You will assume the role of an accountant and complete the year-end adjustment process for your company using a provided workbook. This workbook is the first deliverable (Part I) of your final project. In Part II, you will analyze the provided financials of the same company and create a report documenting your findings. please hel with tables below

Peyton Approved Adjusting Journal Entries 2017 Date Accounts 31-Dec Depreciation Expense Accumulated depreciation Debit 2,642.86 Credit 2,642.86 2,000.00 31-Dec Amortization Expense Accumulated Amortization 2,000.00 31-Dec Interest Expense Interest Payable 1,468.75 1,468.75 2,000.00 31-Dec Insurance Expense Prepaid Insurance 2.000.00 27,850.00 31-Dec Baking Cost of Goods Sold Baking Supplies should be the amount sold during the period 27,850.00 take the amount left and subtract from beg baking supplies 31-Dec Office Supplies Expense Office Supplies 250.00 should be the amount used during the period 250.00 take the amount on hand and subtract from office supplies on the unadjusted trial balance. 8,892.00 31-Dec Wages Expense Wages Payable 45,103.61 8,892.00 How much do they make per day x # of days worked 45,103.61 but not paid during December The project scenario sheet states Baking Supplies has an ending balance of 27,850. You need to expense the amount that was sold during the period to get reach this ending balance. The 27,850 is what the balance needs to be. If you look at the worksheet t shows on the unadjusted trial balance a balance in Baking Supplies You must subtract 27,850 from that balance to determine the amount that was sold....this is the adjustment amount. Here we need to expense the amount that was USED during the period. If you look at the unadjusted trial balance you see we have a balance. The project scenario sheet states the ending balance in Office Supplies is 250. You need to take subtract these two to determine the amount used.....this is your adjustment amount. The project scenario sheet tells you employees make $5700 per day and was paid on December 27. So what we must do here is accrue wages for the time they have worked in December but will not be paid until January. Take the number of days left in December and multiply by the daily amount. Peyton Approved Trial Balance 2017 Unadjusted trial balance Adjusting entries Debit Credit Debit Credit 64,713.72 165,250.00 25,750.00 7,500.00 2.400.00 17,000.00 3,285.72 10,000.00 2,000.00 2,300.00 1,600.00 30,401.00 10,000.00 Adjusted tral balance Debit Credit 64,713.72 165,250.00 25,750.00 7,500.00 2,400.00 17,000.00 3,285.72 10,000.00 Adjusting entries must be posted in these columns 2.000.00 2,300.00 1.600.00 30,401.00 10,000.00 27,325.00 27,325.00 Account Cash Baking Supplies Merchandise Inventory (FIFO) Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Leasehold Improvements Accumulated Amortization Trademark Office Supplies Accounts Receivable Notes Payable Interest Payable Accounts Payable Wages Payable Loans Payable Common Stock Dividends Bakery Sales Merchandise Sales Baking Cost of Goods Sold Rent Expense Interest Expense Insurance Expense Depreciation Expense Amortization Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Merchandise COGS (FIFO) 21,000.00 30,000.00 21,000.00 30,000.00 20,000.00 20,000.00 335,675.00 35,200.00 335,675.00 35,200.00 90,000.00 90,000.00 2,780.00 2.780.00 375.00 5.200,00 375.00 5,200.00 3,456.00 15.760.00 3,456.00 15,760.00 Total 464,485.72 464,485.72 464,485.72 464,485.72 Peyton Approved Closing Entries For Year Ending 12/31/2017 Credit Date Accounts 31-Dec Bakery Sales Merchandise Sales Income Summary Debit 355,675.00 35,200.00 390,875.00 31-Dec Income Summary Baking Cost of Goods Sold Rent Expense Interest Expense Insurance Expense Depreciation Expense Amortization Expense Misc. Expense Office Supplies Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Merchandise Cost of Goods Sold (FIFO) 31-Dec Income Summary Retained Earnings 137,400.00 90,000.00 1,468.75 2,000.00 2,642.86 2,767.00 2,780.00 1,600.00 375.00 5,200.00 8,892.00 3,456.00 10,000.00 268,581.61 31-Dec Retained Earnings Dividends 122.293.39 102,299.99 Debits must equal credit amounts 20,000.00 781,750.00 781,750.00 Peyton Approved Statement of Retained Earnings For Year Ending 12/31/2017 Beginning Balance: plus Net Income less Dividends: Ending Balance