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1. The one adjusting entry that has not yet been recorded isincome tax expense for the month of September.  Determinethis entry and add it to the trial balance.  Assume thecompany has an effective tax rate of 35%.
2. Prepare each financial statement, in good form, usingExcel.   Good form means you should have anappropriate three-part heading, no abbreviations, and dollar signsand underscores in appropriate places.  You should beproud to hand these financial statements to yourbanker.  Use the financial statements in the AccountingCycle Review PowerPoint file from the first day of class as a guidewith the following modifications:

Superior Office Supply
General Ledger Trial Balance
As of September 30, 2019
		Balance
Account #	Description	Dr.	Cr.
1010	Savings Account	$70,852.50
1020	Checking Account	25,684.65
1030	Certificate of Deposit	10,000.00
1100	Accounts Receivable	212,561.58
1150	Allowance for Doubtful Accounts		$14,500.00
1200	Inventory	179,854.65
1400	Prepaid Expenses	6,200.00
1500	Land	160,000.00
1550	Building	511,000.00
1600	Equipment	1,050,657.00
1900	Accumulated Depreciation - Building & Equipment		329,359.00
2000	Accounts Payable		232,421.24
2310	Sales Tax Payable		19,685.32
2330	Federal Payroll Taxes Payable		16,834.56
2340	FUTA Payable		8,880.76
2360	SUTA Payable		2,225.64
2380	Income Taxes Payable		-
2500	Dividends Payable		45,000.00
2550	Notes Payable		15,667.34
2600	Current Portion of Long Term Debt		58,695.00
2700	Long Term Debt		338,654.52
3910	Common Stock		150,000.00
3930	Retained Earnings		278,527.86
3980	Dividends Declared	45,000.00
4000	Gross Sales Revenue		2,369,320.73
4050	Sales Discounts	265,889.43
5000	Cost of Goods Sold	910,978.54
6000	Salaries and Wage Expense	245,853.13
6100	Payroll Tax Expense	20,813.35
6200	Advertising Expense	134,186.32
6300	Bad Debt Expense	21,148.71
7000	Interest Expense	24,695.84
8000	Gain (loss) on Sale of Equipment		15,603.73
9000	Income Tax Expense	-
		$3,895,375.70	$3,895,375.70