Please show all calculations to be put into Excel.

1. Set up T-accounts for the accounts on the trial balance and enter beginning balances.
2. 1) Prepare journal entries for transactions (a) through (k) and

2) Post them to the T-accounts.

3. 1) Journalize the adjusting entries (l) through (p) and

2) Post them to the T-accounts.

4. Prepare:
   1. an income statement (including earnings per share),
   2. statement of stockholders' equity, and
   3. balance sheet.
5. Identify the type of transaction for (a) through (k) for the statement of cash flows (O for operating, I for investing, F for financing), and the direction (+or -) and amount of the effect.
6. 1) Journalize the closing entry and

2) post the closing entry to the T-accounts.

7. Compute the following ratios for 2021 and explain what the results suggest about the company:
   1. Current ratio
   2. Total asset turnover
   3. Net profit margin

X Times New... v 12 =v=w=w .- - 2 L ARC.cD:Fe ABCD: AP Aa A A-ZA AaB CCDBCB Aabbia Paule Nama BIU ==== No Spacing Heading X Title Heacing 2 Dictate Sensitivity Editor Styles Pana Juu Recording Transactions (Including Adjusting and Closing Entries), Preparing Financial Statements, and Performing Ratio Analysis Josh and Kelly McKay began operations of their Roof repair company (McKay Roofing, Inc.) on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2021, was as follows: Debit 8,000 5,000 9,000 10,000 7.000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation (on equipment) Intangible assets (long term, not detailed to simplify) Accounts Payable Notes Payable Wages payable Interest Payable Income Taxes Pavable Uncarned revenue Common Stock (60.000 shares. SO.10 par value) Additional Paid-in Capital Retained Earnings Service revenue Depreciation expense Supplier expense Wage Expense General and Administrative Interest Expense Income Tax Expense Totals 6,000 11,000 8,000 32,000 32.000 Transactions during 2021 follow: a. Borrowed 36,000 cash on July 1, 2021, signing a one-year, 10 percent note payable. b. Purchased equipment for S18,000 cash on July 1, 2021. c. Sold 10,000 additional shares of capital stock for cash at $0.90 market value per share at the beginning of the year. Page 1 of 2 163 of 454 words 163 of 454 words English (United States) English (United States) Accessibility: Investigate Focus + 130% Times New... Y 12 AP Aa A v== 2 L ARC.cD:Fe ABCDF ABCD BECADEAaBbt LD Paule BIU x x Noma ALA No Spacing Title Heading 1 Heading 2 Dictate Sensitivity Editor Styles Pana d. Earned $100,000 in revenues for 2021, including $22,000 on credit and the rest in cash. e. Incurred General and Administrative expenses of S45,000 for 2021, including $10,000 on credit and the rest paid with cash. f. Purchased $4.000 of supplies on cash. Collected accounts receivable, $9,000. h. Paid accounts payable, $10,000. i. Purchased $11,000 of supplies on account. j. Received a $4.000 deposit on work to start January 15, 2022, k Declared and paid a cash dividend, $7,000. Data for adjusting entries: 1. Supplies of $5.000 were counted on December 31, 2021. mr. Depreciation for 2021, $2,000. n. Interest accrued on notes payablc (to le computed). o. Wages earned since the December 24 payroll but not yet paid $3,000. p. Income tax expense was $8,000, payable in 2022. Required (all in an Excel file with separate spreadsheets): 1. Set up T-accounts for the accounts on the trial balance and enter beginning balances. 2.1) Prepare joumal entries for transactions (a) through (k) and English (United States) 1x Accessibility: Investigate Page 2 of 2 454 words Focus + 130%