Accounting Cycle, Help highly needed for excel please!

This case study must be completed in Excel program using the formats provided in this workbook. Objectives: 1. Practice the steps involved in the Accounting Cycle 2. Practice electronic spreadsheet skills a. Formulas b. Linking worksheets Instructions 1. Using the Chart of Accounts provided record the transactions for month of June in the General Journal. Do not add new accounts 2. Post the General Journal entries to the General Ledger. 3. Prepare the Unadjusted Trial Balance in the Trial Balance tab 4. Journalize any adjusting entries in the General Journal and post to the General Ledger Show your calculations for the adjustments in the Adjustments tab. 5. Prepare the Adjusted Trial Balance in the Trial Balances tab. Instructions Team 24 7 9 3 6. Prepare the closing journal entries in the General Journal and post to the General Ledger 5 7. Prepare the Post-Closing Trial Balance in the Trial Balances tab Also the Income Statement 8 and Balance Sheet columns on the Trial Balance tab 8 8. Prepare classified statements for the Income Statement, Statement of Retained Earnings, Statement of Stockholders' Equity, and Balance Sheet Statement for the period of July 1, 2020 - June 30 2021 in the appropriate tabs Ignore the effects of income tax 10 1 10. Note the following additional information: 12 13 1. The business began on July 1, 2020, 2. The period under consideration is July 1, 2020 - June 30, 2021 17 3. For the purposes of this assignment, ignore the effects of cost of goods sold, Income tax, property tax. sales tax, and payroll tax 30 4. Straight line depreciation method is used. 5. The supplies on hand June 30, 2021 were $750, 6. Physical count of food inventory on hand June 30, 2021 was $1.500. se 7. The telephone bill for June 30, 2021 for $135 was received July, 2021 14 15 18 35 29 31 2 33 34 35 11 8. The utility bill for June 30, 2021 for $285 was received July 2021 9. For the purposes of this assignment, consider the note payable for delivery van purchase to be a current liability 10. The following transactions occurred in the first month of operations and are reflected in the general ledger account balances July 1, 2020 Liz Burnes and her brother, James each invested $15,000 in a corporation they formed to run Diner 64 Inc. Each were issued 1,500 shares of $10 per value common stock July 1, 2020 The corporation took a $30,000 small business loan from a local bank. The loan is an 'interest only loan for three years at a fixed rate of 12% per year. A baloon payment of the principal will be due in 3 years. The monthly interest payment is due by the 10th of the following month July 1, 2020 Because this was a new business the landlord required the business to prepay $6,000 for the rent for the first six month plus a $1.500 security deposit for a total cash outlay of $7,500 July 1, 2020 The business purchased equipment and fixtures for $20,000 in cash The assets have a useful life of 10 years July 1, 2020 The company purchased a delivery van value at $40,000 with a $15,000 down payment and a 3-year $25,000 note payable with an annual intereste rate of 6%. The truck has a 10-year useful life. The monthly payment including principal and interest is $760,55 July 8, 2020 Preston Hill, a local Bed & Breakfast (B&B), arranges with Diner 64 to provide breakfast for their guests at $10 per person per day Diner 64 wil bill the B & B at the end of each month for the meals provided. Payment is required by the 10th of the next month. Paid $4,800 for two-year fire and liability insurance with coverage beginning September 1, 2020 July 15, 2020