\begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline Winter's Lumber & & Trial & & Balance & Adjusting & Entries & Adjusted Trial & Balance \\ \hline Cash & $ & 261,627.00 & & & & & & \\ \hline Petty Cash & $ & 225.00 & & & & & & \\ \hline Accounts Recelvable & $ & 262,080.00 & & & & & & \\ \hline Allowance for Doubtful & & & $ & 880.00 & & & & \\ \hline Notes Receivable & $ & 104,200.00 & & & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{|l|} Notes Receivable \\ Interest Receivable \\ \end{tabular}} \\ \hline Inventory & $ & 458,323.00 & & & & & & \\ \hline Office Supplies & $ & 3,680.00 & & & & & & \\ \hline Prepaid Insurance & $ & 11,020.00 & & & & & & \\ \hline Prepaid Rent & $ & 25,410.00 & & & & & & \\ \hline Bond Sinking Fund & $ & 160,000.00 & & & & & & \\ \hline Land & $ & 99,650.00 & & & & & & \\ \hline Buildings & $ & 306,000.00 & & & & & & \\ \hline Accumulated Depreciation & & & $ & 73,040.00 & & & & \\ \hline Trucks and Lifts & $ & 70,500.00 & & & & & & \\ \hline \begin{tabular}{l} Accumulated Depreciation \\ Trucks and Lifts \end{tabular} & & & & & & & & \\ \hline \begin{tabular}{|l|} Trucks and Lifts \\ Furniture and Equipment \\ \end{tabular} & $ & 38,900.00 & $ & 34,990.00 & & & & \\ \hline \multirow{2}{*}{\multicolumn{9}{|c|}{\begin{tabular}{|l|} Furniture and Equipment \\ Accumulated Depreciation \\ \end{tabular}}} \\ \hline Furniture and Equip. & & & $ & 13,200.00 & & & & \\ \hline Notes Payable & & & $ & 15,000.00 & & & & \\ \hline Accounts Payable & & & $ & 164,840.00 & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{l} Accounts Payable \\ Salaries and Wages Payable \end{tabular}} \\ \hline Fica Taxes Payable & & & $ & 5,770.00 & & & & \\ \hline Federal Withhoiding Taxes & & & $ & 10,163.00 & & & & \\ \hline State Withholding Taxes & & & $ & 4,418.00 & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{l} State Withholding Taxes \\ Federal Unemployment Taxes \\ Payable \end{tabular}} \\ \hline \begin{tabular}{l} Payable \\ State Unemployment Taxes \end{tabular} & & & $ & \begin{tabular}{r} 400.00 \\ 2,600.00 \end{tabular} & & & & \\ \hline \begin{tabular}{l} State Unemployment Taxes \\ Dividends Payable \end{tabular} & & & $ & \begin{tabular}{r} 2,600.00 \\ 11,500.00 \end{tabular} & & & & \\ \hline \multirow{2}{*}{\multicolumn{9}{|c|}{\begin{tabular}{|l} Dividends Payable \\ Interest Payable \\ \end{tabular}}} \\ \hline \multirow{2}{*}{\multicolumn{7}{|c|}{\begin{tabular}{l} Interest Payable \\ Income Taxes Payable \\ Mortgage Notes Payable \end{tabular}}} & & \\ \hline & & & & & & & & \\ \hline Mortgage Notes Payable & & & $ & 113,000.00 & & & & \\ \hline \end{tabular} Winter Lumber, LLC Adjusting Entries 1. The management team of Winter Lumber estimates that 10% of accounts receivable will prove to be uncollectible. 2. A physical count of the Office Supplies revealed $830 of supplies on hand at year end. 3. A physical count of the Inventory at year end equaled $457,000. 4. The prepaid insurance was paid on August 1, 2022 and is for insurance through July 30,2023 . The management team estimates that 80% of the premiums are for general activities and 20% for selling activities. 5. At December 31,2022 , the following payroll should be recorded. Gross pay $5600 for delivery and warehouse wages, \$375 for Fica Taxes Payable, $1036 for federal withholding and \$218 for State Withholding. 6. Record the employer's share of FICA taxes Payable. 7. Interest has accrued at 10% on the mortgage notes payable since July 1 , 2022. The next six month interest payment at 9% on the bonds is due in three months. The discount on bonds payable has not been amortized for any part of 2022; the bonds are dated March 1, 2013. They mature March 1,2023. 8. The various notes receivable have accrued interest of 12% since July 1 , 2022. 9. The Note Payable has accrued interest of $1800 and is due Jan. 1,2023 . 10.The prepaid rent account is for three months which ends on February 1. 11. The information you need for the depreciation entries follows: a. The building has an estimated life of 25 years and a salvage value of $20,000. b. Truck \#1 cost $28,000 and has a salvage value of $3100. It should last for 5 years. c. Truck #2 cost $33,000 and has a salvage value of $4200. It should last five years. d. Lift #1,2 and 3 will each have a salvage value of $900 and last for 10 years. Lift 1 cost $7900, Lift 2 cost $4500 and Lift 3 cost $5000. e. Furniture and Equipment cost $32,800 with a $2000 salvage value and will last 7 years. f. The computer cost $6100, last five years and a salvage value of $1300 Complete the Adjusted Trial Balance Prepare an Income Statement, Statement of Retained Earnings, Balance Sheet. \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline Winter's Lumber & & Trial & & Balance & Adjusting & Entries & Adjusted Trial & Balance \\ \hline Cash & $ & 261,627.00 & & & & & & \\ \hline Petty Cash & $ & 225.00 & & & & & & \\ \hline Accounts Recelvable & $ & 262,080.00 & & & & & & \\ \hline Allowance for Doubtful & & & $ & 880.00 & & & & \\ \hline Notes Receivable & $ & 104,200.00 & & & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{|l|} Notes Receivable \\ Interest Receivable \\ \end{tabular}} \\ \hline Inventory & $ & 458,323.00 & & & & & & \\ \hline Office Supplies & $ & 3,680.00 & & & & & & \\ \hline Prepaid Insurance & $ & 11,020.00 & & & & & & \\ \hline Prepaid Rent & $ & 25,410.00 & & & & & & \\ \hline Bond Sinking Fund & $ & 160,000.00 & & & & & & \\ \hline Land & $ & 99,650.00 & & & & & & \\ \hline Buildings & $ & 306,000.00 & & & & & & \\ \hline Accumulated Depreciation & & & $ & 73,040.00 & & & & \\ \hline Trucks and Lifts & $ & 70,500.00 & & & & & & \\ \hline \begin{tabular}{l} Accumulated Depreciation \\ Trucks and Lifts \end{tabular} & & & & & & & & \\ \hline \begin{tabular}{|l|} Trucks and Lifts \\ Furniture and Equipment \\ \end{tabular} & $ & 38,900.00 & $ & 34,990.00 & & & & \\ \hline \multirow{2}{*}{\multicolumn{9}{|c|}{\begin{tabular}{|l|} Furniture and Equipment \\ Accumulated Depreciation \\ \end{tabular}}} \\ \hline Furniture and Equip. & & & $ & 13,200.00 & & & & \\ \hline Notes Payable & & & $ & 15,000.00 & & & & \\ \hline Accounts Payable & & & $ & 164,840.00 & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{l} Accounts Payable \\ Salaries and Wages Payable \end{tabular}} \\ \hline Fica Taxes Payable & & & $ & 5,770.00 & & & & \\ \hline Federal Withhoiding Taxes & & & $ & 10,163.00 & & & & \\ \hline State Withholding Taxes & & & $ & 4,418.00 & & & & \\ \hline \multicolumn{9}{|l|}{\begin{tabular}{l} State Withholding Taxes \\ Federal Unemployment Taxes \\ Payable \end{tabular}} \\ \hline \begin{tabular}{l} Payable \\ State Unemployment Taxes \end{tabular} & & & $ & \begin{tabular}{r} 400.00 \\ 2,600.00 \end{tabular} & & & & \\ \hline \begin{tabular}{l} State Unemployment Taxes \\ Dividends Payable \end{tabular} & & & $ & \begin{tabular}{r} 2,600.00 \\ 11,500.00 \end{tabular} & & & & \\ \hline \multirow{2}{*}{\multicolumn{9}{|c|}{\begin{tabular}{|l} Dividends Payable \\ Interest Payable \\ \end{tabular}}} \\ \hline \multirow{2}{*}{\multicolumn{7}{|c|}{\begin{tabular}{l} Interest Payable \\ Income Taxes Payable \\ Mortgage Notes Payable \end{tabular}}} & & \\ \hline & & & & & & & & \\ \hline Mortgage Notes Payable & & & $ & 113,000.00 & & & & \\ \hline \end{tabular} Winter Lumber, LLC Adjusting Entries 1. The management team of Winter Lumber estimates that 10% of accounts receivable will prove to be uncollectible. 2. A physical count of the Office Supplies revealed $830 of supplies on hand at year end. 3. A physical count of the Inventory at year end equaled $457,000. 4. The prepaid insurance was paid on August 1, 2022 and is for insurance through July 30,2023 . The management team estimates that 80% of the premiums are for general activities and 20% for selling activities. 5. At December 31,2022 , the following payroll should be recorded. Gross pay $5600 for delivery and warehouse wages, \$375 for Fica Taxes Payable, $1036 for federal withholding and \$218 for State Withholding. 6. Record the employer's share of FICA taxes Payable. 7. Interest has accrued at 10% on the mortgage notes payable since July 1 , 2022. The next six month interest payment at 9% on the bonds is due in three months. The discount on bonds payable has not been amortized for any part of 2022; the bonds are dated March 1, 2013. They mature March 1,2023. 8. The various notes receivable have accrued interest of 12% since July 1 , 2022. 9. The Note Payable has accrued interest of $1800 and is due Jan. 1,2023 . 10.The prepaid rent account is for three months which ends on February 1. 11. The information you need for the depreciation entries follows: a. The building has an estimated life of 25 years and a salvage value of $20,000. b. Truck \#1 cost $28,000 and has a salvage value of $3100. It should last for 5 years. c. Truck #2 cost $33,000 and has a salvage value of $4200. It should last five years. d. Lift #1,2 and 3 will each have a salvage value of $900 and last for 10 years. Lift 1 cost $7900, Lift 2 cost $4500 and Lift 3 cost $5000. e. Furniture and Equipment cost $32,800 with a $2000 salvage value and will last 7 years. f. The computer cost $6100, last five years and a salvage value of $1300 Complete the Adjusted Trial Balance Prepare an Income Statement, Statement of Retained Earnings, Balance Sheet