The following transaction occurred for Parry Pet Co. during the period ended 12/31/x1:

1. The company issued stock for $57,000. 2. Purchased supplies for $3,000 on account. 3. Purchase equipment with a Note Payable of $10,0004. Purchased two years of Insurance for $7,000. 5. Performed services for a customer and received cash of $8,000. 6. Performed services and received $1,500 cash and $2,500 on account.7. Paid employee wages of $4,000. 8. Customer paid $5,000 for services to be provided in the future.9. Received $12,000 on account for performing services. 10. Collected $5,000 from a customer that owed you money for a service previously provided. 11. Paid rent for the period of $6,000. 12. Received a utility bill for $2,000. 13. Paid $500 of the amount owed for supplies. 14. Paid dividend of $3,000.

The following adjusting entries will be needed.

a) Salaries earned but not paid for the period $1,500. b) Depreciation of $600.c) Expired Insurance of $3,000. d) Supplies on hand - $500. e) Earned $2,000 of unearned revenue.

Instruction:

You will prepare the following in excel: 1. General Journala. Journal entries b. Adjusted journal entries c. Post-closing journal entries 2. Ledger - T accounts a. Show beginning balance b. Post all activity c. Show ending balancei. Before adjustments ii. After adjustments iii. After closing 3. Trial Balancea. Unadjusted b. Adjusted c. Post-Closing 4. Financial Statements a. Income statement b. Statement of Retained Earnings c. Balance Sheet d. Cash Flow

Remember to use proper formatting for everything you do!Financial statements should be GAAP format and look professional.Assume you are making this for a client.