Question: please label the answers . . . 1. In Excel, set up a workbook with the following tabs: General Journal (For your journal entries) T-Accounts

please label the answers please label the answers . . . 1. In Excel, set up

. . . 1. In Excel, set up a workbook with the following tabs: General Journal (For your journal entries) T-Accounts Trial Balance Income Statement Statement of Retained Earnings Balance Sheet 2. Record the following journal entries in the general journal: Apr 1 Received cash for Common Stock (30,000 shares, $1 par value) Received Computer Equipment for Common Stock (2,000 shares, $1 par value) 2 Paid first month's rent 3 Purchased office supplies 10 Paid annual insurance premium 14 Paid salaries 24 Collected commissions earned 28 Paid salaries 29 Paid for computer repair 30 Paid telephone bill 30 Paid cash for dividends $ 30,000 20,000 1,800 1,000 2,400 1,600 8,000 1,600 350 750 1,500 3. Set up the T-accounts and enter the journal entries into the Traccounts. Calculate the balances. 4. Set up the Trial balance and enter the balances. 5. Complete the adjusting entries in the general journal Apr 30 2/3 of a month's insurance has expired Office supplies on hand 600 Depreciation on computer 500 Unpaid salaries Commissions earned but not billed 1,750 6. Enter the adjusting entries into the T-accounts 7 Create adjusted trial balance columns in your Trial Balance tab and update your trial balance 8. Create your income statement, statement of retained earnings, and balance sheet. 9. EXTRA CREDIT: write the closing entries and create a post-closing trial balance 420

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