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You will have an Excel file for this assignment. Assignment DetailsundefinedOn December 1, 2019, SoccerBox Inc. started operations. The following transactions occurred during December 2019.NOTE: There are no beginning balances-this is a new company.Dec 1Randol Espy invested $80,000 cash in the company for common stock.2SoccerBox purchased soccer equipment for $20,000 cash.2SoccerBox rented an old warehouse for $30,000 cash for the first year’s (December 2019-November 2020) rent.3SoccerBox purchased $500 of office supplies with cash.10SoccerBox paid $12,000 cash for an annual insurance policy.14SoccerBox paid $4,000 cash for the first payroll earned by its employees.24SoccerBox received $85,000 cash from soccer fees paid by parents for a private youth soccer lesson.28SoccerBox paid $4,000 cash for 2 weeks’ salaries earned by its employees.29SoccerBox paid $200 cash for minor repairs to its soccer equipment.30SoccerBox paid $150 cash for this month’s telephone bill.30Dividends of $1,000 cash were paid by SoccerBox to its current shareholders.Using this spreadsheet and the information above, complete the following:Record the journal entries that occurred during the month of December.Prepare an unadjusted trial balance.Create ad

justing journal entries at the end of the year (December 31) based on the following adjustment data:One month’s insurance coverage has expired (refer to the December 10 entry).The company occupied the warehouse space for the month of December (refer to the December 2 entry).At the end of the month, $100 worth of office supplies are still available (refer to the December 3 entry).This month’s depreciation on the soccer equipment is $250.Employees earned $300 of unpaid and unrecorded salaries as of month-end.Prepare an adjusted trial balance.Prepare an income statement, a statement of retained earnings, and a classified balance sheet as of December 31, 2019Grading RubricYour assignment will be graded in accordance with the following criteria:Grading CriteriaPercentageCalculation methods are appropriate, fully explained, and presented in a manner that is easy to understand.90Question responses are substantive, and a clear understanding of material and writer’s message and intent are evident. Position is well-justified; logical flow; examples provided where appropriate.30Structure: proper paragraph format as appropriate for the required assignment deliverable15Mechanical – no spelling, grammatical or punctuation errors15Total150