*needs to prepare balance sheet

*Multi-step Income Statement

*Statement of owners Equity

*Closing entries

Due November 7, 1:00 p.m. Joe Ellis, LLC Adjusted Trial Balance December 31, 2017 Dr. Cr. Cash 25,000 Accounts Receivable 34.000 Allowance for Doubtful Accounts 2,200 Merchandise Inventory (be 85,000 Estimated Returns Invento 1,800 Prepaid Insurance 16,800 Land 120,000 Office Equipment 46.000 Accumulated Depreciation Office Equipe 16,865 Buildings 350,000 Accumulated Depreciation-Buidings 48,125 Timber 20,000 Accumulated Depletion-Timber 4.000 Patent 12.500 Accounts Payable 44.000 Salaries Payable 10,000 Interest Payable 3,500 Customer Refunds Payable 8,500 Unearned Rent 1,000 Notes Payable 350,000 Capital, Saly Smith 169,475 Sally Smith, Drawings 5,500 Sales 422.400 Purchases 221,700 Purchoses Returns and Allowances 3,800 Purchase Discount 8,620 Freight-in 6.200 Bad Debt Expense 2,670 Insurance Expense 1,600 Interest Expense 45,000 Repairs and Maintenance 6,800 Salaries Expense 34.500 Advertising Expense 5,700 Depreciation Expense 31.815 Depletion Expense 3.000 Amortization Expense 4,000 Utilities Expense 14.100 Rent Revenue 1,200 1,093.685 1,093,685 Depletion Expense Amortization Expense Utilities Expense Rent Revenue 3.000 4.000 14,100 1,200 1,093,685 1.093,685 Other data: (1) Inventory on hand at December 31, 2017 is $97,600 (i.e., ending inventory). (2) Estimated Returns Inventory increased by $5,000. u DuU DEUX CADENDE, INDULGE CAP, ne pensaru Maintenance Expense, Depletion Expense. Amortization Gunnnen niitine Gunnnonam 10 minit unthin (4) Advertising Expense is 100% selling. (5) Depreciation Expense and Salaries Expense are 60% administrative and 40% selling. (6) $25,000 of the Notes Payable are payable next year. Instructions: Prepare a(n) Points Classified Bala 20 Multi-step Inco 20 Statement of a 5 Closing entries 5 Total 50 **You are required to turn in a neat, legible, HANDWRITTEN copy by the due date. **This is not a group project! Cengad x Troy Un x Awardx Financ. x C Get Hox te.com/courses/62008/assignments/916283 AUVERY EATV (5) Depreciation Expense and Salarios Exponse are 60% administrative an (6) $25,000 of the Notes Payable are payable next year. Instructions: Prepare an) Points Classified Bala 20 Multi-step Inco 20 Statement of 5 Closing entries 5 Total 50 **You are required to turn in a neat, legiblo, HANDWRITTEN copy by the **This is not a group project! Prepare from the data contained in the above Excel file: Classified Balance Sheet Multi-Step Income Statement Statement of Owner's Equity Closing entries Total 20 pts 20 pts 5 pts 5 pts 50 pts **You are required to turn in a neat, legible, HANDWRITTEN copy by the due date, **This is not a group project! GE 2,200 16,865 4.125 4,000 De November 7. 1.00 Joe Ellis, LLC Adjusted Trial Balance December 31, 2017 Or Cash 26.000 Accounts Receivable 34,000 Allowance for Douth Accounts Merchandise Inventory (be 85000 Esmaned Returns were 1,000 Prepaid Insurance 10,000 Land 120,000 Orice Equipment 48,000 Aboumulated Depreciation Office Equip Bulding 350,000 Accumulated Deprecation Buildings Timber 20,000 Accumulated Depletion Timber Paler 12.500 Accounts Payable Salves Payabile interes Payable Customer Refunds Payable Unewned Rent Notes Pwable Capit, Sally Smit Saly Smeh, Drawings 6,100 Sales Purchases 221,700 Purchases Returns wd Alones Purchase Discounts Freightlin 6.200 Bad Det Expense 2,670 surance Expense 1,600 interest Expense 45.000 Repers and Maintenance 6.900 Salaries Expanse 34,500 Advertising Expone 3,700 Depreciation pense 31816 Depleton pense 2.000 Amortization Expense 4,000 Us Experts 14,100 Rent Revenue 44,000 10.000 3,000 1.500 1.000 350.000 108,475 422.400 1000 8,620 1.200 093 Other data Inventory on and December 31, 2017 i 307.600 ning very) 21 imated Returns wwertery red by 55.000 A Martenance fapere, Depletion Expension SALIM (4) Advertising Expense 100% ting (5) Depreciation Expense and experiewe Bonave 40% ning (526,000 of the Nos Payable are payable new year InstructionsPopus (n) Ports Classified Bala Musleping 20 Glacement of Closing en Total You are required to turn in a neal, legible, HANOWRITTEN Copy by the due date. This is not a group project