$\backslash$begin$\{$tabular$\}\{|$l$|$l$|$l$|$l$|$l$|$l$|\}$

$\backslash$hline & SAX COMPUTER CENTER CHECK FIGURES & & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline Worksheet & Trial Balance & $11,395$ & & & $\backslash \backslash$

$\backslash$hline Worksheet & Adjustments & $1,279$ & & & $\backslash \backslash$

$\backslash$hline Worksheet & Adjusted Trial Balance & $11,514$ & & & $\backslash \backslash$

$\backslash$hline Worksheet & Income Statement & $6,685$ & & & $\backslash \backslash$

$\backslash$hline Worksheet & Net Income & $3,006$ & & & $\backslash \backslash$

$\backslash$hline Worksheet & Balance Sheet & $7,835$ & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline Financial Statements & Income Statement & $3,006$ & & & $\backslash \backslash$

$\backslash$hline Financial Statements & Statement of Owner's Equity & $7,406$ & & & $\backslash \backslash$

$\backslash$hline Financial Statements & Balance Sheet & $7,616$ & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline & Post Closing Trial Balance & $7,735$ & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline & & & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Project is due Sunday, September $1$st by $11$:$59$ PM$.\}$ & & & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{6\}\{|$l$|\}\{$Attach the completed excel file to the Blackboard Assignment folder.$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{6\}\{|$c$|\}\{$You may collaborate with your peers, use your notes and use your book. The only cheating is copying someone$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{6\}\{|$l$|\}\{$else$\text{'}$s work. DO NOT BE A CHEATER.$\}\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$

$1.$ Use the trial balance and the adjusting information given below to complete the worksheet for the three months ended September $30,201$X$.$

$2.$ Use the completed worksheet to prepare the financial statements $($highlighted in RED in the workbook$).$

$3.$ Note, this means that all Tabs Colored in Red should be completed for this portion of the Assignment.

$4.$ Validate the totals you get against the Check Figures before proceeding

$5.$ See Assignment $2$ worksheet for instructions on the final assignment.

$1.$ At the end of September, Tony Sax took a complete inventory of his supplies and found the following supplies on$-$hand:

$5$ dozen $\backslash (1/4^\{\backslash$prime $\backslash$prime$\}\backslash )$ screws at a cost of $\backslash (\backslash$$ $8\mathrm{.}00\backslash )$ a dozen

$2$ dozen $\backslash (1/2^\{\backslash$prime $\backslash$prime$\}\backslash )$ screws at a cost of $\backslash (\backslash$$ $5\mathrm{.}00\backslash )$ a dozen

$2$ cartons of computer inventory paper at a cost of $\backslash (\backslash$$ $14\backslash )$ a carton

$3$ feet of coaxial cable at a cost of $\backslash (\backslash$$ $4\mathrm{.}00\backslash )$ per foot

$2.$ After speaking to his accountant, he found that a reasonable depreciation amount for each of his long$-$term assets is as follows:

Computer purchased July $5,201$X

Depreciation $\backslash$$$33$ a month

Office equipment purchased July $17,201$X

Depreciation $\backslash$$$10$ a month

Computer workstations purchased Sept. $17,201$X

Depreciation $\backslash$$$20$ a month

Tony uses the straight$-$line method of depreciation and declares no salvage value for any of the assets. If any long$-$term asset is purchased in the first $15$ days of the month, he will charge depreciation for the full month. If an asset is purchased on the $16$th of the month, or later, he will not charge depreciation in the month it was purchased.

$3.$ August and September's rent has now expired. Rent is $\backslash (\backslash$$ $400\backslash )$ a month SAX COMPUTER CENTER

ASSIGNMENT $2$:

$1.$ Journalize the adjusting entries from Assignment $1$ that you identified and recorded on your worksheet

$2.$ Post the adjusting entries to the ledger accounts.

$3.$ Journalize the closing entries.

$4.$ Post the closing entries to the ledger acounts.

$5.$ Balance all the affected ledger accounts.

$6.$ Prepare a post$-$closing trial balance.

$7.$ All Tabs Colored in Blue should be completed for this Assignment.

$8.$ Validate the Post$-$Closing Trial Balance check figures.

$8.$ Attach this Excel workbook to the Blackboard Assignment Folder once completed