Download the attached excel template Use the format provided

Download the attached excel template. Use the format provided when completing this assignment. Required: ° Analyze the unadjusted trial balance amounts and the adjusted trial balance amounts to determine the adjusting journal entries that were made Prepare the appropriate adjusting journal entries on the excel spreadsheet using CELL REFERENCES for the account titles and amounts. (The first entry has been prepared for you as an example.) Prepare an income statement, a statement of retained earnings, and an unclassified balance sheet in proper form (use textbook as necessary for reference on proper format) on the excel spreadsheet using CELL REFERENCES for the account titles and amounts. All expenses and liabilities should be placed in descending size order. You will need to insert the appropriate subtotals and use MATHEMATICAL FORMULAS in the spreadsheet when calculating subtotals and totals. You may add/delete rows and format the spreadsheet as necessary to present a polished, professional project. ° * DOUBLE CHECK-DOES YOUR BALANCE SHEET BALANCE?

Solution

No. Date Account Titles and Explanation Debit Credit 1 Dec. 31 Accounts Receivable 7,800 Service Revenue (127800-117200)-(12000-9200) 7,800 (To record accrued service revenue) 2 Dec. 31 Supplies expenses 10,700 Supplies 10,700 (To record supplies used) 3 Dec. 31 Insurance Expense 1,600 Prepaid Insurance 1,600 (To expired insurance) 4 Dec. 31 Depreciation Expense 11,700 Accumulated Depreciation-Equipment 11,700 (To record depreciation on equiment) 5 Dec. 31 Interest Expense 300 Interest Payable 300 (To record interest accrued on the note) 6 Dec. 31 Unearned Service Revenue 2,800 Service Revenue (12000-9200) 2,800 (To record service revenue earned) 7 Dec. 31 Salaries and Wages Expense 2,600 Salaries and Wages Payable (10156-9400) 2,600 (To record accrued wages) 8 Dec. 31 Bad debt expenses 15555 Allowance for Doubtful debts 1555 Income Statement For the year ended Dec 31 2017 Service Revenue 127,800 Less: Expenses Salaries and Wages Expense 18,600 Insurance Expense 1,600 Interest Expense 1,000 Depreciation Expense 11,700 Supplies Expense 10,700 Bad debt expenses 1,555 Rent Expense 8,000 Total expenses 53,155 Net Income 74,645 Retained Earnings Statement Retained Earnings, Janaury 1 65,575 Add: net Income 74,645 140,220 Retained Earnings, December 31 140,220 Balance Sheet For the year ended Dec 31 2017 Assets Current Assets Cash $16,000 Accounts Receivable $51,800 Allowance for Doubtful Debts 1680 $50,120 Supplies $6,800 Prepaid Insurance $5,100 Total current assets $78,020 Property Plant & Equipment Equipment 185,000 Accumulated Depreciation-Equipment $69,700 Total Property Plant & Equipment $115,300 Total Assets $193,320 Liabilities & Stockholder Equity Current Liabilities Accounts Payable 11,000 Salaries and Wages Payable 2,600 Interest Payable 300 Unearned Service Revenue 9,200 Total Current Liabilities 23,100 Long term Liabilities Notes payable 10,000 Total Liabilities 33,100 Stockholder Equity Common Stock 20000 Retained Earnings 140,220 Total Stockholder Equity 160,220 Total Liabilities & Stockholder Equity 193,320