4-8 ledger accounts

4-9. Using the unadjusted trial balance below (from Appendix E) and the ledger accounts from Problem 4-8, prepare an adjusted trial balance. $ 1 Unadjusted Trial Balance 2 3 Steve and Chris Farmer 4 December 31, 20X1 5 6 1000 Cash $ 203.80 7 1500 Breeding Livestock $ 73,500.00 8 1600 Machinery and Equipment $ 65,000.00 9 1650 Office Equipment and Furniture $ 1,000.00 10 1700 Perennial Crops $ 45,000.00 11 1800 Land, Buildings and improvements $ 470,000.00 12 1910 Leased Assets $ 100,000.00 13 2100 Taxes Payable $ 2,160.00 14 2310 Notes Payable Due within One Year $ 50,000.00 15 2400 Real Notes Payable-Non-Current $ 120,000.00 16 2600 Obligations on Leased Assets $ 76,018.00 17 3100 Retained Capital $ 104,540.00 18 3110 Owner Withdrawals $ 150.00 19 3120 Non-Farm Income $ 100.00 20 3130 Other Capital Contributions/Gifts/Inheritances $ 350,000.00 21 4000 Cash Crop Sales $ 12,600.00 22 4100 Cash Sales of Market Livestock $ 50,900.00 23 4500 Gains (Losses) from Sale of Culled Breeding Livestock $ 250.00 24 5000 Feeder Livestock $ 1,500.00 25 5020 Purchased Feed S 1,000.00 26 6100 Wage Expense $ 1,200.00 27 6110 Payroll Tax Expense $ 129.20 28 6310 Truck and Machinery Hire $ 150.00 29 6520 Herbicides, Pesticides $ 500.00 30 6630 Livestock Supplies, Tools, and Equipment 6700 Insurance $ 75.00 31 6700 Insurance $ 32 6710 Real Estate and Personal Property Taxes 1,200.00 $ 33 8100 Interest Expense 1,300.00 $ 1,200.00 34 8200 Gains (Losses) on Sales of Farm Capital Assets $ 800.00 35 9100 Income Tax Expense $ 36 TOTALS 2,160.00 $ 766,318.00 $ 766,318.00 37 38 39 40 41 7 4-8. Create ledger accounts for the items in the following adjusting journal entries and post the entries to the ledger accounts. 1 2a. Feed Inventory Purchased for Use $ 570.00 3 Change in urchased Filed Inventories $ 570.00 4 b. Crop Inventory Raised for Sale $ 10,000.00 5 Change in Crop Inventory $ 10,000.00 6 C. Feeder Livestock Inventory Purchased for Resale $ 9,050.00 Change in Purchased Feeder Livestock Inventory $ 9,050.00 8 d. Prepaid Expenses $1,000.00 Change in Prepaid Insurance $ 1,000.00 10 e.Depreciation Expense $ 31,000.00 Accumulated Depreciation $ 31,000.00 12 t. Change in Accounts Payable $ 600.00 13 Accounts Payable 14 g Breeding Livestock $ 600.00 $ 2,100.00 Gains/Losses Due to Changes in General Base Values of Breeding Livestock 16 h. Change in Taxes Payable $ 2,100.00 $ 3,600.00 Non-Current Deferred Taxes 18 $ 2,100.00 9 11 15 17