Account Title Cash Inventory ANN SIMPSON,DESIGNER Unadjusted Trial Balance November 30, 2018 Debit $23,400 Balance Credit $ 60,000 Accounts Receivable 22,000 Office Supplies 5,000 Prepaid Insurance 3,000 Furniture 20,000 Land 24,000 Goodwill 40,000 Accounts Payable $ 19,900 Utilities Payable Unearned Revenue Common Stock Dividends Service Revenue Cost of goods sold Salaries Expense Rent Expense Utilities Expense 600 38,000 100,000 4,000 76,900 25,000 6,000 2,000 1,000 Total $ 235,400 $235,400 Adjusting Entries 1. An inventory of supplies showed $2,000 were used up. 2. The furniture was purchased for $20,000. It has $0 salvage value and a 5 year useful life. One year of depreciation must be recorded. 3. $3,000 of insurance was purchased for 12 months. $700 of insurance was used. 4. Performed $20,000 of services that was paid for in advance 5. On last day of the month, performed $6,000 of services for new customer and will be paid next month 6. Happy cleaners provided $8,000 of cleaning services on the last day of the month. This waas a special yearly clean. They will be paid next month. 7. An inventory count revealed there was $7,000 of inventory shrinkage. This was a larger than usual amount of shrinkage. 8. The company estimates bad debt expense to be 1% of credit sales. Assume all sales are made on credit. 9. A company with net assets of $100,000 was purchased for $140,000 one year ago. The current fair value of the company is 110,000. Perform a goodwill impairment test and record an impairment entry if one is needed. General Ledger (starting with balances from unadjusted trial balance) Cash Accounts Payable Unadj Bal. 23,400 19,900 Unadj Bal. Bal. 23,400 19,900 Bal. Unadj Bal. Accounts Receivable 22,000 Utilities Payable 600 Unadj Bal. Bal. 22,000 600 Bal. Unadj Bal. Office Supplies 5,000 Unearned Revenue Bal. 5,000 Prepaid Insurance Unadj Bal. Bal. 3,000 3,000 Land Dividends Unadj Bal 4,000 Unadj Bal. 24,000 Bal. 24,000 Bal.. Furniture Unadj Bal. 20,000 4,000 Sales or Service Revenue 38,000 Unadj Bal. 38,000 Bal. Common Stock 100,000 Unadj Bal. 100,000 Bal. 76,900 Unadj Bal. Bal. 20,000 76,900 Bal. Undadj Salary Expense 6,000 Utilities Expense Unadj Bal 1,000 Bal. 6,000 Supplies Expense Bal. 1,000 Rent Expense Unadj Bal 2,000 Bal. Bal. 2,000 Depreciation Expense- Furniture Accumulated Depreciation-Furniture Bal. Insurance expense 0 Bal. Cleaning expense 0 Bal. 0 Bal. 0 Cost of goods sold Inventory Unadj Bal. 25,000 Unadj Bal 60,000 Bal. 25,000 Bal. 60,000 Bad Debt Expense Allowance for Doubtful Accounts Unadj Bal. 0 Adj8 0 Bal. 0 Unadj Bal. 0 Bal. Goodwill Impairment Loss Unadj Bal. 40,000 Unadj Bal 0 Bal. 40,000 Bal. 0 1) what is the total debit balance amount on the adjusted trial balance. 2) What is the total stockholders' equity balance on the balance sheet 3) What is the total liabilities and stockholders Equity balance on the balance sheet Note: Do not enter commas or spaces in your answer. Enter any negative numbers without the negative. For example, (10,000) or -10,000 would be entered as 10,000