PLEASE, ONLY ANSWER FOR THE T-ACCOUNTS.

Thank you in advance.

ane in the Glass Company (Pane) is a glass manufacturer based out of California. They produce number of glass products including car windows and windshields, windows for houses, Helptul Hints: - The tabs are color-coded based on the task. tained glass windows, and a number of other specialty products. The following information Informational tabs bertains to the fiscal year ending December 31, 2018: Transactions and adjusting entries tabs Closing entries tabs At the beginning of the 2018, the company's 1/1/2018 trial balance was as follows: Financial statement tabs - Your numbers may be off a few dollars relative to the check figures because of rounding. Don't worry about it as long as you Dther assumptions for the year a. Depreciation and amortization are computed using the straight line method. b. Pane uses a perpetual system to track their inventory. c. Pane uses the percentage of receivables method to estimate their bad debt expense d. Pane has a year end of December 31,2018 Other assumptions for the year a. Depreciation and amortization are computed using the straight line method. b. Pane uses a perpetual system to track their inventory. c. Pane uses the percentage of receivables method to estimate their bad debt expense d. Pane has a year end of December 31, 2018 As the accountant for Pane in the Glass company, you have been asked to do the following: 1. Evaluate the following information and transactions listed on the "Transactions" tab and make the necessary joumal entries in the "Journal Entries" tab. You should only use the accounts listed on the "Chart of Accounts" tab in your journal entries. 2. Post the joumal entries into the appropriate t-accounts in the "T-Accounts" tab 3. Prepare the adjusting journal entries in the "Journal Entries" tab 4. Post the adjusting journal entries to the appropriate t-accounts in the "T-Accounts" tab 5. Prepare the income statement using the "Adjusted Trial Balance" tab 6. Prepare your closing journal entries in the "Journal Entries- Closing" tab 7. Post the closing entries into the appropriate accounts on the "T-Accounts- Closing" tab 8. Use the Post Closing trial balance to prepare the Balance Sheet Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Home Insert Draw Page Layout Formulas Data Review Vlew Automate Q Tellme \begin{tabular}{|c|c|l|} \hline & A & \\ \hline 20 & 230 & Dividends Payable \\ \hline 21 & 300 & Common Stock \\ \hline 22 & 310 & Additional Paid in Capital \\ \hline 23 & 340 & Retained Earnings \\ \hline 24 & 400 & Sales Revenue \\ \hline 25 & 405 & Rent Revenue \\ \hline 26 & 410 & Interest Revenue \\ \hline 27 & 415 & Loss on Sale of Equipment \\ \hline 28 & 500 & Cost of Goods Sold \\ \hline 29 & 510 & Depreciation Expense \\ \hline 30 & 518 & Amortization Expense \\ \hline 31 & 520 & Bad Debt Expense \\ \hline 32 & 540 & Salaries \& Wage Expense \\ \hline 33 & 560 & Insurance Expense \\ \hline 34 & 570 & Interest Expense \\ \hline 35 & 599 & Income Tax Expense \\ \hline 36 & 600 & Dividends \\ \hline & & \\ \hline 7 & & \\ \hline \end{tabular} Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Open recovered workbooks? Your recent changes wore saved. Do you want to continue working where you left off? Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entries for adjusting journal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Transaction No. Transaction A January 1: Pane purchases inventory on account to make stained glass windows. The contract has terms of 2/10,n/30. The goods were purchased under the shlpping terms of FOB destination. Inventory Purchased $9,750,000 Shipping cost $5,050 January 3: Pane receives rent for the 2 years from a tenant who rents one of their empty warehouses. Total Rert Paid $63,000 C January 5: Pane pays for the invertory purchased in transaction A. D February 12: Pane purchased a ane year insurance policy on account with coverage beginning on March 1. Insurance Policy $20,000 E March 1: Pane purchases additional inventory on account to make stained glass windows. The goods were purchased under the shipping terms of FOB shipping point. Inventory Purchased $12,325,000 Shipping Cost $9,000 May 31: Pane sells window panes to customers. 5ome customers pald in cash, others purchased their goods on axcount. Pane uses the perpetual method to track their inventory. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entrles for adjusting journal entrles 1-6. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entries for adjusting joumal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Instructions: 1. Prepare the Journal entrles for transactions A-T below and record them on the "Journal Entrles" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare joumal entries for adjusting journal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Transaction No. Transaction Chapter R On December 31, Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $3,000 account receivab 5 On December 31, Pane paid cash dividends of $8,000 to its shareholders. 11 STOP: Post each of the preceding journal entries to the appropriate T-Accounts before preparing the adjusting journal entries. Year-End Adjusting Entries: 1 Recognize the revenue earned from the rent paid in transaction B. 2 Recognize the expiration of the prepaid insurance policy, purchased in transaction 0. 3 Recognize the interest earned on the note receivable issued in transaction K 4 Record the bad debt expense for the year, assuming uses 3% af accounts receivable to estimate their uncollectible accounts. 5 Depreciation Expense for the year is 2,556,000 6 Amortization Expense for the year is 3,000 Post each of the adjusting journal entries to the appropriate T-Accounts-DO NOT prepare closing journal entries yet LDr. Accounts Receivable \begin{tabular}{|l|lr|r|} \hline$20,000,000 & & & (November 15) \\ \hline$6,000,000 & (November15)(November15)(November15) \\ \hline 6,350,000 & $ & 6,350,000 & (November15) \\ \hline \end{tabular} M Dr. Machinery $895,280$895,280 (December 1) \begin{tabular}{ll|l|l} N Dr. Cash \\ Cr. To accounts Recevalble & $43,758,000 & $43,758,000 (December 10) \\ (December 10) \end{tabular} O Dr. Cash Dr. Accumulated Depreciation Dr. Loss on sale cr. Equipment $$$10,00038,0007,000$5,000 P Dr. Income Tax Or. Cash Adjusting Entries Cr. AJE 2 Dr. cr. AUE 3 Dr. Cr. AIE 4 Dr. Cr. AEE 5 Dr. Cr. AIE 6 Dr. Cr. AUE 2 Dr. Cr. AJE 3 Dr. C.r. AIE 4 Dr. Cr. AIE 5 Or. Cr. AUE 6 Or. Cr. Difference Check figures: Total debits should equal total credits. Instructions: The beginning account balances have been filled in for you. Post only the transactions and adjusting entries, not the closing entrles, In this tab. DO NOT delete any cells in this tab. Home Insert Draw Page Layout Formulas Data Review View Automate O Tell me ane in the Glass Company (Pane) is a glass manufacturer based out of California. They produce number of glass products including car windows and windshields, windows for houses, Helptul Hints: - The tabs are color-coded based on the task. tained glass windows, and a number of other specialty products. The following information Informational tabs bertains to the fiscal year ending December 31, 2018: Transactions and adjusting entries tabs Closing entries tabs At the beginning of the 2018, the company's 1/1/2018 trial balance was as follows: Financial statement tabs - Your numbers may be off a few dollars relative to the check figures because of rounding. Don't worry about it as long as you Dther assumptions for the year a. Depreciation and amortization are computed using the straight line method. b. Pane uses a perpetual system to track their inventory. c. Pane uses the percentage of receivables method to estimate their bad debt expense d. Pane has a year end of December 31,2018 Other assumptions for the year a. Depreciation and amortization are computed using the straight line method. b. Pane uses a perpetual system to track their inventory. c. Pane uses the percentage of receivables method to estimate their bad debt expense d. Pane has a year end of December 31, 2018 As the accountant for Pane in the Glass company, you have been asked to do the following: 1. Evaluate the following information and transactions listed on the "Transactions" tab and make the necessary joumal entries in the "Journal Entries" tab. You should only use the accounts listed on the "Chart of Accounts" tab in your journal entries. 2. Post the joumal entries into the appropriate t-accounts in the "T-Accounts" tab 3. Prepare the adjusting journal entries in the "Journal Entries" tab 4. Post the adjusting journal entries to the appropriate t-accounts in the "T-Accounts" tab 5. Prepare the income statement using the "Adjusted Trial Balance" tab 6. Prepare your closing journal entries in the "Journal Entries- Closing" tab 7. Post the closing entries into the appropriate accounts on the "T-Accounts- Closing" tab 8. Use the Post Closing trial balance to prepare the Balance Sheet Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Home Insert Draw Page Layout Formulas Data Review Vlew Automate Q Tellme \begin{tabular}{|c|c|l|} \hline & A & \\ \hline 20 & 230 & Dividends Payable \\ \hline 21 & 300 & Common Stock \\ \hline 22 & 310 & Additional Paid in Capital \\ \hline 23 & 340 & Retained Earnings \\ \hline 24 & 400 & Sales Revenue \\ \hline 25 & 405 & Rent Revenue \\ \hline 26 & 410 & Interest Revenue \\ \hline 27 & 415 & Loss on Sale of Equipment \\ \hline 28 & 500 & Cost of Goods Sold \\ \hline 29 & 510 & Depreciation Expense \\ \hline 30 & 518 & Amortization Expense \\ \hline 31 & 520 & Bad Debt Expense \\ \hline 32 & 540 & Salaries \& Wage Expense \\ \hline 33 & 560 & Insurance Expense \\ \hline 34 & 570 & Interest Expense \\ \hline 35 & 599 & Income Tax Expense \\ \hline 36 & 600 & Dividends \\ \hline & & \\ \hline 7 & & \\ \hline \end{tabular} Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Open recovered workbooks? Your recent changes wore saved. Do you want to continue working where you left off? Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entries for adjusting journal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Transaction No. Transaction A January 1: Pane purchases inventory on account to make stained glass windows. The contract has terms of 2/10,n/30. The goods were purchased under the shlpping terms of FOB destination. Inventory Purchased $9,750,000 Shipping cost $5,050 January 3: Pane receives rent for the 2 years from a tenant who rents one of their empty warehouses. Total Rert Paid $63,000 C January 5: Pane pays for the invertory purchased in transaction A. D February 12: Pane purchased a ane year insurance policy on account with coverage beginning on March 1. Insurance Policy $20,000 E March 1: Pane purchases additional inventory on account to make stained glass windows. The goods were purchased under the shipping terms of FOB shipping point. Inventory Purchased $12,325,000 Shipping Cost $9,000 May 31: Pane sells window panes to customers. 5ome customers pald in cash, others purchased their goods on axcount. Pane uses the perpetual method to track their inventory. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entrles for adjusting journal entrles 1-6. Instructions: 1. Prepare the journal entries for transactions A-T below and record them on the "Journal Entries" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare journal entries for adjusting joumal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Home Insert Draw Page Layout Formulas Data Review View Automate Q Tell me Instructions: 1. Prepare the Journal entrles for transactions A-T below and record them on the "Journal Entrles" tab. 2. Once you have created the journal entries, post them to the "T-Accounts" tab. 3. Prepare joumal entries for adjusting journal entries 1-6. 4. Post the adjusting entries to the correct T-Accounts in the "T-Accounts" tab. Transaction No. Transaction Chapter R On December 31, Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $3,000 account receivab 5 On December 31, Pane paid cash dividends of $8,000 to its shareholders. 11 STOP: Post each of the preceding journal entries to the appropriate T-Accounts before preparing the adjusting journal entries. Year-End Adjusting Entries: 1 Recognize the revenue earned from the rent paid in transaction B. 2 Recognize the expiration of the prepaid insurance policy, purchased in transaction 0. 3 Recognize the interest earned on the note receivable issued in transaction K 4 Record the bad debt expense for the year, assuming uses 3% af accounts receivable to estimate their uncollectible accounts. 5 Depreciation Expense for the year is 2,556,000 6 Amortization Expense for the year is 3,000 Post each of the adjusting journal entries to the appropriate T-Accounts-DO NOT prepare closing journal entries yet LDr. Accounts Receivable \begin{tabular}{|l|lr|r|} \hline$20,000,000 & & & (November 15) \\ \hline$6,000,000 & (November15)(November15)(November15) \\ \hline 6,350,000 & $ & 6,350,000 & (November15) \\ \hline \end{tabular} M Dr. Machinery $895,280$895,280 (December 1) \begin{tabular}{ll|l|l} N Dr. Cash \\ Cr. To accounts Recevalble & $43,758,000 & $43,758,000 (December 10) \\ (December 10) \end{tabular} O Dr. Cash Dr. Accumulated Depreciation Dr. Loss on sale cr. Equipment $$$10,00038,0007,000$5,000 P Dr. Income Tax Or. Cash Adjusting Entries Cr. AJE 2 Dr. cr. AUE 3 Dr. Cr. AIE 4 Dr. Cr. AEE 5 Dr. Cr. AIE 6 Dr. Cr. AUE 2 Dr. Cr. AJE 3 Dr. C.r. AIE 4 Dr. Cr. AIE 5 Or. Cr. AUE 6 Or. Cr. Difference Check figures: Total debits should equal total credits. Instructions: The beginning account balances have been filled in for you. Post only the transactions and adjusting entries, not the closing entrles, In this tab. DO NOT delete any cells in this tab. Home Insert Draw Page Layout Formulas Data Review View Automate O Tell me