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Organic Footwear, Inc. Directions: Using the space provided in Excel, provide a brief explanation and, when appropriate, show the computations necessary to derive the first

Organic Footwear, Inc. Directions: Using the space provided in Excel, provide a brief explanation and, when appropriate, show the computations necessary to derive the first year balances in rows where ? marks exist. Use the yellow highlighted space provided to the right of the accounts.
Trial Balance
31-Dec-21
Accounts Debit Credit
Cash 29,393
Investments 153,789?
Security Deposit 1,500?
Supplies 750?
Inventory, 258 pairs of shoes 15,480?
Deferred Tax Asset 26,335
Office Furniture & Fixtures 125,000?
Information & Communication Systems 115,000?
Accumulated Depreciation 40,863
Accounts Payable, terms eom 24,790?
Wages Payable 6,933?
Common Stock 500,000?
Retained Earnings -
Sales Revenue 564,000?
Gain on investments 3,789?
Cost of Goods Sold 282,000?
Salaries & Wages Expense 166,400
Research & Development Expense 78,200
Advertising Expense 45,120
Payroll Taxes 24,960
Depreciation Expense 40,863
Office Rent Expense 18,000?
Utilities Expense 12,000?
Supplies Expense 1,410?
Professional Fees 9,870
Insurance Expense 8,000
Office Equipment Rent Expense 6,000
Amazon Selling Fees 5,640
Miscellaneous Expense 1,000
Income Tax Expense 26,335?
1,166,7101,166,710

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