ending inventory 2000 units

Trial Balance Adjustments Adjusted Trial Balance Income Stmt Balance Sheet DR DR Account DR CR CR CR DR CR DR CR Cash 15,800 Accounts Receivable 9,600 Prepaid Rent 2,400 Supplies 3,700 60.000 Furniture Accumulated Depreciation Furniture 56,000 Acounts Payable 4,300 Salary Payable Common Stock 10,000 Retained Eamings 11.600 Dividends 7,500 Service Revenue 25,100 Salary Expense 6,500 Rent Expense Utilities Expense 1,500 Depreciation Expense- Furniture Supplies Expense Tetal 107,000 107,000 Net inxcome or Loss Adjusted Total Adjustment Data Requirements 1.Complete Adjusting Entries 2.Present in good form an Income Statement, Statement of Retained Earnings and a Balance sheet 3. Complete closing-entries and Post-Closing Trial Balance 1. Accrued Service Revenue at 12/31/18 is $6500 2. Prepaid rent expired during the month: Prepaid rent is for 3 month 12/18 to 02./19 3. Supplies used in December $1,500 4. Depreciation on Furniture for the month: Estimated useful life is 8 years 5. Accrued Salary Expense at December 31, 2018 for Mon to Weds whena five day payroll is $20,000 to be paid on Friday. Units Unit Cost Begin Inventory 8.00 4,000 12.00 Purchases 16,000 Calculate the ending inventory and cost of goods sold for the above inventory using the following inventory cost methods COGS End Inv 1. FIFO 2. LIFO 3. Average Journalize the following transactions A. Issued 12,000 shares of $35 par common stock for a building with market value of $560,000 and equipment with a market value of $390,000. B. Declared a $300,000 dividend with 1,000 shares of $2 preferred stock and 50,000 shares of common stock outstanding C. Paid dividend declared in B above. D. Purchased 1,500 shares of Treasury Stock at $67,500