This project is presented in three-parts that assesses your knowledge of financial accounting and the accounting cycle. In the first part, you are required to prepare joumal entries, T-accounts and a trial balance for a variety of transactions for a new company. In part 2, you are asked to analyze certain transactions, prepare adjusting entries post to T-accounts and prepare an adjusted trial balance. In the third part of the project you will prepare closing journal entries, post to T-accounts, prepare an income statement and balance sheet and prepare a post- closing trial balance. Everything flows from the first part of the assignment through the end of the assignment BACKGROUND After graduating, you have decided to open your own business as a corporation. The project is a company called ABC, Inc. Since you have taken a financial accounting class as part of your undergraduate degree, you have decided to save the money do your own accounting work. This includes understanding that all transactions are recorded properly in appropriate journals, T-Accounts and trial balances and prepare the the financial statements. To accomplish these goals, you must have a full understanding of the accounting cycle. REQUIREMENTS 1. Create necessary Excel spreadsheets to complete this work. Handwritten journals, T-accounts, or trial balance will not be accepted nor will any other file format. You will be assigned a unique ID number that will be used throughout this project. Several of the transactions will require you to multiply your ID Number by a specific amount. This is how each project will have unique results. When using Excel, formulas must be used when possible and numbers should not be hardcoded. For instance, the transaction occurring on June 1 is ID X 500. Do not just solve this using your calculator and type in the answer in Excel, you must have a formula such as-500 x ID There should be only formulas on the T-accounts and trial balance. 2. All dollar figures should be rounded to the nearest dollar with no decimals included. Make sure that your submission is formatted with dollar signs and commas and that no decinals are given