Assignment Part 1 Take the worksheet for Jane Doe Company for the month ending J

Assignment Part 1 Take the worksheet for Jane Doe Company for the month ending January 31st of this year. Complete the adjusting entry columns from the additional information below. Then complete the worksheet. Additional Information A late sales invoice was received from the sales department for services performed by the owner, Jane Doe. The fees charged were $100 plus 13% HST and were paid on account. Supplies remaining in the storeroom are valued at $480. Six (6) months worth of insurance was prepaid on January 1st of this year. Employees are paid $4,000 every two weeks. The last pay day was January 24th. The car is two years old as of January 1st and is amortized using the declining balance method at a rate of 20%. (Hint: subtract the accumulated amortization in the trial balance from the original cost to get the amount you need to calculate the current year’s amortization.) Equipment is amortized using the straight-line method. It is three years old and is expected to last for another seven years (useful life = 10 years). In seven years, it is expected to have a scrap value of $3,000. Take the worksheet for Jane Doe Company for the month ending January 31st of this year. Assignment Part 2 Complete the Classified Balance Sheet using the template. Accounts are presented in alphabetical order and you must place each account in the correct location of the Classified Balance Sheet. The functions to calculate the totals are already in place. Assignment Part 3 You should now complete a closing entry exercise. Instructions: Journalize the closing entries for Ramon’s Legal Services from the worksheet provided. Prepare a Post-closing Trial Balance. The templates are already set up for you. Remember to scroll to the bottom of the worksheet to see the tabs for the templates to complete this exercise.