III. Short Exercises 1) Create ledger accounts for the items in the following adjusting journal entries and post the entries to the ledger accounts. (Points: 40) 3 a. Feed Inventory Purchased for use Change in Purchased Feed Inventories b. Crop Inventory raised for sale Change in Crop Inventory c. Feeder Livestock Inventory Purchased for resale Change in Purchased Feeder Livestock Inventory Prepaid Expenses d. Change in Prepaid Insurance e. Depreciation Expense Accumulated Depreciation f. Change in Accounts Payable Accounts Payable g. Breeding Livestock Losses due to changes in general Base values of Breeding Livestock h. Change in Taxes Payable Non-Current Deferred Taxes 570 10,000 9,050 1,000 31,000 600 2,100 3,600 570 10,000 9,050 1,000 31,000 600 2,100 3,600

1) Create ledger accounts for the items in the following adjusting journal entries and post the entries to the ledger accounts. (Points: 40)