Please help, need assistance with my ACCT 112 Project. I can't Read the book and teach myself. I need help/tutoring to walk through this. I have the excel link for the spreedsheets on Journal, Ledger etc as well if needed, I can screen shot an send.

PROJECT:

If you don't feel comfortable doing the project in Excel, you may use the PDF workpapers posted. You can create any workpapers by hand that have not been provided if you don't use Excel. I would personally use Excel. It's much neater and easier to read. I would start with getting the preparation of the payroll register completed. Then you will record and post all transactions. The book tells you exactly what you are to do. You know transactions must be recorded and posted before the worksheet and financial statements can be compiled. It's a lot of work!! Work on a little bit at a time. Remember I warned you all that the project is scheduled for Thanksgiving week. It's due in the Dropbox and Mini Practice Set Exam deadline is November 26th (Sunday after Thanksgiving). I highly suggest getting started now and doing little-by-little to be done before Thanksgiving week so you can enjoy that time doing something else. I cannot and will not extend the project. I have put check figures on D2L for you.

Your tasks are to do the following:

1. Set up the general journal, general ledgers, accounts receivable subsidiary ledgers, accounts payable subsidiary ledgers, and the auxiliary petty cash record. Update the beginning balances for March from the February ending balance information provided.
2. Journalize the transactions and prepare the auxiliary petty cash record.
3. Prepare the payroll register and journalize the payroll.
4. Post to the general ledgers and update the accounts payable and accounts receivable subsidiary ledgers.
5. Prepare a trial balance on the worksheet and complete the worksheet.
6. Prepare an income statement, statement of owners equity, and classified balance sheet.
7. Journalize the adjusting and closing entries.
8. Post the adjusting and closing entries to the ledger.
9. Prepare a schedule of accounts receivable and a schedule of accounts payable.
10. Prepare a post-closing trial balance.
11. Complete Form 941 and sign it for the quarter ending March 31, 202X.

OC: Completion of the Accounting Cycle for a Merchandise Company Using the Perpetual Inventory Method Mini Practice Set The Fantastic Dress Shop Reviewing the Accounting Cycle for a Merchandise Company This practice set will help you review all the key concepts of a merchandise company, using the perpetual method of inventory valuation along with the integration of payroll, including the preparation of Form 941. Because you are the professional bookkeeper for The Fantastic Dress Shop, we have gathered the following information for you. It will be your task to complete the accounting cycle for March using the knowledge and skills that you have acquired in this course. The company uses the perpetual inventory method. The Fantastic Dress Shop was in existence prior to March. Below is a postclosing trial balance from February to show the permanent accounts that have balances from the previous month. You will use this information to help you get started in March. The Fantastic Dress Shop was in existence prior to March. Below is a postclosing trial balance from February to show the permanent accounts that have balances from the previous month. You will use this information to help you get started in March. Balances in subsidiary ledgers as of March 1 are as follows: Payroll for the three employees of the Fantastic Dress Shop is paid monthly: The January and February payroll summary for all three employees is as follows: In March, salaries and cumulative earnings are as follows: Your tasks are to do the following: 1. Set up the general journal, general ledgers, accounts receivable subsidiary ledgers, accounts payable subsidiary ledgers, and the auxiliary petty cash record. Update the beginning balances for March from the February ending balance information provided. 2. Journalize the transactions and prepare the auxiliary petty cash record. 3. Prepare the payroll register and journalize the payroll. 4. Post to the general ledgers and update the accounts payable and accounts receivable subsidiary ledgers. 5. Prepare a trial balance on the worksheet and complete the worksheet. 6. Prepare an income statement, statement of owner's equity, and classified balance sheet. 7. Journalize the adjusting and closing entries. 8. Post the adjusting and closing entries to the ledger. 9. Prepare a schedule of accounts receivable and a schedule of accounts payable. 10. Prepare a post-closing trial balance. 11. Complete Form 941 and sign it for the quarter ending March 31, 202X. Chart of Accounts for The Fantastic Dress Shop \begin{tabular}{ll} \hline Assets & Revenue \\ 110 Cash & 410 Sales \\ 111 Petty Cash & 412 Sales Returns and Allowances \\ 112 Accounts Receivable & 414 Sales Discount \\ 114 Merchandise Inventory & 416 Rental Income \\ 116 Prepaid Rent & Cost of Goods Sold \\ 120 Delivery Truck & 510 Cost of Goods Sold \\ 121 Accumulated Depreciation, Delivery Truck & Expenses \\ Liabilities & 610 Salaries Expense \\ 210 Accounts Payable & 612 Payroll Tax Expense \\ 212 Salaries Payable & 614 Cleaning Expense \\ 214 FIT Payable & 616 Depreciation Expense, Delivery Truck \\ 216 FICA-Social Security Payable & 618 Rent Expense \\ 218 FICA-Medicare Payable & 620 Postage Expense \\ 220 SIT Payable & 624 Miscellaneous Expense \\ 222 SUTA Payable & \\ 224 FUTA Payable & \\ 226 Unearned Rent & \\ 0wner's Equity & \\ 310 B. Duval, Capital & \\ 320 B. Duval, Withdrawals & \\ 330 Income Summary & \\ \hline \end{tabular} 02X lar. 1 Bach paid balance owed, no discount. 2 Purchased merchandise from Thomas Company on account, $7,000; terms 1/10, n/30. 2 Paid $10 from the petty cash fund for cleaning package, voucher no. 18 (consider it a cleaning expense). 3 Sold merchandise to Young Company on account, $8,000, invoice no. 51; terms 3/10, n/30. Cost of inventory, $2,510. 5 Paid $12 from the petty cash fund for postage, voucher no. 19. 6 Sold merchandise to Young Company on account, $8,000, invoice no. 52; terms 3/10, n/30. Cost of inventory, $2,240. 8 Paid $11 from the petty cash fund for first aid emergency, voucher no. 20. 9 Purchased merchandise from Thomas Company on account, $4,000; terms 1/10, n/30. 9 Paid $9 for delivery expense from petty cash fund, voucher no. 21. Relates to merchandise purchase. 9 Sold more merchandise to Young Company on account, $8,000, invoice no. 53; terms 3/10, n/30. Cost of inventory, $2,940. 9 Paid cleaning service, $100, check no. 110. 10 Young Company returned merchandise sold for $3,200 from invoice no. 52; the Fantastic Dress Shop issued credit memo no. 10 to Young Company for $3,200. Cost of inventory returned, $1,025. 11 Purchased merchandise from Johnsons Company on account, $17,000; terms 3/15, n/60. 12 Sold merchandise for $37,000 cash. Cost of inventory, $11,480. 12 Paid Thomas Company invoice dated March 2, check no. 111. 13 Sold $5,000 of merchandise for cash. Cost of inventory, $2,900. 14 Returned merchandise to Johnsons Company in the amount of $1,000; the Fantastic Dress Shop issued debit memo no. 4 to Johnsons Company. 14 Paid $6 from the petty cash fund for delivery expense, voucher no. 22. Relates to merchandise purchase. 15 Paid taxes due for FICA (Social Security and Medicare) and FIT for February payroll, check no. 112. 15 Bridget withdrew $450 for her own personal expenses, check no. 113. 15 Paid state income tax for February payroll, check no. 114. 15 Paid state income tax for February payroll, check no. 114. 16 Received payment from Young Company for invoice no. 52, less discount and return. 16 Young Company paid invoice no. 51, $8,000. 16 Sold merchandise to Bach Company on account, $4,600, invoice no. 54; terms 3/10, n/30. Cost of Inventory, $1,840. 21 Purchased delivery truck on account from Manny's Garage, $19,700. 22 Sold merchandise to Young Company on account, $5,000, invoice no. 55; terms 3/10,n/30. Cost of Inventory, $2,650. 23 Paid Johnsons Company the balance owed, check no. 115. 24 Sold merchandise to Bach Company on account, $1,940, invoice no. 56; terms 3/10, n/30. Cost of Inventory, $720. 25 Purchased merchandise for $1,800, check no. 116 . 27 Purchased merchandise from Danmark Company on account, $5,000; terms 1/10, n/30. 27 Paid $5 postage from the petty cash fund, voucher no. 23. 28 Young Company paid invoice no. 55 dated March 22, less discount. 28 Bach Company paid invoice no. 54 dated March 16. 29 Purchased merchandise from Thomas Company on account, $13,000; terms 1/10,n/30. 30 Sold merchandise to Danmark Company on account, $9,000, invoice no. 57 ; terms 3/10, n/30. Cost of Inventory, $2,100. 30 Issued check no. 117 to replenish the petty cash fund to the same level. Assume no shortage or overage. 30 Complete the payroll register. 30 Journalized payroll entry (to be paid on 31st). 30 Journalized employer's payroll tax expense. 31 Paid payroll checks no. 118, no. 119, and no. 120. Additional Data A. During March, rent expired, $600. B. Truck depreciated, $400. C. Rental income earned, $350 (one month's rent from subletting). D. Bridget Duval's dress shop is located at 1 Milgate Rd., Marblehead, MA 01945. Its identification number is 334158215. OC: Completion of the Accounting Cycle for a Merchandise Company Using the Perpetual Inventory Method Mini Practice Set The Fantastic Dress Shop Reviewing the Accounting Cycle for a Merchandise Company This practice set will help you review all the key concepts of a merchandise company, using the perpetual method of inventory valuation along with the integration of payroll, including the preparation of Form 941. Because you are the professional bookkeeper for The Fantastic Dress Shop, we have gathered the following information for you. It will be your task to complete the accounting cycle for March using the knowledge and skills that you have acquired in this course. The company uses the perpetual inventory method. The Fantastic Dress Shop was in existence prior to March. Below is a postclosing trial balance from February to show the permanent accounts that have balances from the previous month. You will use this information to help you get started in March. The Fantastic Dress Shop was in existence prior to March. Below is a postclosing trial balance from February to show the permanent accounts that have balances from the previous month. You will use this information to help you get started in March. Balances in subsidiary ledgers as of March 1 are as follows: Payroll for the three employees of the Fantastic Dress Shop is paid monthly: The January and February payroll summary for all three employees is as follows: In March, salaries and cumulative earnings are as follows: Your tasks are to do the following: 1. Set up the general journal, general ledgers, accounts receivable subsidiary ledgers, accounts payable subsidiary ledgers, and the auxiliary petty cash record. Update the beginning balances for March from the February ending balance information provided. 2. Journalize the transactions and prepare the auxiliary petty cash record. 3. Prepare the payroll register and journalize the payroll. 4. Post to the general ledgers and update the accounts payable and accounts receivable subsidiary ledgers. 5. Prepare a trial balance on the worksheet and complete the worksheet. 6. Prepare an income statement, statement of owner's equity, and classified balance sheet. 7. Journalize the adjusting and closing entries. 8. Post the adjusting and closing entries to the ledger. 9. Prepare a schedule of accounts receivable and a schedule of accounts payable. 10. Prepare a post-closing trial balance. 11. Complete Form 941 and sign it for the quarter ending March 31, 202X. Chart of Accounts for The Fantastic Dress Shop \begin{tabular}{ll} \hline Assets & Revenue \\ 110 Cash & 410 Sales \\ 111 Petty Cash & 412 Sales Returns and Allowances \\ 112 Accounts Receivable & 414 Sales Discount \\ 114 Merchandise Inventory & 416 Rental Income \\ 116 Prepaid Rent & Cost of Goods Sold \\ 120 Delivery Truck & 510 Cost of Goods Sold \\ 121 Accumulated Depreciation, Delivery Truck & Expenses \\ Liabilities & 610 Salaries Expense \\ 210 Accounts Payable & 612 Payroll Tax Expense \\ 212 Salaries Payable & 614 Cleaning Expense \\ 214 FIT Payable & 616 Depreciation Expense, Delivery Truck \\ 216 FICA-Social Security Payable & 618 Rent Expense \\ 218 FICA-Medicare Payable & 620 Postage Expense \\ 220 SIT Payable & 624 Miscellaneous Expense \\ 222 SUTA Payable & \\ 224 FUTA Payable & \\ 226 Unearned Rent & \\ 0wner's Equity & \\ 310 B. Duval, Capital & \\ 320 B. Duval, Withdrawals & \\ 330 Income Summary & \\ \hline \end{tabular} 02X lar. 1 Bach paid balance owed, no discount. 2 Purchased merchandise from Thomas Company on account, $7,000; terms 1/10, n/30. 2 Paid $10 from the petty cash fund for cleaning package, voucher no. 18 (consider it a cleaning expense). 3 Sold merchandise to Young Company on account, $8,000, invoice no. 51; terms 3/10, n/30. Cost of inventory, $2,510. 5 Paid $12 from the petty cash fund for postage, voucher no. 19. 6 Sold merchandise to Young Company on account, $8,000, invoice no. 52; terms 3/10, n/30. Cost of inventory, $2,240. 8 Paid $11 from the petty cash fund for first aid emergency, voucher no. 20. 9 Purchased merchandise from Thomas Company on account, $4,000; terms 1/10, n/30. 9 Paid $9 for delivery expense from petty cash fund, voucher no. 21. Relates to merchandise purchase. 9 Sold more merchandise to Young Company on account, $8,000, invoice no. 53; terms 3/10, n/30. Cost of inventory, $2,940. 9 Paid cleaning service, $100, check no. 110. 10 Young Company returned merchandise sold for $3,200 from invoice no. 52; the Fantastic Dress Shop issued credit memo no. 10 to Young Company for $3,200. Cost of inventory returned, $1,025. 11 Purchased merchandise from Johnsons Company on account, $17,000; terms 3/15, n/60. 12 Sold merchandise for $37,000 cash. Cost of inventory, $11,480. 12 Paid Thomas Company invoice dated March 2, check no. 111. 13 Sold $5,000 of merchandise for cash. Cost of inventory, $2,900. 14 Returned merchandise to Johnsons Company in the amount of $1,000; the Fantastic Dress Shop issued debit memo no. 4 to Johnsons Company. 14 Paid $6 from the petty cash fund for delivery expense, voucher no. 22. Relates to merchandise purchase. 15 Paid taxes due for FICA (Social Security and Medicare) and FIT for February payroll, check no. 112. 15 Bridget withdrew $450 for her own personal expenses, check no. 113. 15 Paid state income tax for February payroll, check no. 114. 15 Paid state income tax for February payroll, check no. 114. 16 Received payment from Young Company for invoice no. 52, less discount and return. 16 Young Company paid invoice no. 51, $8,000. 16 Sold merchandise to Bach Company on account, $4,600, invoice no. 54; terms 3/10, n/30. Cost of Inventory, $1,840. 21 Purchased delivery truck on account from Manny's Garage, $19,700. 22 Sold merchandise to Young Company on account, $5,000, invoice no. 55; terms 3/10,n/30. Cost of Inventory, $2,650. 23 Paid Johnsons Company the balance owed, check no. 115. 24 Sold merchandise to Bach Company on account, $1,940, invoice no. 56; terms 3/10, n/30. Cost of Inventory, $720. 25 Purchased merchandise for $1,800, check no. 116 . 27 Purchased merchandise from Danmark Company on account, $5,000; terms 1/10, n/30. 27 Paid $5 postage from the petty cash fund, voucher no. 23. 28 Young Company paid invoice no. 55 dated March 22, less discount. 28 Bach Company paid invoice no. 54 dated March 16. 29 Purchased merchandise from Thomas Company on account, $13,000; terms 1/10,n/30. 30 Sold merchandise to Danmark Company on account, $9,000, invoice no. 57 ; terms 3/10, n/30. Cost of Inventory, $2,100. 30 Issued check no. 117 to replenish the petty cash fund to the same level. Assume no shortage or overage. 30 Complete the payroll register. 30 Journalized payroll entry (to be paid on 31st). 30 Journalized employer's payroll tax expense. 31 Paid payroll checks no. 118, no. 119, and no. 120. Additional Data A. During March, rent expired, $600. B. Truck depreciated, $400. C. Rental income earned, $350 (one month's rent from subletting). D. Bridget Duval's dress shop is located at 1 Milgate Rd., Marblehead, MA 01945. Its identification number is 334158215