F58 - F G H I J K L 4. A B C D E 1 Due Thursday, April 23, 1:00 p.m. Betty Brock, Inc. Adjusted Trial Balance December 31, 2019 7 Dr. 23,500 37,000 3,100 46,575 1,600 14,700 120,000 46,000 16,865 350,000 48, 125 17,000 2,700 12,500 8 Cash 9 Accounts Receivable 10 Allowance for Doubtful Accounts 11 Merchandise Inventory (beginning) 12 Estimated Returns Inventory (beginning) 13 Prepaid Insurance 14 Land 15 Office Equipment 16 Accumulated Depreciation Office Equipment 17 Buildings 18 Accumulated Depreciation-Buildings 19 Timber 20 Accumulated Depletion-Timber 21 Patent 22 Accounts Payable 23 Salaries Payable 24 Interest Payable 25 Customer Refunds Payable 26 Unearned Rent 27 Notes Payable 28 Capital, Betty Brock 29 Betty Brock, Drawings 30 Sales 31 Purchases 32 Purchases Returns and Allowances 33 Purchase Discounts 34 Freight-in 35 Bad Debt Expense 36 Insurance Expense 37 Interest Expense 38 Repairs and Maintenance Expense 39 Salaries Expense 40 Advertising Expense 41 Depreciation Expense 42 Depletion Expense 43 Amortization Expense 44 Utilities Expense 45 Rent Revenue Project 34,700 5,750 1,500 6,250 2,000 285,000 244,750 6,700 434,600 312,550 3,400 7,430 6,000 2,670 1,600 25,000 7,100 35,200 5,700 11,815 1,200 4,000 11,760 4,000 Ready Type here to search K 4 A B C D E F G H I J 34 Freight-in 6,000 35 Bad Debt Expense 2,670 36 Insurance Expense 1,600 37 Interest Expense 25,000 38 Repairs and Maintenance Expense 7,100 39 Salaries Expense 35,200 40 Advertising Expense 5,700 41 Depreciation Expense 11,815 42 Depletion Expense 1,200 43 Amortization Expense 4,000 44 Utilities Expense 11,760 45 Rent Revenue 4,000 46 1,100,170 1,100,170 47 48 49 50 Other data: 51 (1) Inventory on hand at December 31, 2019 (i.e., ending inventory) is $ 98,750 52 (2) Estimated Returns Inventory increased by $ 3,700 (3) Bad Debt Expense, Insurance Expense, Repairs and Maintenance Expense, Depletion Expense, Amortization 53 Expense, and Utilities Expense are 100% administrative. 54 (4) Advertising Expense is 100% selling- 55 (5) Depreciation Expense and Salaries Expense are 60% administrative and 40% selling. 56 (6) Portion of Notes Payable payable in the next year: $ 45,000 57 (7) Betty Brock contributions to the business in 2019 were $ 6,900 58 Points 59 Instructions: Prepare an) 60 61 62 Classified Balance Sheet 63 Multi-step Income Statement 64 Statement of Owner's Equity 65 Closing entries 20 66 67 Total 68 69 **You are required to turn in a neat, legible, HANDWRITTEN copy by the due date. 70 **This is not a group project! 70 Project 10:38
