ACCOUNTS AND BALANCES Cash $4,800 Dr. Accounts Receivable $1,700 Dr. Allowance f

Question

ACCOUNTS AND BALANCES Cash $4,800 Dr. Accounts Receivable $1,700 Dr. Allowance for Doubtful Accounts $43 Cr. Merchandise Inventory $10,400 Dr. Supplies $1,110 Dr Prepaid Advertising $1.080 Dr Store Equipment $7,560 Dr Accumulated Depreciation-StoreEquip $1410 Cr Office equipment $1,410 Cr Accumulated Depreciation-OfficeEquip $190 Cr Accounts Payable $2,535 Cr Social Security Tax Payable $340 Cr Medicare Tax Payable $79 Cr Federal Unemployment Tax Payable    State Unemployment Tax Payable Salaries Payable Beth Argo, Capital $21,015 Cr Beth Argo, Drawing $19,100 Dr Sales $85,548 Cr Sales Returns and Allowances $1,010 Dr Purchases. $43,700 Dr Purchases Returns and Allowances. $340 Cr Rent Expense. $5,100 Dr Telephone Expense $500 Dr Salaries Expense $13,200 Dr Payroll Taxes Expense $1,180 Dr. Income Summary Supplies Expense Advertising Expense Depreciation Expense-Store Equip Depreciation Expense-Office Equip Uncollectible Account Expense

REQUIRED: 1. Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 2019.
2. Enter the adjustments above in the Adjustments section of the worksheet.
3. Complete the Worksheet
ANALYZE: By what amount were the assets of the business affected by the adjustments?

*I flipped some images to be easier to read. Sorry for the duplicates*
Please and Thank you nment Saved Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Advertising Store Equipment Accumulated Depreciation-Store Equipment Office Equipment Accumulated Depreciation-office Equipment Accounts Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Salaries Payable Beth Argo, Capital Beth Argo, Draving Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Income Summary Supplies Expense Advertising Expense Depreciation Expense-Store Equipment Depreciation Expense-office Equipment Uncollectible Accounts Expense $ 4,800 Dr. 1,700 Dr. 43 Cr. 10,400 Dr. 1,110 Dr. 1,080 Dr. 7,560 Dr 1,410 Cr. 1,060 Dr. 190 Cr. 2,535 Cr 340 Cr. 79 Cr. 21,015 Cr. 19,100 Dr. 85,548 Cr. 1,010 Dr 43,700 Dr. 340 Cr. 5,100 Dr. 500 Dr. 13,200 Dr. 1,180 Dr. ADJUSTMENTS Prev 1 of 2 0

Explanation / Answer

Working:

Working:

The Green Thumb Gardener Worksheet Year ended December 31, 2019 Account Name Trial Balance Adjustments Adjusted Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 4800 4800 4800 Accounts Receivable 1700 1700 1700 Allowance for doubtful accounts 43 130 173 173 Merchandise Inventory 10400 43700 42679 11421 11421 Supplies 1110 880 230 230 Prepaid Advertising 1080 540 540 540 Stores Equipment 7560 7560 7560 Accumulated Depreciation - Stores Equipment 1410 1410 2820 2820 Office Equipment 1060 1060 1060 Accumulated Depreciation - Office Equipment 190 190 380 380 Accounts Payable 2535 2535 2535 Social Security Tax Payable 340 108 448 448 Medicare Tax Payable 79 25 104 104 Federal Unemployment Tax Payable 10 10 10 State Unemployment Tax Payable 94 94 94 Salaries Payable 0 0 Beth Argo, Capital 21015 21015 20747 Beth Argo, Drawing 19100 19100 Sales 85548 85548 85548 Sales Returns and Allowances 1010 1010 1010 Purchases 43700 43700 0 Purchase Returns and Allowances 340 340 0 Rent Expense 5100 5100 5100 Telephone Expense 500 500 500 Salaries Expense 13200 13200 13200 Payroll Taxes 1180 237 1417 1417 Cost of goods sold 42339 42339 42339 Supplies Expense 880 880 880 Advertising Expense 540 540 540 Depreciation Expense - Stores Equipment 1410 1410 1410 Depreciation Expense - Office Equipment 190 190 190 Uncollectible Accounts Expense 130 130 130 Totals 111500 111500 89766 89766 113127 113127 66716 85548 27311 27311 Net Income 18832 Grand Total 85548 85548 27311 27311

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