Macro Baking $($MBC$)$ was organized late last year and had minimal activity in the first year. At the beginning of the second year, MBC had the following balance sheet:

$\backslash$table$[[$Macro Baking Corp$],[,$Balance Sheet,,$],[,$At Jan $1,2023,,],[$Assets:$,,$Liabilities:,,$],[$Cash$,$$$12,500,$Accounts Payable,,$500],[$Accounts Receivable,$700,$Total Liabilities,$$,500],[$Supplies$,630,,,],[$Inventories$,200,$Stockholders Equity:,,$],[,,$Common Stock,,$11,770],[,,$Retained Earnings,,$1,760,$

$1$ Record journal entries for the transactions dated January $1-25$ of the current year on the journal entry form $($separate tab$).$

$2$ Create a T$-$account for every account used to date by MBC on the T$-$account tab $($There are extra$).$ Correctly post any beginning balances.

Post each of the journal entries to the correct T$-$account using linking$/$referencing functionality. See example video as needed.

Using the math functionality in Excel$/$Sheets$,$ calculate the correct SUBTOTAL balance for each T$-$account. Adjusting journal entries for Part B will be poste $3$ after this subtotal.

$4$ Prepare an unadjusted Trial Balance for Jan $31$ using linking$/$referencing functionality to each T$-$account subtotal balance.

REQUIRED FOR POINTS Part B:

This uses your corrected Part A file to continue the process.

Using the balances in the T$-$accounts $($update as needed from Part A$)$ and the information given, calculate and record the adjusting journal entries for Jan $31$ in $5$ the journal.

$6$ Post each of the adjusting entries to the T$-$accounts $($after the previous subtotals submitted for Part A$)$ using the same linking$/$referencing functionality. Using the math functionality in Excel$/$Sheets$,$ calculate the correct final balance for each $T-$account on the correct side. The $T-$account should have the $7$ unadjusted total, the adjusting journal entries, then a new separate final total.

$8$ Prepare an ADJUSTED Trial Balance for Jan $31$ using the linking$/$referencing functionality to the final totals in each T$-$account.

$9$ Prepare the $3$ Financial statements in good form using the final adjusted account totals as of January $31,$ current year