Following is the unadjusted trial balance of Ben's Jewelers on December 31, 20X1. BEN'S JEWELERS Trial Balance December 31, 20X1 Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Store Supplies Office Supplies Store Equipment Accumulated Depreciation-Store Equipment Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Salaries Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Ben Waites, Capital Ben Waites, Drawing Income Summary Sales Sales Returns and Allowances Purchases $ 13,050 Dr. 49,900 Dr. 2,000 Cr. 105,900 Dr. 4,230 Dr. 2,950 Dr. 113,590 Dr. 13,010 Cr. 27,640 Dr. 4,930 Cr. 4,390 Cr. 166,310 Cr. 30,000 Dr. 862,230 Cr. 7,580 Dr. 504,810 Dr. Income Summary Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Purchases Discounts Freight In Salaries Expense-Sales Rent Expense Advertising Expense Store Supplies Expense Depreciation Expense-Store Equipment Salaries Expense-Office Uncollectible Accounts Expense Payroll Taxes Expense Office Supplies Expense Depreciation Expense-Office Equipment 862,230 Cr. 7,580 Dr. 504,810 Dr. 4,240 Cr 10,770 Cr. 7,000 Dr. 75,950 Dr. 35,500 Dr. 12,300 Dr. 77,480 Dr. Required: 1. Complete the worksheet. a.-b. Ending merchandise inventory, $98,700. c. Uncollectible accounts expense, $1,000. d. Store supplies on hand December 31, 20x1, $625. e. Office supplies on hand December 31, 20X1, $305. f. Depreciation on store equipment, $11,360. g. Depreciation on office equipment, $3,300. h. Accrued sales salaries, $4,000, and accrued office salaries, $1,000. i. Social security tax on accrued salaries, $326; Medicare tax on accrued salaries, $76. (Assumes that tax rates have increased.) j. Federal unemployment tax on accrued salaries, $56; state unemployment tax on accrued salaries, $270. 2. Journalize the adjusting entries on December 31, 20X1. 3. Journalize the closing entries on December 31, 20X1. 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, Capital will be reported on the statement of owner's equity? Complete this question by entering your answers in the tabs below. Reg1 Req Nog 3 Req 4A Reg 40 Rento Reg 40 Reg 4 Analyze complete the worksheet. (Enter both the debit and credit effects wherever required) BEN'S JEWELERS Worksheet Year Ended December 31, 20X1 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Income Statement Debit Cred Account Name nial Balance Credit 13.050 49.900 $ Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Store Supplies Office Supplies 98.700 05 305 F Analyze Reg 4E Reg 1 Reg 2 Reg 3 Reg 40 Reg 4D Req 4A Reg 4B Journalize the adjusting entries on December 31, 20X1. View transaction list Journal entry worksheet > 1 2 3 4 5 10 6 8 9. 7 Record beginning inventory adjustment. Note: Enter debits before credits. Debit General Journal Date Credit Dec 31, 20X1 Reg 1 Req 2 Req 3 Req 4A. Reg 4B Req 4C Reg 4D Reg 4E Analyze Journalize the closing entries on December 31, 20X1. View transaction list Journal entry worksheet Record the closing entry for revenue and other credit items. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 20X1 vnal criangels) lo pen waites, Capital will be reporteu one sidemenil on Owner sequily! Complete this question by entering you answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4A Reg 4B Req 40 Reg 4D Req 4E Analyze Compute net sales. Net Sales $ 0 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg 4A Reg 4B Req 4C Reg 4D Reg 4E Analyze Compute the net delivered cost of purchases. Delivered cost of purchases $ 0 0 Net delivered cost of purchases $ 0 wrial Changels) to den wartes, capital will be reported on ne sldlement Oi Owners equily? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4A Req 4B Req 45 Req 4D Req 4E Analyze sk Compute the cost of goods sold. 1 ces Total merchandise available for sale $ 0 Cost of goods sold $ 0 Analyze: What change(s) to Ben Waites, Capital will be reported on the statement of owner's equity? Complete this question by entering your answers in the tabs below. Req 1 Req 2 Reg 3 Reg 4A Req 4B Req 4C READ Req 4E Analyze ok Indicate the amount of net income or loss. int ences er sequity Complete this question by entering your answers in the tabs below. Req 1 Req 2 Reg 3 Req 4A Req 4B Req 40 Req 4D Reg 4E Analyze Compute the balance of Ben Waites, Capital on December 31, 20X1. 0 $ 0 Complete this question by entering your answers in the tabs below. 5 Req 1 Req 2 Req3 Reg 4A Reg 4B Req 4C Reg 4D Reg 4E Arhdyze Book What change(s) to Ben Waites, Capital will be reported on the statement of owner's equity? Print erences