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four eat Crystasy tasil - tatai Temelut you wonde Page Layout Data Acre Xu Com at bod BI Cd Chall One va G M Adustments Version 1 Adatod TH Dec 31, 2020 DY CH comment 2000 Thr Retained Earrings Der 31, 2020 Dr CA 5 Cash 5 Accounts receivable 1 Alowance for bad debts eroy Prepudspens 10 Egement 11 Accumulated depreciation 12 Accounts payat come tax patte 14 Common stock Rodamngs 11119 IT 10 15 Salese D No es Undsted TB Dec 31, 2020 De CI 79,90 00 000 2.000 38.500 13200 214.000 40.000 42.000 4000 20.000 180.000 130.000 21 2000 4.000 24 Freight 2. Purchase Operating expenses 31000 103000 6 000 2340 2 eight ou Dopiecution Badoit expense Exchange gamtos hosion for TIN 777900 w DELL 1. Emphasis Heading 1 1 Normal Strong Subtitle Title 1 No Spac. Subtle Em... h Styles The Unadjusted Trial Balance columns of the partial worksheet which follows the exam includes the activity for 2020 but does not include any adjusting entries. The following information is given to you for the purpose of making year end adjusting entries. The tax rate for the current and prior periods is 30% You may need to add accounts to the worksheet, space is provided for that purpose. Add any new accounts in the approximately correct location. Please number your worksheet adjustments to correspond with the information below. Operating expenses such as insurance, advertising wages and maintenance are included in a single "operating expense" account. Here is the adjustment information: 1 Prepaid expenses include a one year insurance contract in the amount of $1,800 pard in July of 2020. It covers the period August 1, 2020 to July 31, 2021 2. A computer repair for $2,000 was made in December 2019, but the bill was not received until February of 2020 at which time it was recorded as an expense. 3. The equipment was purchased on Jan 1, 2018 and is depreciated on a straight-line basis over 10 years with a $15,000 salvage value. 4. Bad debts expense was recorded each month as a percent of sales and several accounts were written off during the year. A year end aging schedule requires an allowance of $4,000. 5. You received product that was shipped to you in December of 2020. It was purchased on credit The manufacturer has given you a price reduction of $500 due to surface blemishes. The bill has not yet been paid 6. The ending inventory is valued at $22,000. Prepare the cost of goods sold account. 7. The Accounts Payable includes a bill for 5.000 Euros that was recorded as a purchase when the cost of a Euro was $1.35. The bill remains unpaid at the end of the year. On Dec 31, 2020, a Euro can be purchased for $1.42. 8. Dividends in the amount of $10,000 were declared on Dec. 31, 2020 but will not be paid until January 2021 No entry has been recorded Required: Complete the attached worksheet Enter the adjustments and key them to agree with the information number. Add any accounts you need in the appropriate location Calculate and enter the balances for the adjusted trial balance. Complete the income statement and retained earnings Make no adjustments directly to beginning retained earnings, use nominal accounts for any adjustments to retained earnings four eat Crystasy tasil - tatai Temelut you wonde Page Layout Data Acre Xu Com at bod BI Cd Chall One va G M Adustments Version 1 Adatod TH Dec 31, 2020 DY CH comment 2000 Thr Retained Earrings Der 31, 2020 Dr CA 5 Cash 5 Accounts receivable 1 Alowance for bad debts eroy Prepudspens 10 Egement 11 Accumulated depreciation 12 Accounts payat come tax patte 14 Common stock Rodamngs 11119 IT 10 15 Salese D No es Undsted TB Dec 31, 2020 De CI 79,90 00 000 2.000 38.500 13200 214.000 40.000 42.000 4000 20.000 180.000 130.000 21 2000 4.000 24 Freight 2. Purchase Operating expenses 31000 103000 6 000 2340 2 eight ou Dopiecution Badoit expense Exchange gamtos hosion for TIN 777900 w DELL 1. Emphasis Heading 1 1 Normal Strong Subtitle Title 1 No Spac. Subtle Em... h Styles The Unadjusted Trial Balance columns of the partial worksheet which follows the exam includes the activity for 2020 but does not include any adjusting entries. The following information is given to you for the purpose of making year end adjusting entries. The tax rate for the current and prior periods is 30% You may need to add accounts to the worksheet, space is provided for that purpose. Add any new accounts in the approximately correct location. Please number your worksheet adjustments to correspond with the information below. Operating expenses such as insurance, advertising wages and maintenance are included in a single "operating expense" account. Here is the adjustment information: 1 Prepaid expenses include a one year insurance contract in the amount of $1,800 pard in July of 2020. It covers the period August 1, 2020 to July 31, 2021 2. A computer repair for $2,000 was made in December 2019, but the bill was not received until February of 2020 at which time it was recorded as an expense. 3. The equipment was purchased on Jan 1, 2018 and is depreciated on a straight-line basis over 10 years with a $15,000 salvage value. 4. Bad debts expense was recorded each month as a percent of sales and several accounts were written off during the year. A year end aging schedule requires an allowance of $4,000. 5. You received product that was shipped to you in December of 2020. It was purchased on credit The manufacturer has given you a price reduction of $500 due to surface blemishes. The bill has not yet been paid 6. The ending inventory is valued at $22,000. Prepare the cost of goods sold account. 7. The Accounts Payable includes a bill for 5.000 Euros that was recorded as a purchase when the cost of a Euro was $1.35. The bill remains unpaid at the end of the year. On Dec 31, 2020, a Euro can be purchased for $1.42. 8. Dividends in the amount of $10,000 were declared on Dec. 31, 2020 but will not be paid until January 2021 No entry has been recorded Required: Complete the attached worksheet Enter the adjustments and key them to agree with the information number. Add any accounts you need in the appropriate location Calculate and enter the balances for the adjusted trial balance. Complete the income statement and retained earnings Make no adjustments directly to beginning retained earnings, use nominal accounts for any adjustments to retained earnings