Assignment Tasks:

This second part of the assignment is an extension of part I. It is recommended that you review the scenario from Part I to help clarify, and then familiarize yourself with the remaining information provided below for the company titled Banco Extrusion Inc. All required information to complete the rest of Banco$$s bookkeeping using Excel is included. Produce the following:

Using the same excel file that you had for part I. Here you are required to complete the remaining set of books for Banco Extrusion Inc. $$

You are required to post the adjustment journal entries for the following transactions.

There may be adjusting entries required based on the entries in assignment $1.$

You are required to create an adjusted general ledger and adjusted trial balance based on the adjusted journal entries. You should create new accounts in the trial balance as needed.

You are required to create month$-$end adjusted financial statement of the company$-$ Income Statement, balance Sheet, and statement of retained earnings

Use account names you are familiar with in your program of study. Use only the HST Payable account and HST paid on expenses account.$$

Ignore decimal places. Round to the nearest dollar. Use all Excel functions where reasonable.$$

Record all prepaid expenses to prepaid accounts.$$

You must provide a short description for each journal entry. Ignore HST unless otherwise explicitly stated.

Assignment Submission:

Your assignment is to be submitted in EXCEL format. It should be submitted with the following guidelines:

Include a cover page with the course code and course name, the assignment number, the title of your assignment, your student ID$,$ your name, the instructor$$s name, and the date the assignment is created.Ensure the first page of your assignment has the title at the top of the page and the sections of your report have headings and subheadings to chunk your assignment into sections for each of the topics you are writing about.Font should be Arial $12$ or Calibri $12.$ Text must be double spaced but table may be single spaced.You must cite all your sources of information using APA formatting.$$

$$

Adjustment transactions:

Accrue wages payable to Lan and Liz as of Jan $31.$

The telephone bill for January was received on Feb $7$th in the amount of $$250+$ HST$.$

Office supplies on hand were counted as $$800$ as of the end of the month.

The utility bill for Jan was received on Feb $3$rd in the amount of $$200($ignore HST$).$

The company received a $$2000+$ HST advertising bill on Feb $13$th for work completed in Jan.

We estimate approximately $2\mathrm{.}5\%$ of accounts receivable are uncollectible. Use the Allowance for Doubtful accounts $($AFDA$)$ method.

The company wants to record depreciation on a monthly basis using straight$-$line depreciation. $.$

Computer$-3$ year useful life with no residual value

Furniture$-5$ year useful life with $$3,500$ residual value

Store equipment $-4$ year useful life with $$1,500$ residual value

$$

Hint: You must review the Journal Entries tab and the Trial Balance tab for additional information for adjusting entries.

Also note, that you should accrue HST on expenses that are accrued.