This project is designed as an assessment of key Learning Outcomes presented in this course. 1.: Analyzing Business Transactions. You will analyze 10 business transactions and provide the proper journal entries. (20 pts) 2.-4.: Understanding Financial Statements: You will prepare an Income Statement, Statement of Retained Earnings, and Balance sheet. (60 pts) 5.: Understanding Financial Statement Analysis: You will prepare a horizontal and vertical analysis on Income Statement accounts. (10 pts) 6.: Analyzing Business Transactions. You will complete a bank reconciliation and figure net pay for an employee. Instructions: Please save this spreadsheet to your computer. After you have completed the project save it with your name as the filename, for example mine would read: annette-taggart. You may upload your project in our course assignment tab. You MUST score 80% or higher on this project to receive credit for this course. Your final grade in this course will be figured as follows: Posttest (must score 80% or higher) 50%; Financial Project (must score 80% or higher) 50%. Example: Posttest 80; Financial Project 95: Course grade 80 +95 = 175 / 2 = 88 B page- wet 1.: Review the following 10 transactions and supply the proper journal entries in the spaces provided. (20 pts) ssets: Cash, Accounts Receivable, Supplies, Prepaid Rent, Delivery Truck, Furniture abilities: Accounts Payable, Unearned Revenue, Notes Payable quity: Retained Earnings, Common Stock, Paid in Excess of Par Common, Delivery Revenue, Utilities Expense, Salaries Expense, Supplies Expense Record the following transactions for Peterson's Delivery Service using the accounts listed above. List all Debit accounts/amounts first when recording your transaction. 1. 1000 shares of Common stock with a par value of $5 per share were issued for $8 per share cash Debit Account Title Credit 2. Earned delivery revenue on account, $4,800. Account Title Debit Credit Part 1 Continued (pg. 2 of 3): 3. Purchased delivery trucks by signing a note bearing no interest, $210,000. Account Title Debit Credit 4. Received payment from the sale on account in transaction #2, $4,800. Account Title Debit Credit 5. Paid the note payable for the delivery trucks purchased in transaction #3, $210,000. Account Title Pooge Credit 6. Received cash for a delivery to be made in 60 days in the amount of $1,800. Account Title Debit Credit 7. Paid salaries for the month in the amount of $7,500. Account Title Debit Credit Scroll over for more transaction Part 1 Concluded (page 3 of 3): 8. Bought supplies on account in the amount of $956. Account Title Debit Credit 9. Performed delivery services on account, $22,050 Account Title Debit Credit 10. Purchased another delivery truck for cash, $44,000. Account Title Debit Credit Page 3 3 end of problem #1 Look under next tab for problems #2-#4 Financial Project ORGL 225 Minimum of 80% Required for Competency #2-4: Analyze the following adjusted Trial Balance for Remington Sales and prepare an Income Statement, Statement of Retained Earnings and Balance Sheet in the spaces provided. (60 pts) Remington Sales Adjusted Trial Balance 12/31/2017 Account Debit Credit Cash 63,740 Accounts Receivable 88,600 Trucks 102,900 Office Furniture 8,400 Accounts Payable 3,000 Notes Payable 30,600 Capital Stock 30,000 Retained Earnings, 2016 January 1 30,540 Dividends 18,300 Sales Revenue 371,010 Fuel Expense 21,900 Salaries Expense 65,850 Utilities Expense 2,310 Rent Expense 15,000 Supplies Expense 75,600 Miscellaneous Expense 2,550 $465,150 $465,150 Prepare an Income Statement for 12/31/2017 using the Adjusted Trial Balance information above. Prepare an Income Statement for 12/31/2017 using the Adjusted Trial Balance information above. Remington Sales Income Statement For year ended December 31, 2017 Net Income #4: Prepare a Balance Sheet for 12/31/2017 using the Adjusted Trial Balance and Statement of Retained Earnings information. Remington Sales Balance Sheet Supply proper date entry Assets Total Assets Liabilities & Equity Total Liabilities & Equity