Please solve tasks 1, 2, & 3 written on sheet 1 (tab 1) at the bottom. There are three 3 sheets and all must be done. I've done #1 but need confirmation if done correctly and i'm definitely stuck on 2 & 3. The highlighted part is what needed to be solved. Thank you!

Deferred Revenue & Expense Schedule Sales Month Jan-13 Jan-13 Jan-13 Jan-13 Account Name Website Set-up Fees Social Set-up Fees Maps Set-up Fees Other Revenue Account Type Sales Amount Revenue $ 190,425.00 Revenue $ 23,531.00 Revenue $ 37,802.00 Revenue $ 6,672.00 Deferral Term 39 1 12 39 Jan-13 4,882.69 23,531.00 3,150.17 171.08 Feb-13 4,882.69 Mar-13 4,882.69 Apr-13 4,882.69 May-13 ### Jun-13 4,882.69 Jul-13 4,882.69 Aug-13 4,882.69 Sep-13 4,882.69 Oct-13 4,882.69 Nov-13 4,882.69 Dec-13 4,882.69 Jan-14 4,882.69 Feb-14 4,882.69 Mar-14 4,882.69 Apr-14 4,882.69 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 ### ### 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 3,150.17 171.08 171.08 171.08 171.08 171.08 (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) ### ### (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (330.22) (342.66) (342.66) (342.66) (342.66) Jan-13 Jan-13 Royalty Expense - Web Sites Map Directory Listing Expense Expense Expense $ $ (13,363.85) (3,962.60) 39 12 Feb-13 Feb-13 Feb-13 Feb-13 Website Set-up Fees Social Set-up Fees Maps Set-up Fees Other Revenue Revenue Revenue Revenue Revenue $ $ $ $ 178,392.00 24,853.00 34,129.00 7,287.00 39 1 12 39 4,574.15 24,853.00 2,844.08 186.85 4,574.15 4,574.15 ### 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 2,844.08 186.85 2,844.08 186.85 ### ### 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 2,844.08 186.85 186.85 186.85 186.85 Feb-13 Feb-13 Royalty Expense - Web Sites Map Directory Listing Expense Expense Expense $ $ (12,734.40) (3,545.25) 39 12 (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) ### ### (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (295.44) (326.52) (326.52) (326.52) Mar-13 Mar-13 Mar-13 Mar-13 Website Set-up Fees Social Set-up Fees Maps Set-up Fees Other Revenue Revenue Revenue Revenue Revenue 183,602.00 39 1 12 39 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 3,512.75 189.94 189.94 189.94 189.94 189.94 Mar-13 Mar-13 Royalty Expense - Web Sites Map Directory Listing Expense Expense Expense 39 12 (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) Sales Month Account Name Total 2013 Website Set-up Fees - Custom Total 2013 Social Set-up Fees Total 2013 Maps Set-up Fees Total 2013 Other Revenue Sales Month Account Name Royalty Expense - Web Sites Map Directory Listing Expense 42,153.00 7,407.52 (19,248.52) (12,540.00) Account Type Sales Amount Deferral Term 552,419.00 39 Revenue 76,761.00 1 Revenue 114,084.00 12 Revenue Revenue TOTAL Total 2013 Total 2013 28,377.00 21,366.52 764,630.52 39 Account Type Sales Amount Deferral Term (45,346.77) 39 Expense Expense TOTAL (20,047.85) (65,394.62) 12 28,377.00 Jan-13 Feb-13 Mar-13 4,882.69 23,531.00 3,150.17 171.08 31,734.94 9,456.85 24,853.00 5,994.25 357.92 40,662.02 14,164.59 76,761.00 9,507.00 547.86 Jan-13 Feb-13 Mar-13 (669.19) (625.65) (1,294.84) (1,162.74) (1,670.65) (342.66) (330.22) (672.88) Balance @ 3/31/13 Account # 28,504.13 4000 125,145.00 4001 18,651.42 4002 1,076.86 4005 173,377.40 Deferred Revenue Balance @ 3/31/13 Account # (2,174.59) 6314 (2,626.53) 5389 (4,801.11) Deferred Expenses Tasks 1. Using the Unadjusted March 2013 Income Statement, complete the Deferred Revenue & Expense Schedule for the deferred revenue and expenses for March 2013 2. Based upon the results of the Deferred Revenue & Expense Schedule, prepare the journal entry required for March 2013 to defer the related revenues and expenses from the Deferred Revenue & Expense Schedule 3. Use the journal entry to post the adjustments in the March Income Statement and March Balance Sheet to come up with the "Adjusted" Income Statement and "Adjusted" Balance Sheet May-14 4,882.69 Jun-14 4,882.69 Jul-14 4,882.69 Aug-14 4,882.69 Sep-14 4,882.69 Oct-14 4,882.69 Nov-14 4,882.69 Dec-14 4,882.69 Jan-15 4,882.69 Feb-15 4,882.69 Mar-15 4,882.69 Apr-15 4,882.69 May-15 4,882.69 Jun-15 4,882.69 Jul-15 4,882.69 Aug-15 4,882.69 Sep-15 4,882.69 Oct-15 4,882.69 Nov-15 4,882.69 Dec-15 4,882.69 Jan-16 4,882.69 Feb-16 4,882.69 Mar-16 4,882.69 Apr-16 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 171.08 (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) (342.66) 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 4,574.15 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 186.85 (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) (326.52) 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 4,707.74 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 189.94 (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) (493.55) (1,045.00) May-16 4,707.74 189.94 (493.55) (1,045.00) Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 One Month Income Statement Unadjusted Mar 13 Ordinary Income/Expense Income 4000 Website Set-up Fees 183,602.00 4001 Social Set-up Fees 28,377.00 4002 Maps Set-up Fees 42,153.00 4003 Monthly Hosting Revenue 65,178.00 4004 Monthly Maintenance Revenue 94,775.00 4005 Other Revenue Total Revenues 7,407.52 421,492.52 Cost of Goods Sold 5300 Hosting Costs 5320 Domain Registration 5389 Map Directory Listing Expense 5393 Social Expenses 56,225.80 4,100.00 12,540.00 637.00 5395 Print Marketing 2,007.45 Total Cost of Goods Sold 75,510.25 GROSS PROFIT 345,982.27 Salaries and Related Benefits 5412 Salaries 41,773.53 5415 Payroll Taxes 2,723.76 5418 Benefits 4,240.60 Total Salaries and Related Benefits 48,737.89 Other Expenses 6220 Marketing 60,765.04 6260 Direct Mail - Existing Clients 5,724.13 6290 Miscellaneous Marketing 2,687.75 6314 Royalty Expense - Web Sites 6648 Vacation 19,248.52 2,092.23 6665 Professional Development 968.50 6680 Dues and subscriptions 225.00 6700 Meals and entertainment 6770 Bad Debt Expense 1,134.16 500.00 6790 Office supplies 1,861.53 6800 Computer / Phone Supplies 2,793.69 6805 IT consulting services 2,400.00 6840 Equipment and furniture rental 6890 Telephone 6895 Miscellaneous general expense 128.30 3,558.52 249.57 7040 Credit card and bank fees 36,249.94 6910 Rent 12,974.80 6920 Utilities Total Other Expenses Total Expense Net Ordinary Income 982.77 154,544.45 203,282.34 142,699.93 Other Income/Expense 6401 Depreciation & Amortization Expense Total Depreciation and Amortization Net Income 21,124.15 21,124.15 121,575.78 Adjusted Adjustments Mar 13 Balance Sheet Unadjusted 3/31/13 ASSETS Current Assets 1000 Cash and Cash Equivalents 455,734.06 1200 Accounts Receivable, Net 539,589.75 1330 Prepaid Advertising 13,687.51 1410 Prepaid Misc. General Expense 16,897.82 1450 Prepaid Print Marketing 1460 Prepaid Rent Total Current Assets 2,911.29 12,884.85 1,041,705.28 Fixed Assets 1500 Furniture and fixtures 82,996.65 1520 Computer equipment 176,980.59 1540 Software 288,076.64 1560 Conference booth and equipment 6,494.37 1570 Leasehold Improvements 126,149.11 1675 Accumulated Depreciation (150,412.99) Total Fixed Assets 530,284.37 Other Assets 1715 Deferred Expenses 1999 Other Assets 1800 Secuity Deposits Total Other Assets TOTAL ASSETS 31,638.38 7,362.62 25,014.82 64,015.82 1,636,005.47 LIABILITIES & EQUITY Current Liabilities 2000 Accounts payable 287,692.26 2051 Customer deposits 55,545.00 2140 Misc. Accrued expenses 81,327.49 2155 Accrued Vacation 75,195.14 2190 Deferred rent 2196 Accrued Referral Fees Total Current Liabilities 2,229.36 77,632.22 579,621.47 Total Other Long Term Liabilities 2055 Deferred Revenue 430,694.04 2211 Other Liabilities 301,023.68 Total Other Long Term Liabilities Total Liabilities 731,717.72 1,311,339.19 EQUITY 3000 Equity 3300 Retained Earnings 3500 Net Income Total Equity TOTAL LIABILITIES & EQUITY 1,000.00 39,985.83 283,680.45 324,666.28 1,636,005.47 Adjusted Adjustments 3/31/13