I need help with an assignment that is due. It has to be done in Excel.  Balance Sheet and Single-Step Income Statement Objective To prepare a comprehensive balance sheet and Single-Step Income Statement presented in good form and derived from a list of various accounts. The amounts relative to each account will be given and the student will learn to determine whether an account is a balance sheet account or a temporary account that belongs to the income statement. The accounts will be comprised of all the various subgroupings in the balance sheet (Current Assets, Investment, Fixed Assets, Intangibles, and Other Assets, as well as Current Liabilities, Long-term Liabilities, and the Equity sections). Guidelines Obtain the list of accounts under the title of Course Project in Doc Sharing Determine which accounts belong to the Balance Sheet and which accounts belong to the Income Statement Determine to which subgroup each account belongs Arrange the accounts in proper order and functionality Prepare a Comprehensive Balance Sheet in good form Prepare a Single-step Income Statement in good form Grading Rubrics Category Points % Description Making proper selection of accounts relative to the balance sheet or the income statement  30  20 From the provided listing of accounts determine which accounts are Balance Sheet accounts and which accounts are Income Statement accounts. Putting the accounts into the proper subgroup according to functionality 15 10 Each account belongs to a particular subgroup. The student is to determine which subgroup the account belongs. This should be done according to functionality. Preparing the balance sheet in good form 45  30 Proper form is important in the preparation of the balance sheet. Examples can be found in the text. Preparing the income statement in good form 45  30 Proper form is important in the preparation of the income statement. Examples can be found in the text. Ensuring that the Balance Sheet and the Income Statement have been computed correctly 15  10 It is important that the balance sheet and income statement are computed correctly and have the correct totals. An incorrect total in any part of the financials can invalidate the entire project. Total  150 100 A quality project will meet or exceed all of the above requirements. Course Project Listing of Accounts: Accounts Payable $197,532 Account Receivable 165,824 Accrued Interest on Notes Payable 500 Accrued Liabilities 9,500 Accumulated Depreciations 341,200 Additional Paid-in Capital 37,500 Administrative Expenses 350,000 Allowance for doubtful accounts 1,850 Building 975,800 Cash 42,485 Common Stock 400,000 Copyrights 105,000 Cost of Goods Sold 1,000,000 Customer Deposits (expected to be paid next year) 420 Deposits with Vendors (based on a long-term purchase contract) 50,000 Depreciation Expense (40% - Selling, 60% - Administrative) 100,000 Dividend Income 30,000 Goodwill 100,0.

1. I need help with an assignment that is due. It has to be done in
Excel.
Balance Sheet and Single-Step Income Statement
Objective
To prepare a comprehensive balance sheet and Single-Step
Income Statement presented in good form and derived from a
list of various accounts. The amounts relative to each account
will be given and the student will learn to determine whether an
account is a balance sheet account or a temporary account that
belongs to the income statement. The accounts will be
comprised of all the various subgroupings in the balance sheet
(Current Assets, Investment, Fixed Assets, Intangibles, and
Other Assets, as well as Current Liabilities, Long-term
Liabilities, and the Equity sections).
Guidelines
Obtain the list of accounts under the title of Course Project in
Doc Sharing
Determine which accounts belong to the Balance Sheet and
which accounts belong to the Income Statement
Determine to which subgroup each account belongs
Arrange the accounts in proper order and functionality
Prepare a Comprehensive Balance Sheet in good form
Prepare a Single-step Income Statement in good form
Grading Rubrics
Category
Points
%

2. Description
Making proper selection of accounts relative to the balance
sheet or the income statement
30
20
From the provided listing of accounts determine which accounts
are Balance Sheet accounts and which accounts are Income
Statement accounts.
Putting the accounts into the proper subgroup according to
functionality
15
10
Each account belongs to a particular subgroup. The student is to
determine which subgroup the account belongs. This should be
done according to functionality.
Preparing the balance sheet in good form
45
30
Proper form is important in the preparation of the balance sheet.
Examples can be found in the text.
Preparing the income statement in good form
45
30
Proper form is important in the preparation of the income
statement. Examples can be found in the text.
Ensuring that the Balance Sheet and the Income Statement have
been computed correctly
15
10
It is important that the balance sheet and income statement are
computed correctly and have the correct totals. An incorrect
total in any part of the financials can invalidate the entire
project.

3. Total
150
100
A quality project will meet or exceed all of the above
requirements.
Course Project Listing of Accounts:
Accounts Payable
$197,532
Account Receivable
165,824
Accrued Interest on Notes Payable
500
Accrued Liabilities
9,500
Accumulated Depreciations
341,200
Additional Paid-in Capital
37,500
Administrative Expenses
350,000

4. Allowance for doubtful accounts
1,850
Building
975,800
Cash
42,485
Common Stock
400,000
Copyrights
105,000
Cost of Goods Sold
1,000,000
Customer Deposits
(expected to be paid next year)
420
Deposits with Vendors

5. (based on a long-term purchase contract) 50,000
Depreciation Expense
(40% - Selling, 60% - Administrative)
100,000
Dividend Income
30,000
Goodwill
100,000
Income Tax Expense
82,250
Income Taxes Payable
62,520
Interest Revenue
25,000
Inventories
499,493
Investments in Warren Co.

6. 87,500
Land
125,000
Mortgage Payable ($1,500 per month)
308,000
Notes Payable to Banks
50,000
Notes Receivable (due next year)
23,000
Patents
125,000
Preferred Stock, 7%
300,000
Prepaid Expenses
16,252
Rental Income
50,000
Retained Earnings

7. 162,582
Selling Expenses
300,000
Salaries Payable
52,000
Sales Discounts
120,000
Sales Revenue
2,000,000
Securities (available for sale) – at fair
Market value
28,250
Trademarks
80,000
Twenty-year, 12% Bonds, due 1/1/2013
500,000