Are my adjusting entries correct I cannot get all my columns to balance Baron Flowers, Inc Unadjusted Trial Balance December 31, 2018 Dec 31, 2018 Debit Credit Cash $ 245,650 Accounts receivable 12 31 17 116,200 Allowance for doubtful accounts 12 31 17 $ 17,800 Inventory 12 31 17 62,000 Furniture and fixtures 118,200 Accumulated depreciation 12 31 17 32,400 Accounts payable 12 31 17 17,000 Interest payable 12 31 17 2,250 Notes payable 50,000 Common stock, $10 par value 20,000 Additional paid in capital 30,000 Retained earnings 119,600 Sales revenue 1,008,000 Purchases 405,100 Land improvement expense 50,000 Salaries expense 174,000 Payroll taxes 12,400 Income tax expense 45,000 Insurance expense 8,700 Rent expense 34,200 Utilities expense 12,600 Travel and entertainment expense 13,000 TOTAL $ 1,297,050 $ 1,297,050 Baron has developed plans to expand into the wholesale flower market and is in the process of negotiating a bank loan to finance the expansion The bank is requesting 2018 financial statements prepared on the accrual basis of accounting from Baron During the course of a review engagement, you, the CPA hired as Barons accountant, obtained the following additional information Amounts due from customers totaled $142,000 at 12 31 18 An analysis of the above receivables revealed that $22,000 is estimated to be uncollectible in 2018 Unpaid invoices for flower purchases totaled $20,500 and $17,000 at December 31, 2018 and December 31, 2017, respectively The inventory totaled $94,000 based on a physical count of the goods at December 31, 2018 The inventory was priced at cost, which approximates market value On May 1, 2018 Baron paid $8,700 to renew its annual comprehensive insurance coverage for one year The entire amount was recorded to insurance expense Baron rents retail space that includes an adjacent parking lot The parking lot is in rough shape and Baron agrees to pave and fence the lot at a cost of $50,000 The improvements were completed on April 2, 2018, and have an estimated useful life of 15 years Depreciation on furniture and fixtures was $12,000 for 2018 Accrued expenses at December 31, 2018 and 2017 were as follows Due to an oversight, the CPA hired last year did not accrue the expenses at the end of 2017 and failed to record them on the income tax return for 2017 Baron is being sued for $100,000 The coverage under the comprehensive insurance policy is limited to $50,000 Barons attorney believes that an unfavorable outcome is probable and that a reasonable settlement is $75,000 On December 29, 2018, Baron advanced $5,000 to a salesperson for a company sales trip to New York City during the first week of January It was recorded to the Travel and Entertainment expense account All employees are paid weekly on Saturday The average payroll is $3,600 for a 6 day work week Monday through Saturday Employees were paid last Saturday, December 29, 2018 for the week ended December 22, 2018 Baron Flowers has a policy of giving all employees paid holidays for Christmas day and the following day Barons has made estimated income tax payments of $15,000 per quarter for the first three quarters of 2018 Barons estimated tax rate is 30 Baron was issued a $50,000 year note payable on April 1, 2017 The note bears interest at 6 Principle and interest are due at maturity on 04 01 20 Included in cash is $25,000 that has been set aside in an escrow account for future plant expansion There was no change in stock in 2018 Baron Flowers, Inc Ten Column Worksheet December, 31 2018 ADJUSTED UNADJUSTED ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Debit Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash $245,650 13 $25,000 $220,650 $220,650 116,200 Accounts receiable 12 31 17 1 $25,800 142000 142000 $39,800 Allowance for doubtful acccounts 12 31 17 $17,800 2 $22,000 $39,800 Inventory 12 31 17 Escrow account 62,000 4 32000 94,000 94,000 25000 13 25000 25000 Prepaid Insurance Insurance liability 5 8700 8700 8 25000 25000 Payroll advance liability S000 5000 Furniture and fixtures 118,200 118,200 118,200 Accumulated depreciation 12 31 17 Accounts payable 12 31 17 Utilities payable 32,400 6 12000 44,400 44,400 17,000 3500 3 20,500 20,500 600 7 600 600 Salaries payable Payroll taxes payable 10 3600 3600 3600 7 200 200 200 Income tax payable 15000 15000 15000 11 Interest payable 12 31 17 Interest payable 12 31 18 Notes Payable Common stock, $10 par value Additional paid in capital Retained earnings 2,250 2,250 2,250 3000 12 3000 3000 50,000 50,000 50,000 20,000 20,000 20,000 30,000 30,000 30,000 119,600 119,600 119,600 Sales revenue 1,008,000 25800 1,033,800 1,033,800 Purchases 405,100 3 3500 408,600 Land improvement expense Salaries expense 50,000 50,000 174,000 10 3600 177,600 12,400 Payroll taxes 7 200 12,200 Income tax expense 45,000 11 15000 60,000 Insurance expense 8,700 8700 17,400 Rent expense 34,200 34,200 13,200 18,000 Utilities expense 12,600 7 600 Travel and entertainment expense 13,000 5000 Bad debt expense 22,000 22,000 Interest expense 12 3,000 3,000 Depreciation expense Lawsuit expense Cost of goods sold 6 12,000 12,000 8 25,000 25,000 4 32000 32000 TAL $1,297,050 $1,297,050 $181,000 $181,000 $1,453,050 $1,453,050 1,003,400 1,033,800 $599,850 $348,550 Baron Flowers, Inc Ten Column Worksheet December, 31 2018 ADJUSTED UNADJUSTED ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Debit Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash $245,650 13 $25,000 $220,650 $220,650 116,200 Accounts receiable 12 31 17 1 $25,800 142000 142000 $39,800 Allowance for doubtful acccounts 12 31 17 $17,800 2 $22,000 $39,800 Inventory 12 31 17 Escrow account 62,000 4 32000 94,000 94,000 25000 13 25000 25000 Prepaid Insurance Insurance liability 5 8700 8700 8 25000 25000 Payroll advance liability S000 5000 Furniture and fixtures 118,200 118,200 118,200 Accumulated depreciation 12 31 17 Accounts payable 12 31 17 Utilities payable 32,400 6 12000 44,400 44,400 17,000 3500 3 20,500 20,500 600 7 600 600 Salaries payable Payroll taxes payable 10 3600 3600 3600 7 200 200 200 Income tax payable 15000 15000 15000 11 Interest payable 12 31 17 Interest payable 12 31 18 Notes Payable Common stock, $10 par value Additional paid in capital Retained earnings 2,250 2,250 2,250 3000 12 3000 3000 50,000 50,000 50,000 20,000 20,000 20,000 30,000 30,000 30,000 119,600 119,600 119,600 Sales revenue 1,008,000 25800 1,033,800 1,033,800 Purchases 405,100 3 3500 408,600 Land improvement expense Salaries expense 50,000 50,000 174,000 10 3600 177,600 12,400 Payroll taxes 7 200 12,200 Income tax expense 45,000 11 15000 60,000 Insurance expense 8,700 8700 17,400 Rent expense 34,200 34,200 13,200 18,000 Utilities expense 12,600 7 600 Travel and entertainment expense 13,000 5000 Bad debt expense 22,000 22,000 Interest expense 12 3,000 3,000 Depreciation expense Lawsuit expense Cost of goods sold 6 12,000 12,000 8 25,000 25,000 4 32000 32000 TAL $1,297,050 $1,297,050 $181,000 $181,000 $1,453,050 $1,453,050 1,003,400 1,033,800 $599,850 $348,550

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Are my adjusting entries correct? I cannot get all my columns to balance. Baron Flowers, Inc. Unadjusted Trial Balance December 31, 2018 Dec 31, 2018

Are my adjusting entries correct? I cannot get all my columns to balance.

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Baron Flowers, Inc.
Unadjusted Trial Balance
December 31, 2018

	Dec 31, 2018
	Debit	Credit
Cash	$ 245,650
Accounts receivable - 12.31.17	116,200
Allowance for doubtful accounts - 12.31.17		$ 17,800
Inventory - 12.31.17	62,000
Furniture and fixtures	118,200
Accumulated depreciation - 12.31.17		32,400
Accounts payable - 12.31.17		17,000
Interest payable -12.31.17		2,250
Notes payable		50,000
Common stock, $10 par value		20,000
Additional paid-in capital		30,000
Retained earnings		119,600
Sales revenue		1,008,000
Purchases	405,100
Land improvement expense	50,000
Salaries expense	174,000
Payroll taxes	12,400
Income tax expense	45,000
Insurance expense	8,700
Rent expense	34,200
Utilities expense	12,600
Travel and entertainment expense	13,000
TOTAL	$ 1,297,050	$ 1,297,050

Baron has developed plans to expand into the wholesale flower market and is in the process of negotiating a bank loan to finance the expansion. The bank is requesting 2018 financial statements prepared on the accrual basis of accounting from Baron. During the course of a review engagement, you, the CPA hired as Barons accountant, obtained the following additional information:

Amounts due from customers totaled $142,000 at 12.31.18.
An analysis of the above receivables revealed that $22,000 is estimated to be uncollectible in 2018.
Unpaid invoices for flower purchases totaled $20,500 and $17,000 at December 31, 2018 and December 31,

2017, respectively.
The inventory totaled $94,000 based on a physical count of the goods at December 31, 2018. The inventory was

priced at cost, which approximates market value.
On May 1, 2018 Baron paid $8,700 to renew its annual comprehensive insurance coverage for one year. The

entire amount was recorded to insurance expense.
Baron rents retail space that includes an adjacent parking lot. The parking lot is in rough shape and Baron agrees

to pave and fence the lot at a cost of $50,000. The improvements were completed on April 2, 2018, and have an

estimated useful life of 15 years. Depreciation on furniture and fixtures was $12,000 for 2018.
Accrued expenses at December 31, 2018 and 2017 were as follows:

Due to an oversight, the CPA hired last year did not accrue the expenses at the end of 2017 and failed to record

them on the income tax return for 2017.
Baron is being sued for $100,000. The coverage under the comprehensive insurance policy is limited to $50,000.

Barons attorney believes that an unfavorable outcome is probable and that a reasonable settlement is $75,000.
On December 29, 2018, Baron advanced $5,000 to a salesperson for a company sales trip to New York City

during the first week of January. It was recorded to the Travel and Entertainment expense account.
All employees are paid weekly on Saturday. The average payroll is $3,600 for a 6 day work week Monday

through Saturday. Employees were paid last Saturday, December 29, 2018 for the week ended December 22,

2018. Baron Flowers has a policy of giving all employees paid holidays for Christmas day and the following day.
Barons has made estimated income tax payments of $15,000 per quarter for the first three quarters of 2018.

Barons estimated tax rate is 30%.
Baron was issued a $50,000 year note payable on April 1, 2017. The note bears interest at 6%. Principle and

interest are due at maturity on 04.01.20.
Included in cash is $25,000 that has been set aside in an escrow account for future plant expansion.
There was no change in stock in 2018.

Baron Flowers, Inc Ten Column Worksheet December, 31 2018 ADJUSTED UNADJUSTED ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Debit Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash $245,650 13 $25,000 $220,650 $220,650 116,200 Accounts receiable 12.31.17 1 $25,800 142000 142000 $39,800 Allowance for doubtful acccounts 12.31.17 $17,800 2 $22,000 $39,800 Inventory-12.31.17 Escrow account 62,000 4 32000 94,000 94,000 25000 13 25000 25000 Prepaid Insurance Insurance liability 5 8700 8700 8 25000 25000 Payroll advance liability S000 5000 Furniture and fixtures 118,200 118,200 118,200 Accumulated depreciation-12.31.17 Accounts payable 12.31.17 Utilities payable 32,400 6 12000 44,400 44,400 17,000 3500 3 20,500 20,500 600 7 600 600 Salaries payable Payroll taxes payable 10 3600 3600 3600 7 200 -200 -200 Income tax payable 15000 15000 15000 11 Interest payable 12.31.17 Interest payable - 12.31.18 Notes Payable Common stock, $10 par value Additional paid-in capital Retained earnings 2,250 2,250 2,250 3000 12 3000 3000 50,000 50,000 50,000 20,000 20,000 20,000 30,000 30,000 30,000 119,600 119,600 119,600 Sales revenue 1,008,000 25800 1,033,800 1,033,800 Purchases 405,100 3 3500 408,600 Land improvement expense Salaries expense 50,000 50,000 174,000 10 3600 177,600 12,400 Payroll taxes 7 -200 12,200 Income tax expense 45,000 11 15000 60,000 Insurance expense 8,700 8700 17,400 Rent expense 34,200 34,200 13,200 18,000 Utilities expense 12,600 7 600 Travel and entertainment expense 13,000 5000 Bad debt expense 22,000 22,000 Interest expense 12 3,000 3,000 Depreciation expense Lawsuit expense Cost of goods sold 6 12,000 12,000 8 25,000 25,000 4 32000 32000 TAL $1,297,050 $1,297,050 $181,000 $181,000 $1,453,050 $1,453,050 1,003,400 1,033,800 $599,850 $348,550 Baron Flowers, Inc Ten Column Worksheet December, 31 2018 ADJUSTED UNADJUSTED ADJUSTMENTS INCOME STATEMENT BALANCE SHEET Debit Debit Credit Credit Debit Credit Debit Credit Debit Credit Cash $245,650 13 $25,000 $220,650 $220,650 116,200 Accounts receiable 12.31.17 1 $25,800 142000 142000 $39,800 Allowance for doubtful acccounts 12.31.17 $17,800 2 $22,000 $39,800 Inventory-12.31.17 Escrow account 62,000 4 32000 94,000 94,000 25000 13 25000 25000 Prepaid Insurance Insurance liability 5 8700 8700 8 25000 25000 Payroll advance liability S000 5000 Furniture and fixtures 118,200 118,200 118,200 Accumulated depreciation-12.31.17 Accounts payable 12.31.17 Utilities payable 32,400 6 12000 44,400 44,400 17,000 3500 3 20,500 20,500 600 7 600 600 Salaries payable Payroll taxes payable 10 3600 3600 3600 7 200 -200 -200 Income tax payable 15000 15000 15000 11 Interest payable 12.31.17 Interest payable - 12.31.18 Notes Payable Common stock, $10 par value Additional paid-in capital Retained earnings 2,250 2,250 2,250 3000 12 3000 3000 50,000 50,000 50,000 20,000 20,000 20,000 30,000 30,000 30,000 119,600 119,600 119,600 Sales revenue 1,008,000 25800 1,033,800 1,033,800 Purchases 405,100 3 3500 408,600 Land improvement expense Salaries expense 50,000 50,000 174,000 10 3600 177,600 12,400 Payroll taxes 7 -200 12,200 Income tax expense 45,000 11 15000 60,000 Insurance expense 8,700 8700 17,400 Rent expense 34,200 34,200 13,200 18,000 Utilities expense 12,600 7 600 Travel and entertainment expense 13,000 5000 Bad debt expense 22,000 22,000 Interest expense 12 3,000 3,000 Depreciation expense Lawsuit expense Cost of goods sold 6 12,000 12,000 8 25,000 25,000 4 32000 32000 TAL $1,297,050 $1,297,050 $181,000 $181,000 $1,453,050 $1,453,050 1,003,400 1,033,800 $599,850 $348,550