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Data for Adjustments: The value of the ending inventory is $19,680. Supplies on hand at the end of the period are $1,324. The portion of
Data for Adjustments: The value of the ending inventory is $19,680. Supplies on hand at the end of the period are $1,324. The portion of the insurance premium that expired during the period is $750. Additional federal income taxes owed are $483. A. On the form above, record the adjustment data for Gulf Coast Cameras. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.) Trial Balance Adjustments Debit Credit Account Name Cash in Bank Credit 0 0 Debit 9,894 2,732 28,402 3,003 1,500 45,679 0 0 0 0 0 0 0 4,108 0 30,000 11,090 0 0 0 0 Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accounts Payable Fed. Corp. Inc. Tax Pay. Capital Stock Retained Earnings Income Summary Sales Sales Ret. & Allow. Purchases Transportation in Purch. Ret. & Allow. Advertising Expense Bankcard Fee Expense Insurance Expense Rent Expense Supplies Expense Utilities Expense Fed. Corp. Inc. Tax Exp 171,095 0 9,055 62,796 7,065 0 0 0 2.750 0 14,694 3,465 0 0 0 14,400 0 0 0 0 4,358 12,000 0 219,043 219,043 45,679 0 0 4,108 0 0 0 30,000 11,090 0 0 0 0 171,095 0 Equipment Accounts Payable Fed. Corp. Inc. Tax Pay. Capital Stock Retained Earnings Income Summary Sales Sales Ret. & Allow. Purchases Transportation in Purch. Ret. & Allow. Advertising Expense Bankcard Fee Expense Insurance Expense Rent Expense Supplies Expense Utilities Expense Fed. Corp. Inc. Tax Exp 9,055 62,796 7,065 0 0 0 2,750 0 14,694 3,465 0 0 0 0 0 14,400 0 4,358 12,000 0 0 219,043 219,043 B. Use the information from Part A, indicate the amount that would be extended to the Adjusted Trial Balance section for each of the following accounts. (Omit the "$" sign in your response.) $ $ $ $ 1. Merchandise Inventory 2. Supplies 3. Prepaid Insurance 4. Federal Corporate Income Tax Payable 5. Income Summary 6. Insurance Expense 7. Supplies Expense 8. Federal Corporate Income Tax Expense $ $ $ $
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