PLEASE HELP WITH TRIAL BALANCE, INCOME STATEMENT AND STATEMENT OF RETAINED EARNINGS

The chart of accounts that Mantall Company, the wees is as follows: Assets: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Labilitiex: 201 Accounts payablo 202 Uneamed service revenue 203 Wages payable 210 Interest payplo 220 Notes paychlo Assets: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated deprecintion Liabilities: 201 Accounts payablo 202 Uneamed service revenue 203 Wages payablo 210 Interest paychlo 220 Notes payable ACCT215(CT) Accounting Cycle Problem Tho John Manhall Company, Inc, which provides consulting services to major utility companies, was formed oa Janury 2 of this year. Transactions completed during the firt year of operntion were at follows: Janury 2 - Issued 600,000 shares of stock for $10,300,000. Jantary 10-Acquired equipment in exchange for $2,600,000 cash and a \$5,100,000 note pryable. The noto is due in tea years. Febrary 1 - Paid $12,000 for a business insurance policy covering the two-year period beginning on Fobraing 1. February 22 -Purchased 5900,000 of supplies on account March 1-Paid wages of 5185,600 March 23 - Billed $2,810,000 for services rendered on account April 1-Paid 5120,000 of the amount due on the supplies purchased Fobruary 22. Aprit 17 - Collected 5300,000 of the accounts receivable May 1-Paid wages of 5200,400 . May s-Received and paid hill for $96,000 for utilities. May 24-Paid S41000 for sales commissions. June 1 - Made the firt payment of 250,000 on the note issued January 10. The payment consisted of $50,000 interent and $200,000 applied against the principal of the note. June 16 Billed customers for $520,000 of rervices rendered. Jane 30 - Collected 5310,000 on accounts receivable. Juby 10 - Purchased $150,000 of supplies on aceount. Angut 25 Paid 5155,000 for administrative expenses. September 23 -Paid $31,000 for wrehouse repairs. October 1 - Rild general wages of 591,000 . Novenber 20 - Purchased supplies for $51,000cah. December 15 - Collected $145,000 in advance for services to be provided in December and Januay. December 30 -Declared and paid a 355,000 dividend to shareholders. The chant of accounts that Manhall Company, Inc. uses is as follows: Asects: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Liabilities: 201 Accounts paydblo 202 Uneamed service reveane ma whence nomkle. REQUIRED: Uitlizing the information provided above, complete the following steps in an Excel workbok (Template provided): 1. Joumalize the transactions for the year. 2. Post the journal entries to a T account. 3. Prepare an unadjusted trial balance as of December 31 . 4. Jomalize and post adjusting entries to the T accounts based on the following additional information: 2. Eleven months of the insurance policy expired by the end of the year. b. Depreciation for equipment is $410,000. C. The company provided $92,000 of services related to the advance collection of December 15 . d. There are 5545,000 of supplies on hand at the end of the year. a. An additional $185,000 of interest has accrued on the note by the end of the year: f. Marshall accrued wages of $215,000 at the end of the ear. 5. Preparean adjusted trial balance as of December 31 . 6. Prepare a single-step income statement and statement of retained eamings for the year ended December 31 and a classified balance sheet as of December 31. 7. Joumalize and post the closing entries 8. Prepare a post-closing trial balance as of December 31 . Submit your completed Ercel workbook in Black Board under assignments by the due date. The chart of accounts that Mantall Company, the wees is as follows: Assets: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Labilitiex: 201 Accounts payablo 202 Uneamed service revenue 203 Wages payable 210 Interest payplo 220 Notes paychlo Assets: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated deprecintion Liabilities: 201 Accounts payablo 202 Uneamed service revenue 203 Wages payablo 210 Interest paychlo 220 Notes payable ACCT215(CT) Accounting Cycle Problem Tho John Manhall Company, Inc, which provides consulting services to major utility companies, was formed oa Janury 2 of this year. Transactions completed during the firt year of operntion were at follows: Janury 2 - Issued 600,000 shares of stock for $10,300,000. Jantary 10-Acquired equipment in exchange for $2,600,000 cash and a \$5,100,000 note pryable. The noto is due in tea years. Febrary 1 - Paid $12,000 for a business insurance policy covering the two-year period beginning on Fobraing 1. February 22 -Purchased 5900,000 of supplies on account March 1-Paid wages of 5185,600 March 23 - Billed $2,810,000 for services rendered on account April 1-Paid 5120,000 of the amount due on the supplies purchased Fobruary 22. Aprit 17 - Collected 5300,000 of the accounts receivable May 1-Paid wages of 5200,400 . May s-Received and paid hill for $96,000 for utilities. May 24-Paid S41000 for sales commissions. June 1 - Made the firt payment of 250,000 on the note issued January 10. The payment consisted of $50,000 interent and $200,000 applied against the principal of the note. June 16 Billed customers for $520,000 of rervices rendered. Jane 30 - Collected 5310,000 on accounts receivable. Juby 10 - Purchased $150,000 of supplies on aceount. Angut 25 Paid 5155,000 for administrative expenses. September 23 -Paid $31,000 for wrehouse repairs. October 1 - Rild general wages of 591,000 . Novenber 20 - Purchased supplies for $51,000cah. December 15 - Collected $145,000 in advance for services to be provided in December and Januay. December 30 -Declared and paid a 355,000 dividend to shareholders. The chant of accounts that Manhall Company, Inc. uses is as follows: Asects: 101 Cach 102 Accounts receivablo 103 Supplies 104 Prepaid insurance 110 Equipment 112 Accumulated depreciation Liabilities: 201 Accounts paydblo 202 Uneamed service reveane ma whence nomkle. REQUIRED: Uitlizing the information provided above, complete the following steps in an Excel workbok (Template provided): 1. Joumalize the transactions for the year. 2. Post the journal entries to a T account. 3. Prepare an unadjusted trial balance as of December 31 . 4. Jomalize and post adjusting entries to the T accounts based on the following additional information: 2. Eleven months of the insurance policy expired by the end of the year. b. Depreciation for equipment is $410,000. C. The company provided $92,000 of services related to the advance collection of December 15 . d. There are 5545,000 of supplies on hand at the end of the year. a. An additional $185,000 of interest has accrued on the note by the end of the year: f. Marshall accrued wages of $215,000 at the end of the ear. 5. Preparean adjusted trial balance as of December 31 . 6. Prepare a single-step income statement and statement of retained eamings for the year ended December 31 and a classified balance sheet as of December 31. 7. Joumalize and post the closing entries 8. Prepare a post-closing trial balance as of December 31 . Submit your completed Ercel workbook in Black Board under assignments by the due date