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please help! i need to fill out the green thumb gardener worksheet & the analyze part! The Green Thumb Gardener is a retail store that
please help! i need to fill out the green thumb gardener worksheet & the analyze part!
The Green Thumb Gardener is a retail store that sells plants, soll, and decorative pots. On December 31, 2019, the firm's general ledger contained the accounts and balances that appear below. $ 5,300 Dr. 2,200 Dr. 48 Cr. 10,900 Dr. 1,160 Dr. 900 Dr. 7,860 Dr. 1,460 Cr. 1,360 Dr. 240 Cr. 2,585 C. 390 Cr. 84 CE ACCOUNTS AND BALANCES Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Advertising Store Equipment Accumulated Depreciation-Store Equipment office Equipment Accumulated Depreciation office Equipment Accounts Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Salaries Payable Beth Argo, Capital Beth Argo, Drawing Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Rent Expense Telephone Expense Salaries Expense Payroll Taxes Expense Income Summary Supplies Expense Advertising Expense Depreciation Expense-Store Equipment Depreciation Expense office Equipment Uncollectible Accounts Expense 23,375 CE. 19.600 Dr. 88,048 Cr 1,060 Dr. 45,200 Dr. 390 CE 5,600 Dr. 550 Dr. 13,700 Dr. 1,230 Dr. ADJUSTMENTS a.-b. Merchandise inventory on December 31, 2019, is $11.921. c. During 2019, the firm had net credit sales of $31,000, the firm estimates that 0.7 percent of these sales will result in uncollectible accounts. d. On December 31, 2019, an inventory of the supplies showed that items costing $255 were on hand. e.On October 1, 2019, the firm signed a six-month advertising contract for $900 with a local newspaper and paid the full amount in advance. f. On January 2, 2018, the firm purchased store equipment for $7,860. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $560, g. On January 2, 2018, the firm purchased office equipment for $1,360. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $160. h. On December 31, 2019, the firm owed salaries of $1,790 that will not be paid until 2020. 1. On December 31, 2019, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax (assume 1.45 percent) on the entire $1,790 of accrued wages. J. On December 31, 2019, the firm owed federal unemployment tax (assume 0.6 percent) and state unemployment tax (assume 5.4 percent) on the entire $1.790 of accrued wages. Required: 1. Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 2019, 2. Enter the adjustments above in the Adjustments section of the worksheet 3. Complete the worksheet. Analyze: By what amount were the assets of the business affected by adjustments? The Green Thumb Gardener Worksheet Year Ended December 31, 2019 Adjustments Adjusted Trial Balance Debit Credit Debit Credit Trial Balance Debit Credit Income Statement Debit Credit Balance Sheet Debt Credit Account Name Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Advertising Store Equipment Acumulated Deprecision Store Equipment Orice Equipment Accumulated Depreciation Office Equipment Accounts Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Solaris Payable Beth Aago, Capital Boty Ago, Drawing Sales Sales Rolumns and Allowances Purchases Purchases Returns and Alowances Rent Experte Telephone Expense Salaries Experide Payroll Taxes Expense Income Summary Supplies Expense Advertising Expense Depreciation Expense Store Equipment Depreciation Expense-Office Equipment Uncollectible Accounts Expense Total Net Income Analyze: By what amount were the assets of the business affected by adjustments? Complete this question by entering your answers in the tabs below. Worksheet Analyze By what amount were the assets of the business affected by adjustments? Total assets by Step by Step Solution
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