Problem 13.3A (Algo) Preparing classified financial statements. LO 13-1, 13-2, 13-3

The Artisan Wines is a retail store selling vintage wines. On December 31, 20X1, the firms general ledger contained the accounts and balances below. All account balances are normal.

Artisan Wines Worksheet Year Ended December 31, 20X1
		Trial Balance						Adjustments						Adjusted Trial Balance						Income Statement						Balance Sheet
Account Name		Debit			Credit			Debit			Credit			Debit			Credit			Debit			Credit			Debit			Credit
Cash	$	27,686.00											$	27,686.00											$	27,686.00
Accounts Receivable		430.00												430.00												430.00
Prepaid Advertising		1,500.00									500.00			1,000.00												1,000.00
Supplies		230.00									165.00			65.00												65.00
Merchandise Inventory		14,300.00						11,300.00			14,300.00			11,300.00												11,300.00
Store Equipment		21,500.00												21,500.00												21,500.00
Accumulated DepreciationStore Equipment					2,300.00						2,950.00						5,250.00												5,250.00
Office Equipment		4,300.00												4,300.00												4,300.00
Accumulated DepreciationOffice Equipment					1,430.00						930.00						2,360.00												2,360.00
Notes Payable, due 20X2					16,500.00												16,500.00												16,500.00
Accounts Payable					2,005.00												2,005.00												2,005.00
Wages Payable											360.00						360.00												360.00
Social Security Tax Payable											22.32						22.32												22.32
Medicare Tax Payable											5.22						5.22												5.22
Unearned Seminar Fees					3,900.00			2,600.00									1,300.00												1,300.00
Interest Payable											82.50						82.50												82.50
Vincent Arroyo, Capital					35,610.00												35,610.00												35,610.00
Vincent Arroyo, Drawing		13,410.00												13,410.00												13,410.00
Income Summary								14,300.00			11,300.00			14,300.00			11,300.00			14,300.00			11,300.00
Sales					146,970.00												146,970.00						146,970.00
Sales Discounts		130.00												130.00						130.00
Seminar Fee Income											2,600.00						2,600.00						2,600.00
Purchases		87,500.00												87,500.00						87,500.00
Purchases Returns and Allowances					930.00												930.00						930.00
Freight In		155.00												155.00						155.00
Rent Expense		12,500.00												12,500.00						12,500.00