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Following is the unadjusted triaf balance of Ben's Jewelers on December 31 , Jnvi Required: 1. Complete the worksheet using the following information: a. -
Following is the unadjusted triaf balance of Ben's Jewelers on December 31 , Jnvi Required: 1. Complete the worksheet using the following information: a. - b. Ending merchandise inventory, $98,900. c. Uncollectible accounts expense, $1,200. d. Store supplies on hand December 31,201,$645. e. Office supplies on hand December 31,201,$325. f. Depreciation on store equipment, $11,380. 9. Depreciation on office equipment, $3,380. h. Accrued sales salaries, $4,200, and accrued office salaries, $1,200. i. Social security tax on accrued salaries, $334; Medicare tax on accrued salaries, \$80. (Assumes that tax rates have increased.) j. Federal unemployment tax on accrued salaries, \$60; state unemployment tax on accrued salaries, \$278. 2. Journalize the adjusting entries on December 31,201. 3. Journalize the closing entries on December 31,201. 4. Compute the following: a. net sales b. net delivered cost of purchases c. cost of goods sold d. net income or net loss e. balance of Ben Waites, Capital on December 31, 20X1. Analyze: What change(s) to Ben Waites, Capita/ will be reported on the statement of owner's equity? Following is the unadjusted triaf balance of Ben's Jewelers on December 31 , Jnvi Required: 1. Complete the worksheet using the following information: a. - b. Ending merchandise inventory, $98,900. c. Uncollectible accounts expense, $1,200. d. Store supplies on hand December 31,201,$645. e. Office supplies on hand December 31,201,$325. f. Depreciation on store equipment, $11,380. 9. Depreciation on office equipment, $3,380. h. Accrued sales salaries, $4,200, and accrued office salaries, $1,200. i. Social security tax on accrued salaries, $334; Medicare tax on accrued salaries, \$80. (Assumes that tax rates have increased.) j. Federal unemployment tax on accrued salaries, \$60; state unemployment tax on accrued salaries, \$278. 2. Journalize the adjusting entries on December 31,201. 3. Journalize the closing entries on December 31,201. 4. Compute the following: a. net sales b. net delivered cost of purchases c. cost of goods sold d. net income or net loss e. balance of Ben Waites, Capital on December 31, 20X1. Analyze: What change(s) to Ben Waites, Capita/ will be reported on the statement of owner's equity
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