Cash Venice Beach Kite Shop Trial Balance December 31, 20 -- ACCOUNT TITLE Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Land Building Accumulated Depreciation - Building Store Equipment Accumulated Depreciation Store Equipment Accounts Payable Wages Payable Sales Tax Payable Unearned Repair Revenue Mortgage Payable M. Young, Capital M. Young, Drawing Income Summary Sales Sales Returns and Allowances Rent Revenue DEBIT CREDIT BALANCE BALANCE Purchases Purchases Returns and Allowances 20,115 13,852 25,189 8,141 5,490 31,520 49,680 35,040 26,328 1,735 27,048 19,872 14,016 9,540 5,808 8,878 45,250 66,837 118,745 1,356

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Venice Beach Kite Shop Trial Balance December 31,20 .. DEBIT CREDTT ACGOUNT TITLE BALANGE BALANCE Cash 20,115 Accounts Receivable 13,852 Merchandise Inventory 25,189 Supplies 8,141 Prepaid Insurance 5,490 Land Building Accumulated Depreciation - Building 19,872 Store Equipment Accumulated Depreciation - Store Equipment Accumulated Depreciation - Store Equipment 14,016 AccountsPayable9,540 Wages Payable Sales Tax Payable Unearned Repair Revenue Mortgage Payable M, Young, Capital 66,837 M. Young, Drawing 26,328 Income Summary Sales 118,745 Sales Returns and Allowances 1,735 Rent Revenue Purchases Purchases Returns and Allowances 1,356 Year-end adjustment information is as follows: (a and b) Merchandise inventory costing $34,537 is on hand as of December 31,20. (The periodic inventory system is used.) (c) Supplies remaining at the end of the year, $3,348. (d) Unexpired insurance on December 31,$3,749. (e) Depreciation expense on the building for 20,$2,484. (f) Depreciation expense on the store equipment for 20,$3,504, (g) Unearned rent revenue as of December 31,$4,513. (h) Wages earned but not paid as of December 31,$808. Page