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please help The following trial balance before adjustments is for Snowcrest Ltd. on December 31, 2020: Debits Credits Cash $ 11,000 Inventory 28,000 Advances to

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The following trial balance before adjustments is for Snowcrest Ltd. on December 31, 2020: Debits Credits Cash $ 11,000 Inventory 28,000 Advances to employees 2.900 Supplies 2,100 56,000 Equipment Accumulated depreciation, equipment $ 4,000 6,900 Unearned revenue Bank loan payable 24,000 Common shares 40,000 8,100 232,000 132.000 Retained earnings Sales revenue Cost of goods sold Wages expense Repairs and maintenance expense Rent expense Miscellaneous expenses Dividends declared 34,500 24,500 6,600 14.000 3,400 Totals $315.000 $315 am Data for adjusting entries: 1. As at December 31, 2020, 80% of the wages that had been paid in advance to the salespeople had been earned. 2. A count of the supplies at year end revealed that $600 of supplies were still on hand. 3. Depreciation on the equipment for 2020 was $1.000. 4. The unearned revenue was advance receipts for future deliveries of goods. By December 31, 2020, two-thirds of these deliveries had been made. 5. The bank loan was a six-month loan taken out on October 1, 2020. The interest rate on the loan is 9%, but the interest is not due to be paid until the note is repaid on April 1, 2021. 6. Wages owed at year end and not yet recorded were $500. 7. The rent expense figure includes $600 paid in advance for January 2021. 8. Income tax for the year should be calculated using a tax rate of 25%. (Hint: After you finish the other adjusting entries, determine the income before income tax and then calculate the tax as 25% of this amount.) Debit Credit No. Account Titles and Explanation 1 Wages Expense(80% of 2300) 2. 3. 5. 6. 7. 8

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