. No points are awarded beforehand. Therefore, it is important for you to complete the project to that point In the balance sheet, you must list the accounts of each section in the same order as the chart of accounts. Do not list the accounts in a random order. B C D 3 NOTE: The table will be shaded blue when you have the correct balance. NOTE: Do not post adjusting entries here. You should post these directly on the "Trial Balance sheet -4 5 6 7 Open Bal 8 100 Cash 339,349.00 $ Open Bal 110 - Accounts Receivable 10,000.00 S 0 1 2 3 Bal $ 339,349.00 Bal $ 10,000.00 AR Chart of Accounts Journal Ledger TrialBalance Income Stmt Stmt of RE Balance Sheet Instructor Interface B D $ 339,349.00 Bal $ 10,000.00 115 - Allowance for Uncollect Acct $ 900.00 120 - Supplies 2,000.00 Open Bal $ $ 900.00 Bal S 2,000.00 20 21 Bal 22 23 24 Open Bal 25 26 27 28 29 Bal 30 31 32 Open Bal 33 34 35 36 37 Bal 38 39 40 Open Bal 130 - Inventory 4,200.00 $ 150 - Building Open Bal $ 140,000.00 $ 4,200.00 Bal $ 140,000.00 151 - Accum Depre Building Open Bal S Income Stmt Stmt of RE 155 - Furnishings 30,000.00 Balance Sheet Instructor interface Chart of Accounts Journal Ledger TrialBalance De - D E F Bal G $ 140,000.00 155 - Furnishings 30,000.00 Open Bal $ $ Bal S 30,000.00 160 - Office Equipment A B 37 Bal $ 4,200.00 38 39 151 - Accum Depre Building 40 Open Bal 41 42 43 44 45 Bal 46 47 156 - Accum Depre Furnishings 48 Open Bal 49 50 51 52 53 Bal $ 54 55 161 - Accum Depre Office Equip 56 Open Bal 57 Chart of Accounts Journal Ledger TrialBalance Open Bal Bal $ 200-A/P $ Open Bal 1,000.00 Income Stmt Stmt of RE Balance Sheet Instructor interface C7 A Bal $ Open Bal 200-A/P $ 1,000.00 A B D 52 53 Bal $ 54 55 161 - Accum Depre Office Equip 56 Open Bal 57 58 59 60 61 62 Bal S 63 64 210. Unearned Ser. Rev. 65 Open Bal 66 67 68 69 70 Bal $ 71 72 220- Dividends Payable Chart of Accounts Journal Ledger TrialBalance Bal $ 1,000.00 Open Bal 215. Salary Payable $ 2,500.00 Bai S 2,500.00 300- Stock, Common Income Stmt Stmt of RE Balance Sheet Instructor Interface Ready $ Bal $ 2,500.00 220-Dividends Payable Open Bal 300- Stock, Common S 20,000.00 S Bal 20,000.00 70 Bal 71 72 73 Open Bal 74 75 76 77 78 Bal 79 80 81 82 Open Bal 83 84 85 86 87 Bal 88 89 305- Additional Paid In Capital $ 433,115.00 310- Retained Earnings $ 40,000.00 Open Bal 433,115.00 Bal $ 40,000.00 400 - Service Revenue 410 - Sales Revenue TrialBalance Chart of Accounts Journal Ledger Income Stmt Stmt of RE Balance Sheet Instructor interface F G H Bal $ 40,000.00 410 - Sales Revenue $ 16,500.00 Open Bal Bal $ 16,500.00 B 36 37 Bal $ 433,115.00 38 39 400 - Service Revenue 0 Open Bal $ 102,500.00 01 2 3 14 -5 Bal S 102,500.00 6 7 500 - Advertising Expense 8 Open Bal S 7,589.00 9 0 1 02 3 Bal s 7,589.00 04 05 520 - Repairs & Maint Expense 06 Open Bal S 10,567.00 Chart of Accounts Journal Ledger 510 - Depreciation Expense Open Bal Bal $ Open Bal $ Income Stint Stmt of RE 530 - Supplies Expense 3,560.00 Balance Sheet Instructor interface TrialBalance D E F F G H Bal 530 - Supplies Expense 3,560.00 Open Bal S Bal S 3,560.00 A B 102 103 Bal $ 7,589.00 104 105 520 - Repairs & Maint Expense 106 Open Bal $ 10,567.00 107 108 109 110 111 Bal $ 10,567.00 112 113 540 - Uncollectible Accts Expense 114 Open Bal $ 900.00 115 116 117 118 119 Bal S 900.00 120 121 560 - Cost of Goods Sold 122 Open Bal $ 7,700.00 Chart of Accounts Journal Ledger 550 - Utilities Expense 5,650.00 Open Bal $ Bal $ 5,650.00 Open Bal $ Income Stmt Stmt of RE 570 - Salary Expense 55,000.00 Balance Sheet Instructor interface TrialBalance Ready B D F G 116 117 118 119 Bal 720 121 122 Open Bal S 900.00 Bal s 5,650.00 560 - Cost of Goods Sold 7,700.00 $ 570 - Salary Expense 55,000.00 Open Bal $ 123 24 125 126 S 7,700.00 Bal $ 55,000.00 127 Bal 128 29 30 31 32 33 34 3S 36 TrialBalance Stmt of RE Chart of Accounts Income Stmt Balance Sheet Journal Ledger Instructor Interface