ALL WORK MUST BE ORIGINAL. NO PLAIGIARISM AND USE RELIABLE RESOURCES AND REFERENCES. QUESTION 1 In a minimum of 175 words, respond to question 1 and at least two additional questions from this list: Identify one concept from the Build Your Proficiency diagnostic from Chapters 3 and 4 that you scored lowest in. How might this concept be important to your personal finances? Why would you want to know more about this? In the Wk 2 Learning Path, watch “Peer to Peer Video: Budgeting in Excel” in WileyPLUS. What is your experience with creating and using a personal budget? If you have been able to stick with one, what has worked for you? If you have not been able to, what would help you create a budget you could use? Have you tracked your expenses to identify variances? If so, what method did you use? If not, what would be the benefit of doing so? In the Wk 2 Learning Path, watch Peer to Peer Videos: “Filling Out Employment Tax Paperwork: Pay Attention and Review Your Paycheck Withholdings Regularly” in WileyPLUS. How can your tax withholding affect your budget or financial goals? In the Wk 2 Learning Path in WileyPLUS, use the Personal Financial Planning Worksheet 3.4: Evaluating Financial Service Providers to compare two financial institutions. What did you find? What is most important to you in this evaluation? QUESTION 2 After having received your 360 Feedback, both written feedback and graphs, as well as watching the 360 Feedback PP Video, answer the following questions in a 200 word assignment. What have you learned? What can you now do differently? What will you change when interacting with others moving forward? How will you implement feedback into your routine moving forward?

Option #1: The Four Steps in the Accounting ProcessYou are operating your accounting firm. Your first client had the following transactions in April 20x7:Borrowed $10,000 from the bank.Purchased $2,250 of computer equipment for cash.Paid $750 cash for this month's rent.Purchased $1,500 of office supplies on credit. It is expected that these supplies will last for 3 months.Billed $500 to customers for services rendered during April.Paid cash for the $1,500 balance owed to the vendor from Transaction 4.Collected $450 cash of the amount billed to the customer in Transaction 5Sold one-half of the equipment purchased in Transaction 2 for $1,125 in cash, with no gain or loss recognized on the sale.Paid $1,000 of the principal from the loan in transaction 1, along with $50 in interest.Required:Use the four steps in the accounting cycle to analyze business transactions, a) Identifying transactions from source documents, b) Analyzing transactions using the accounting equation, c) Recording the journal entry and d) Posting the entry to the ledger to complete the following:Prepare journal entries for each of the above transactions.Post the journal entries to T-accounts and total the accounts.From the T-accounts, prepare an unadjusted trial balance. List expenses in alphabetical order.Use the following chart of accounts names and template:Cash, Capital Stock, Equipment, Accounts Payable, Rent, Supplies, Accounts Receivable, Revenue.Your assignment must include a title page and reference page. Review the grading rubric to understand how you will be graded on this assignment. Module 2 Part 2 Lecture: Double Entry System and Financial Statements for examples related to your Critical Thinking assignment for this week. Reach out to your instructor if you have questions about the assignment.Note: The download the template required for this assignment is located in the Module 2 folder.