PLEASE include formulas! I am haing an extra hard time w that

Presented below is the trial balance of First Landing Golf Club as of December 31, 2020. The books are closed annually on December 31. First Landing Golf Club Trial Balance December 31, 2020 Unadjusted Debit Credit Cash 21,300 Accounts Receivable - Members 9,800 Allowance for Doubtful Accounts 243 Rent Receivable Prepaid Insurance 9,000 Shop Supplies 3,600 Land 342,000 Buildings 120,000 Accumulated Depreciation - Buildings 40,000 Equipment 160,000 Accumulated Depreciation - Equipment 80,000 Interest Payable Salaries and Wages Payable Unearned Dues Note Payable 120,000 Common Stock 280,000 Retained Earnings 55,607 Dues Revenue 266,000 Green Fees Revenue 21,300 Rent Revenue 19,800 Bad Debt Expense Depreciation Expense - Buildings Depreciation Expense - Equipment Insurance Expense Interest Expense Salaries and Wages Expense 150,000 Shop Supplies Expense Utilities Expenses 43,250 Maintenance and Repairs Expense 24,000 Income Summary TOTALS 882,950 882,950 C. The following information is available for First Landing Golf Club at December 31. Prepare adjusting journal entries for First Landing Golf Club based on the trial balance and the following information. a. The buildings have an estimated life of 25 years with no salvage value and are depreciated using the straight-line method. b. The equipment is depreciated over ten years using the straight-line method. The expected residual value of the equipment is $0. The prepaid insurance account should have an adjusted balance of $3,500. d. The rent revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received. e. It is estimated that 12% of the accounts receivable will be uncollectible. f. Employees had earned $2,950, by December 31, for which they had not been paid. g Dues received in advance from members, $6,400 were recorded as Dues Revenue. h. The note payable of $120,000 was issued on April 1, 2020, with interest of 5% and is due April 1, 2021. i. Shop supplies remaining at December 31 were $475. Requirements: 1. (5 point) Using Excel, setup a worksheet for First Landing Golf Club with columns for the unadjusted trial balance, adjusting journal entries, adjusted trial balance, closing entries, and post-closing trial balance. (See Figure 1 for an example). Name your file using the following format: first initial_last name_FLGC_ACCT305. 2. (5 points) Transfer unadjusted balances to the worksheet, use formulas to ensure columns balance across worksheet. (see Figure 1 for an example) 3. (18 points) Prepare adjusting journal entries using attached general journal and then post to worksheet. 4. (12 points) Using formulas, complete the adjusted trial balance columns. (See Figures 2 and 3 as a guide for creating formulas. Note that each cell in the debit and credit column should contain a formula, but there should only be one balance per account. 5. (10 point) Prepare closing entries and post to the worksheet. (Net income = $47,442) 6. (10 points) Complete worksheet by preparing post-closing trial balance. Use formulas! (NOTE: Us formula similar to ones created in Req. 4. Debit column IF(B7+D7-C7-E7+H7-17>0,+B7+D7-C7-E7+H7-17, ""), credit column IF(B7+D7-C7-E7+H7-17>0,(+B7+D7-C7-E7+H7-17)*-1, "") 7. Upload Excel worksheet and general journal to Blackboard. Figure 1 Adjusting Debit Credit Closing Debit Credit 1600 Unadjusted Debit Credit 34,300 20,700 2,700 20,000 4,800 2,800 0 6800 26,000 Adjusted Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 Post-Closing Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 5400 1,400 26.000 1,400 26,000 29,000 36,300 7,300 69.000 7,300 74.400 5400 74.400 4800 31400 4,800 31,400 1,600 7,600 1600 4.800 31,400 1,600 7,600 74,400 7600 45,400 29,000 148,800 Totals 116,700 116,700 11.800 11,800 121,500 121,500 148.800 76.100 76,100 Sample formula: =SUM(B3:B33) Figure 2 Adjusting Debit Credit Closing Debit Credit Adjusted Debit Credit 34,300 20,700 1,100 20 000 9,600 2,800 Unadjusted Debit Credit 34,300 20,700 2,700 20,000 4,800 2,800 0 6800 26,000 Post-Closing Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 1600 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 5400 1,400 26,000 1,400 26,000 29,000 7,300 69,000 7,300 74.400 36,300 5400 74,400 4800 31400 4,800 31,400 1,600 7,600 4,800 31,400 1,500 7,600 1600 7600 Home inert Page Layout Page Layout for X Totals 116,700 116,700 11,800 11. =IF(+C3+E3-D3-F3>0,+C3+E3-D3-F3,"") D 1 Closing Entries Debit Cred 1 2 3 4 5 6 FCE8-03 F30-F31 H Adjusting Entries Adjusted Trial Balance Debit Credit Debit Credit 2 F3,"") 3 2 3 Trial Balance Debit Credit 1 4 4 Figure 3 Unadjusted Debit Credit 34,300 20,700 Adjusting Debit Credit Closing Debit Credit Adjusted Debit Credit 34,300 20,700 1,100 20,000 2,600 2,800 Post-Closing - Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 2,700 1600 20,000 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 4,800 2,800 0 6800 26,000 5400 400 26,000 1,400 26,000 29,000 36,300 7,300 ,300 69,000 5400 74,400 AutoSave Home Insert Page Layout Formulas Data Review View Help 74,400 Part 2 Trilhance for 31400 Acrobat LO X I py =IF(C3+E3-D3-F30,+B7+D7-C7-E7+H7-17, ""), credit column IF(B7+D7-C7-E7+H7-17>0,(+B7+D7-C7-E7+H7-17)*-1, "") 7. Upload Excel worksheet and general journal to Blackboard. Figure 1 Adjusting Debit Credit Closing Debit Credit 1600 Unadjusted Debit Credit 34,300 20,700 2,700 20,000 4,800 2,800 0 6800 26,000 Adjusted Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 Post-Closing Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 5400 1,400 26.000 1,400 26,000 29,000 36,300 7,300 69.000 7,300 74.400 5400 74.400 4800 31400 4,800 31,400 1,600 7,600 1600 4.800 31,400 1,600 7,600 74,400 7600 45,400 29,000 148,800 Totals 116,700 116,700 11.800 11,800 121,500 121,500 148.800 76.100 76,100 Sample formula: =SUM(B3:B33) Figure 2 Adjusting Debit Credit Closing Debit Credit Adjusted Debit Credit 34,300 20,700 1,100 20 000 9,600 2,800 Unadjusted Debit Credit 34,300 20,700 2,700 20,000 4,800 2,800 0 6800 26,000 Post-Closing Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 1600 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 5400 1,400 26,000 1,400 26,000 29,000 7,300 69,000 7,300 74.400 36,300 5400 74,400 4800 31400 4,800 31,400 1,600 7,600 4,800 31,400 1,500 7,600 1600 7600 Home inert Page Layout Page Layout for X Totals 116,700 116,700 11,800 11. =IF(+C3+E3-D3-F3>0,+C3+E3-D3-F3,"") D 1 Closing Entries Debit Cred 1 2 3 4 5 6 FCE8-03 F30-F31 H Adjusting Entries Adjusted Trial Balance Debit Credit Debit Credit 2 F3,"") 3 2 3 Trial Balance Debit Credit 1 4 4 Figure 3 Unadjusted Debit Credit 34,300 20,700 Adjusting Debit Credit Closing Debit Credit Adjusted Debit Credit 34,300 20,700 1,100 20,000 2,600 2,800 Post-Closing - Debit Credit 34,300 20,700 1,100 20,000 9,600 2,800 2,700 1600 20,000 4800 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock (Dividends) Retained Earnings Plumbing Services Depreciation Expense Salaries Expense Supplies Expense Utilities Expense Income Summary 4,800 2,800 0 6800 26,000 5400 400 26,000 1,400 26,000 29,000 36,300 7,300 ,300 69,000 5400 74,400 AutoSave Home Insert Page Layout Formulas Data Review View Help 74,400 Part 2 Trilhance for 31400 Acrobat LO X I py =IF(C3+E3-D3-F3