Lopez Paint Company's trial balance (at the top of page 213) pertains to December 31 of the current year.

Additional data at December 31, 19XX:

a. Insurance expense for the year, \(\$ 6,090\).

b. Store fixtures have an estimated useful life of 10 years and are expected to be worthless when they are retired from service.

c. Accrued salaries at December \(31, \$ 1,260\).

d. Accrued interest expense at December \(31, \$ 870\).

e. Store supplies on hand at December \(31, \$ 760\).

f. Inventory on hand at December 31, \(\$ 99,650\).

\section*{Required}
Complete Lopez's accounting work sheet for the year ended December 31 of the current year.

Transcribed Image Text:

LOPEZ PAINT COMPANY TRIAL BALANCE DECEMBER 31, 19XX Cash... $ 2,910 Accounts receivable. 6,560 Inventory.. 101,760 Store supplies. 1,990 Prepaid insurance.. 3,200 Store fixtures. 63,900 Accumulated depreciation. $ 37,640 Accounts payable. 29,770 Salary payable Interest payable.. Note payable, long-term 37,200 Common stock.. 10,000 Retained earnings. 53,120 Dividends. 36,300 Sales revenue. 286,370 Cost of goods sold 161,090 Salary expense. 46,580 Rent expense. 14,630 Utilities expense. 6,780 Depreciation expense.. Insurance expense. 5,300 Store supplies expense. Interest expense 3,100 Total $454,100 $454,100