8. On the CJE worksheet, prepare the closing entries in good form for Grizzlies, Inc. at the end of December 31, 2019. Again, all numbers should be cell references or formulas, not manually entered.

Grizzlies, Inc. Adjusting Journal Entries For the Year Ended December 31, 2019 Account Title Dr. Interest Expense 240 Interest Payable Item Cr. a. 240 b. 1,600 Rent Expense Prepaid Rent 1,600 C. 1,100 Shop Supplies Expense Shop Supplies 1,100 d. 2,500 Store Supplies Expense Store Supplies 2,500 e. 4,800 Insurance Expense Prepaid Insurance 4,800 f. 12,000 Unearned Consulting Revenue Consulting Revenue 12,000 g. 14,400 Unearned Rent Revenue Rent Revenue 14,400 h. Office Salaries Expense Sales Salaries Expense Salaries Payable 3,300 9,900 13,200 i. 14,400 Depreciation Expense - Store Equipment Accumulated Depreciation - Store Equipment 14,400 j. 9,600 Depreciation Expense - Office Equipment Accumulated Depreciation - Office Equipment 9,600 k. Utilities Expense-Office Utilities Expense-Store Utilities Payable 110 990 1,100 Income Stmt Dr. Cr. Balance Sheet Dr. Cr. 1,100 Grizzlies, Inc. Worksheet For the Year Ended December 31, 2019 Unadjusted Adjusted Account Title Trial Balance Adjustments Trial Balance Dr. Cr. Dr. Cr. Dr. Cr. Cash 36.000 Accounts Receivable 277,000 Inventory 242,500 Prepaid Insurance 12,800 4.800 Prepaid Rent 4,000 1,600 Store Supplies 300 2.500 Shop Supplies 4.400 1,100 Store Equipment 120.000 Accumulated Depreciation - Store Equipment 12,000 14,400 Office Equipment 32,000 Accumulated Depreciation - Office Equipment 2,400 9.600 Accounts Payable 49,000 Salaries Payable 13,200 Interest Payable 240 Utilities Payable Uneamed Consulting Revenue 16,000 12,000 Uneamed Rent Revenue 14.400 14,400 Note Payable 12.000 Common Stock 300.000 Retained Earnings 189 350 Dividends 13,200 Sales Revenue 1,581,800 Consulting Revenue 12.000 Rent Revenue 14.400 Interest Revenue Cost of Goods Sold 975.000 Sales Salaries Expense 275,000 9.900 Office Salaries Expense 150,000 3,300 Miscellaneous Administrative Expense 5,650 Miscellaneous Selling Expense 13,900 Depreciation Expense - Store Equipment 14.400 Depreciation Expense - Office Equipment 9.600 Store Supplies Expense 15,200 2.500 Shop Supplies Expense 1,100 Rent Expense 1,600 Insurance Expense 4.800 Interest Expense 240 Utilities Expense-Store 990 Utilities Expense-Office 110 2,176,950 2,176,950 74,940 74,940 2,215,490 2,215,490 73,440 73,440 Net Income | Activate Windows Go to Settings te Adjusting JE Column Totals 73,440 Adjusted Trial Balance Column Totals 2,215,490 Gross Profit 606,800 Net Income 128,410 Ending Balance in Retained Earnings 304,560 Total Assets on Balance Sheet 685,300 Ending Balance in Income Summary -0