CHAPTER 5 Accounting fo Additional information 2020, shows an ending balance of $180. a. The balance on January 1. 2020, in the Store Supplies account was $480. During the year, $1.235 of supplies were purchased and debited to the Store Supplies account. A physical count on December b. The balance on January 1, 2020, in the Office Supplies account was $50. Office supplies of $595 we purchased in 2020 and added to the Office Supplies account. An examination of the office supplies alytus c. The balance in the Prepaid Insurance account represents a policy purchased on September 1, 2020, d. The store equipment was originally estimated to have a useful life of 12 years and a residual value of 53615 e. When the office equipment was purchased, it was estimated that it would last four years and have end revealed that $590 had been used. valid for 12 months from that date. residual value. f. Ending merchandise inventory, $29,000. Required Analyze and determine the impact of the adjustments from (a) to (f) on the unadjusted trialbol ance numbers. Prepare a classified multiple-step income statement like Exhibit 5A.2 using your adjusted balance numbers *Problem 5-13A Sales taxes-perpetual LO3, 7 Journalize cach of the following transactions assuming a perpetual inventory system and PST at 8% along wit on Aug 1 2 5 12 15 17 19 Purchased $2,000 of merchandise for cash Purchased $6,800 of merchandise; terms 2/10, n/30 Sold merchandise costing $3,600 for $5,200; terms 1/10. n/30. Pald for the merchandise purchased on August 2 Collected the amount owing from the customer of August 5. Purchased $6,000 of merchandise; terms 1/15 Recorded $7,000 of cash sales (cost of sales $5,800)