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Healthy Eating Foods Company is a distributor of nutritious snack foods such as granola bars. On December 31, 2019, the firm's general ledger contained the

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Healthy Eating Foods Company is a distributor of nutritious snack foods such as granola bars. On December 31, 2019, the firm's general ledger contained the accounts and balances that follow. $ 30,100 Dr. 35,200 Dr. 420 Cr. 86,000 Dr. 10,400 Dr. 5,400 Dr. 8,300 Dr. 2,650 Cr 28,000 Dr. 9,600 Cr. 32,000 Cr. 12,200 Cr. 1,680 Cr 388 Cr ACCOUNTS AND BALANCES Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Office Equipment Accum. Depreciation Office Equipment Warehouse Equipment Accum. Depreciation-Warehouse Equipment Notes Payable-Bank Accounts Payable Interest Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Salaries Payable Phillip Tucker, Capital Phillip Tucker, Drawing Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Income Summary Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Supplies Expense Insurance Expense Depreciation Expense-Office Equip. Depreciation Expense-Warehouse Equip. Uncollectible Accounts Expense Interest Expense 108,684 Cr. 56,000 Dr. 653,778 Cr 10,000 Dr. 350.000 Dr. 9,200 Cr. 36,000 Dr. 2,200 Dr. 160.000 Dr. 13,000 Dr. ADJUSTMENTS 6.-b. Merchandise inventory on December 31, 2019. is $78,000 c. During 2019, the firm had net credit sales of $560,000; past experience indicates that 0.5 percent of these sales should result in uncollectible accounts. d. On December 31, 2019, an inventory of supplies showed that items costing $1180 were on hand e. On May 1, 2019, the firm purchased a one-year insurance policy for $5,400. 1. On January 2, 2017, the firm purchased office equipment for $8.300. At that time, the equipment was estimated to have a useful life of six years and a salvage value of $350. g. On January 2, 2017, the firm purchased warehouse equipment for $28.000. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $4,000. h. On November 1, 2019, the firm issued a four-month, 12 percent note for $32.000 1. On December 31, 2019, the firm owed salaries of $5.000 that will not be paid until 2020 J. On December 31, 2019, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax (assume 145 percent) on the entire $5,000 of accrued wages. ADJUSTMENTS a. b. Merchandise inventory on December 31, 2019, is $78,000 c. During 2019, the firm had net credit sales of $560,000, past experience indicates that 0.5 percent of these sales should result in uncollectible accounts d. On December 31, 2019, an inventory of supplies showed that items costing $1180 were on hand .. On May 1, 2019, the firm purchased a one year insurance policy for $5,400. On January 2, 2017, the firm purchased office equipment for $8.300. At that time, the equipment was estimated to have a useful life of six years and a salvage value of $350. g. On January 2, 2017, the firm purchased warehouse equipment for $28.000. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $4,000 h. On November 1, 2019, the firm issued a four month, 12 percent note for $32.000 L.On December 31, 2019, the firm owed salaries of $5.000 that will not be paid until 2020. J.On December 31, 2019, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax assume 145 percent on the entire 55.000 of accrued weges k. On December 31, 2019, the firm owed the federal unemployment tax (assume 0.6 percent) and the state unemployment tax (assume 5.4 percent) on the entire $5,000 of accrued wages. Trial Balance Debit Credit TS 30.100001 500 00 income Statement Deoll Credit Healthy Eating Foods Company Worksheet Year Ended December 11, 2018 Adjustments Adjusted Trial Balance Debit Credit Debit Credit TS 30,100 00 32.500 00 960000 10 020 00 Det 30.10000 32 500 00 10.02000 Accounts Recenate Allowance for Doubtful Accou Merchandise inventory Supplies 80,000.00 1180 00 86.000.00 118000 922900 het Accumulated De-Office Equipment Warehouse tout Accumulated Der-Warehouse Equipment Accounts Payable Interest Payat Social Security Tax Payable Medicare Tax Payable Federal Tax Payne State Uni on Tax Pay Salanes Payable Philip Tucker Capital Philip Tucker, Drawing Sass Returns and Allowances Purchases Purchases Returns and Allowance income Summary Rent Expenses Telephone Expense Salanes Expense Payroll Taxes Expense Supplies Expense Insurance Expense

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