Oct. 31: Paid salaries, $45,000 ( 75% selling, 25% administrtive). Data table Data table them to retail stores. The company has three inventory items: and floor lamps. RLC uses a perpetual inventory system, FIFO with a building, which is separated into two parts: office space All expenses associated with the office are categorized as s. All expenses associated with the warehouse, which is used for ing functions of the company, are categorized as Selling Expenses. (Click the icon to view Merchandise Inventory as and building. R/C also owns office furniture andeawioment and lirements. Data table More info Oct. 1 Purchased lamps on account from Pacific Lights, terms n/30, FOB destination: 5,500 desk lamps at $12 each 9,500 table lamps at $16 each 4,500 floor lamps at $27 each Oct. 12 Sold lamps on account to Gala Home Furnishings, terms 2/10,n/30 : 5,500 table lamps at $47 each Oct. 15 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 1,300 desk lamps at $18 each Oct. 20 Received a check from Gala Home Furnishings for full amount owed on Oct. 12 sale. Oct. 23 Received a check from Alpharetta Office Supply for full amount owed on Oct. 15 sale. Oct. 28 Sold lamps on account to Pike Home Stores, terms 2/10,n/30 : 4,000 table lamps at $47 each 1,000 floor lamps at $67 each Oct. 30 Paid amount due to Pacific Lights from Oct. 1 purchase. Oct. 31 Paid salaries, $45,000 (75\% selling, 25\% administrative). Oct. 31 Paid utilities, $2,400 ( 60% selling, 40% administrative). Nov. 1 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 3,700 desk lamps at $18 each Nay 5 Purchacad lamne an acrount from Pacific Liahte tarme n/3n FaR dectinatian: Nov. 1 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 3,700 desk lamps at $18 each Nov. 5 Purchased lamps on account from Pacific Lights, terms n/30, FOB destination: 5,500 desk lamps at $13 each 12,000 table lamps at $18 each 9,000 floor lamps at $28 each Nov. 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. Nov. 8 Received a check from Alpharetta Office Supply for full amount owed on Nov. 1 sale. Nov. 10 Purchased and paid for supplies: $525 for the office; $480 for the warehouse. Nov. 15 Sold lamps on account to Jackson Office Supply, n/30 : 1,500 desk lamps at $18 each Nov. 18 Sold lamps on account to Market Discount Stores, terms 1/10, n/30 : 2,500 table lamps at $47 each 2,100 floor lamps at $67 each Nov. 28 Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Nov. 30 Paid salaries, $45,000 (75\% selling, 25% administrative). Nov, 30 Paid utilities, $2,890 (60\% selling, 40% administrative). Dec. 5 Paid amount due to Pacific Lights from Nov. 5 purchase. Dec. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. Nov. 8 Received a check from Alpharetta Office Supply for full amount owed on Nov. 1 sale. Nov. 10 Purchased and paid for supplies: $525 for the office; $480 for the warehouse. Nov. 15 Sold lamps on account to Jackson Office Supply, n/30 : 1,500 desk lamps at $18 each Nov. 18 Sold lamps on account to Market Discount Stores, terms 1/10, n/30 : 2,500 table lamps at $47 each 2,100 floor lamps at $67 each Nov. 28 Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Nov. 30 Paid salaries, $45,000 ( 75% selling, 25% administrative). Nov. 30 Paid utilities, $2,890 (60\% selling, 40% administrative). Dec. 5 Paid amount due to Pacific Lights from Nov. 5 purchase. Dec. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. Dec. 15 Paid dividends, $25,000. Dec. 27 Sold lamps on account to Gaia Home Furnishings, terms 2/10,n/30 : 6,300 desk lamps at $18 each 6,500 table lamps at $47 each Dec. 31 Paid salaries, $45,000(75% selling, 25\% administrative). Dec. 31 Paid utilities, $3,000 ( 60% selling, 40% administrative). 1. Open general ledger T-accounts and enter opening balances as of September 30 , 2024. 2. Open inventory records for the three inventory items and enter opening balances as of September 30,2024 . Complete the inventory records using the following transactions: Oct. 1,12,15,28; Nov. 1, 5, 15, 18, and Dec. 27. 3. Record the transactions in the general journal. 4. Post transactions to the general ledger. 5. Prepare adjusting entries for the year ended December 31, 2024, and post to the ledger: a. Depreciation, $35,600 (75\% selling, 25\% administrative). b. Supplies on hand: office, $505; warehouse, $410. c. A physical inventory account resulted in the following counts: desk lamps, 980 ; table lamps, 6,494; and floor lamps, 12,900. Update the inventory records. 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the following format: (Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error. 8. Prepare Reyes Lamp Company's multi-step income statement and statement of retained earnings for the year ended December 31, 2024, and a classified balance sheet as of December 31,2024. 9. Calculate the following ratios for RLC as of December 31,2024 : gross profit 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the following format: (Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error. 8. Prepare Reyes Lamp Company's multi-step income statement and statement of retained earnings for the year ended December 31,2024 , and a classified balance sheet as of December 31, 2024. 9. Calculate the following ratios for RLC as of December 31,2024 : gross profit percentage, inventory turnover, and days' sales in inventory. 10. Record and post the closing entries. 11. Prepare a post-closing trial balance. Oct. 31: Paid salaries, $45,000 ( 75% selling, 25% administrtive). Data table Data table them to retail stores. The company has three inventory items: and floor lamps. RLC uses a perpetual inventory system, FIFO with a building, which is separated into two parts: office space All expenses associated with the office are categorized as s. All expenses associated with the warehouse, which is used for ing functions of the company, are categorized as Selling Expenses. (Click the icon to view Merchandise Inventory as and building. R/C also owns office furniture andeawioment and lirements. Data table More info Oct. 1 Purchased lamps on account from Pacific Lights, terms n/30, FOB destination: 5,500 desk lamps at $12 each 9,500 table lamps at $16 each 4,500 floor lamps at $27 each Oct. 12 Sold lamps on account to Gala Home Furnishings, terms 2/10,n/30 : 5,500 table lamps at $47 each Oct. 15 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 1,300 desk lamps at $18 each Oct. 20 Received a check from Gala Home Furnishings for full amount owed on Oct. 12 sale. Oct. 23 Received a check from Alpharetta Office Supply for full amount owed on Oct. 15 sale. Oct. 28 Sold lamps on account to Pike Home Stores, terms 2/10,n/30 : 4,000 table lamps at $47 each 1,000 floor lamps at $67 each Oct. 30 Paid amount due to Pacific Lights from Oct. 1 purchase. Oct. 31 Paid salaries, $45,000 (75\% selling, 25\% administrative). Oct. 31 Paid utilities, $2,400 ( 60% selling, 40% administrative). Nov. 1 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 3,700 desk lamps at $18 each Nay 5 Purchacad lamne an acrount from Pacific Liahte tarme n/3n FaR dectinatian: Nov. 1 Sold lamps on account to Alpharetta Office Supply, terms 3/10,n/30 : 3,700 desk lamps at $18 each Nov. 5 Purchased lamps on account from Pacific Lights, terms n/30, FOB destination: 5,500 desk lamps at $13 each 12,000 table lamps at $18 each 9,000 floor lamps at $28 each Nov. 5 Received a check from Pike Home Stores for full amount owed on Oct. 28 sale. Nov. 8 Received a check from Alpharetta Office Supply for full amount owed on Nov. 1 sale. Nov. 10 Purchased and paid for supplies: $525 for the office; $480 for the warehouse. Nov. 15 Sold lamps on account to Jackson Office Supply, n/30 : 1,500 desk lamps at $18 each Nov. 18 Sold lamps on account to Market Discount Stores, terms 1/10, n/30 : 2,500 table lamps at $47 each 2,100 floor lamps at $67 each Nov. 28 Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Nov. 30 Paid salaries, $45,000 (75\% selling, 25% administrative). Nov, 30 Paid utilities, $2,890 (60\% selling, 40% administrative). Dec. 5 Paid amount due to Pacific Lights from Nov. 5 purchase. Dec. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. Nov. 8 Received a check from Alpharetta Office Supply for full amount owed on Nov. 1 sale. Nov. 10 Purchased and paid for supplies: $525 for the office; $480 for the warehouse. Nov. 15 Sold lamps on account to Jackson Office Supply, n/30 : 1,500 desk lamps at $18 each Nov. 18 Sold lamps on account to Market Discount Stores, terms 1/10, n/30 : 2,500 table lamps at $47 each 2,100 floor lamps at $67 each Nov. 28 Received a check from Market Discount Stores for full amount owed on Nov. 18 sale. Nov. 30 Paid salaries, $45,000 ( 75% selling, 25% administrative). Nov. 30 Paid utilities, $2,890 (60\% selling, 40% administrative). Dec. 5 Paid amount due to Pacific Lights from Nov. 5 purchase. Dec. 15 Received a check from Jackson Office Supply for full amount owed on Nov. 15 sale. Dec. 15 Paid dividends, $25,000. Dec. 27 Sold lamps on account to Gaia Home Furnishings, terms 2/10,n/30 : 6,300 desk lamps at $18 each 6,500 table lamps at $47 each Dec. 31 Paid salaries, $45,000(75% selling, 25\% administrative). Dec. 31 Paid utilities, $3,000 ( 60% selling, 40% administrative). 1. Open general ledger T-accounts and enter opening balances as of September 30 , 2024. 2. Open inventory records for the three inventory items and enter opening balances as of September 30,2024 . Complete the inventory records using the following transactions: Oct. 1,12,15,28; Nov. 1, 5, 15, 18, and Dec. 27. 3. Record the transactions in the general journal. 4. Post transactions to the general ledger. 5. Prepare adjusting entries for the year ended December 31, 2024, and post to the ledger: a. Depreciation, $35,600 (75\% selling, 25\% administrative). b. Supplies on hand: office, $505; warehouse, $410. c. A physical inventory account resulted in the following counts: desk lamps, 980 ; table lamps, 6,494; and floor lamps, 12,900. Update the inventory records. 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the following format: (Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error. 8. Prepare Reyes Lamp Company's multi-step income statement and statement of retained earnings for the year ended December 31, 2024, and a classified balance sheet as of December 31,2024. 9. Calculate the following ratios for RLC as of December 31,2024 : gross profit 6. Prepare an adjusted trial balance. 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the following format: (Click the icon to view the format.) Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory in the general ledger? If not, review the transactions to find your error. 8. Prepare Reyes Lamp Company's multi-step income statement and statement of retained earnings for the year ended December 31,2024 , and a classified balance sheet as of December 31, 2024. 9. Calculate the following ratios for RLC as of December 31,2024 : gross profit percentage, inventory turnover, and days' sales in inventory. 10. Record and post the closing entries. 11. Prepare a post-closing trial balance