Business Finance Homework Help

Deliverable Length: Completed template

The excel template needed to complete the assignment is attached.

The instructions are also attached in PDF format to the assignment.

You will complete financial statements for a company using the data listed below.

Accounting Data

1. 4/1: Jim invested $100,000 in cash and $50,000 in equipment in the company.
2. 4/2: The company prepaid for insurance with $1,200 cash.
3. 4/3: The company paid cash for rent totaling $1,200.
4. 4/5: The company completed services for a client for cash totaling $8,000.
5. 4/10: The company provided a service for $15,000 on account.
6. 4/11: The company purchased equipment for $5,000 and supplies for $3,000 on account.
7. 4/15: The company paid $1,500 cash for employee salaries.
8. 4/24: The company paid $300 cash for utility bills.
9. 4/28: The company paid dividends totaling $2,000 cash.

Adjusting entries completed on April 30

1. Insurance expired for the month of April.
2. An ending count determined that supplies totaled $2,600.
3. Wages of $3,000 were earned but not paid.
4. Services of $5,000 were earned but not billed.
5. Depreciation on the equipment is $500 per month.

Using the above data, complete the following:

• Journal entries
• Posting to T-accounts
• Trial balance
• Adjusting entries
• Adjusting trial balance
• Income statement
• Statement of retained earnings
• Balance sheet and closing entries