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Can I get help with filling this worksheet out? VOL Corp. manufactures parts for DVD players. The Trial Balance section of its worksheet and other

Can I get help with filling this worksheet out?

VOL Corp. manufactures parts for DVD players. The Trial Balance section of its worksheet and other year-end data follow.

VOL CORP. Trial Balance December 31, 2016
ACCOUNT NAME DEBIT CREDIT
Cash 60,000
Accounts Receivable 76,000
Allowance for Doubtful Accounts 1,000
Raw Materials Inventory 35,000
Work in Process Inventory 50,000
Finished Goods Inventory 52,000
Prepaid Insurance 7,000
Factory Supplies 5,000
Land 60,000
Factory Building 300,000
Accumulated DepreciationFactory Building 19,600
Factory Machines 150,000
Accumulated DepreciationFactory Machines 19,600
Office Furniture and Equipment 30,000
Accumulated DepreciationOffice Furniture and Equipment 6,000
Accounts Payable 86,000
Salaries and Wages Payable
Income Tax Payable
Social Security Tax Payable
Medicare Tax Payable
Employee Income Tax Payable
Common Stock 110,000
Retained Earnings 493,300
Sales 1,005,500
Sales Returns and Allowances 6,500
Materials Purchases 262,000
Purchases Returns and Allowances 3,000
Freight In 11,000
Direct Labor 191,000
Indirect Labor 30,000
Payroll Taxes ExpensesFactory 30,600
UtilitiesFactory 9,000
Repairs and MaintenanceFactory 3,400
Indirect Materials and Supplies 3,000
DepreciationFactory Building
DepreciationFactory Machines
InsuranceFactory
Property TaxesFactory 7,000
Sales Salaries Expense 95,000
Payroll Taxes ExpenseSales 9,500
Delivery Expense 6,000
Advertising Expense 6,000
Uncollectible Accounts Expense
Miscellaneous Selling Expense 7,500
Officers Salaries Expense 155,000
Office Salaries Expense 50,000
Payroll Taxes ExpenseAdministrative 19,500
Depreciation ExpenseOffice Furniture and Equipment
Other Administrative Expenses 6,000
Income Tax Expense 11,000
Totals 1,744,000 1,744,000

YEAR-END DATA

a. Physical inventories taken on December 31, 2016, show $31,000 of raw materials on hand and $45,000 of finished goods on hand. The work in process inventory is estimated to be $48,000 on the same date.
b.

It is estimated that 2 percent of the outstanding accounts receivable might not be collectible.

c.

Of the prepaid insurance, $4,900 covering the factory building and equipment has expired.

d.

A physical inventory discloses $4,400 of factory supplies on hand at the end of the period.

e.

Depreciation expense for the year is as follows: $9,800 on the factory building, $9,800 on the factory machines, and $3,000 on the office furniture. (Make a compound entry.)

f.

Payroll accruals at the end of the period include $3,500 of direct labor and $500 of indirect labor.

g.

Payroll taxes on accrued wages are social security, 6.2 percent, and Medicare tax, 1.45 percent.

h. The income tax rate is 25 percent.
Include adjustments in the order given on the trial balance.

1.

Using the data given, enter the adjustments. Then complete the worksheet.

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