Macklemore, Inc. Trial Balance Dec. 2, 20x1 $ Cash 95,000 Accounts Receivable $ 10,000 Note Receivable $ 25,000 Inventory $ 23,400 Supplies $ 2,600 $ 43,000 $ 6,000 $ 2,400 Equipment Prepaid Rent Prepaid Insurance Accounts Payable Notes Payable Unearned Rent Revenue Capital Sales Cost of Goods Sold Salaries Expense Total 55555 88,310 12,000 $ 4,000 91,550 45,900 $ 32,560 $ $ 1,800 241,760 $ 241,760 5 3 24 A B B YOUR STUDENT ID #774 26 A C C Record the following transactions in the general journal then prepare the trial balance for December 31: 1. On Dec. 2, inventory worth $68,BCC (last four of your student ID #) was purchased on credit, with the terms of 2/10, n/30. 2. On Dec. 4, inventory was sold for $25,0CC (last two of your student ID #) was sold on account, with the terms of 3/10, n/30. The cost of inventory was $15,0CC (last two of your student ID#) 3. On Dec. 12, the company paid for the Dec. 2 purchase. (Round to the nearest dollar if necessary) 4. On Dec. 14, the Inventory sold on Dec. 4 was paid. (Round to the nearest dollar if necessary) 5. On Dec. 30, the owner withdrew $4,BCC (last three of your student ID#) from the company. For each of the following transactions, give the adjusting entry required for the year ended Dec. 31, 2001. The initial entries for each transaction were recorded correctly. 6. Received a $2,500 utility bill for electricity usage in December to be paid next month in January. 7. Owed wages to 5 employees who worked four days at $100 each per day at the end of December. The company will pay employees at the end of the first week of next month. 8. On September 1, the company loaned $25,000 to an officer who will repay the loan in one year at an annual interest rate of 12%. (Round to the nearest dollar if necessary) 9. On October 1, the company deposited $56,000 in a savings account that earned 1% interest per year. 10. Paid $2,400 for a 6-month insurance premium on December 1 of this year. 11. Purchased equipment for $43,000 cash on July 1, this year, estimated a useful life of five years with a residual value of $3,000. 12. Unearned rent revenue of $4,000 was for rent for the period September 1, this year, to May 1, next year. 13. Office supplies at year end count totaled $4AA (first two of your student ID#) 14. Rent for the month of December totaled $2,5AA (first two of your student ID#) 15. On July 1, the company took out a 1 year note for $12,000 at an interest rate of 5%. Prepare a worksheet showing the trial balance, adjustments, adjusted trial balance, multi-step income statement (assume utilities, rent, depreciation, and half of the salaries expense as selling expenses, assume insurance, supplies, and half of the salaries expense as general and administrative expenses), statement of owners' equity, classified balance sheet, prepare the closing entries, and post-closing trial balance.