Can you help me understand this Accounting question?
The 3 problems relate to the following:
Problem #1 (first tab of the excel spreadsheet) – Preparing journal entries.
Problem #2 (second tab of the excel spreadsheet) – Preparing adjusting entries.
Problem #3 (third tab of the excel spreadsheet) – Preparing 3 financial statements namely the Income Statement, Balance Sheet, and Statement of Retained Earnings.
Make sure to save your solutions as an.xlsx file type with your name in the file name
Hint: Please note contained within Problem #1 (preparing journal entries) there is an entry required that is a “compound journal entry”.