Question 1 of 1 8.88/50 E Grouper Corp's unadjusted trial balance at December 1, 2017 is presented below. Credit Debit $25,000 35,800 9.600 O 36,020 3,300 21,800 149.400 60,000 9,450 Cash Accounts Receivable Notes Recevable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Notes Payable loue April 30, 2018) Income Taxes Payable Interest Payable Notes Payable due in 2023) Common Stock Retained Earnings Dividends Sales Revenge Interest Revenue Gain on Disposal of Plant Assets Bad Debt Expense Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Other Operating Expenses Amortization Experte Salaries and wiperse Total $400 49,800 24.000 27.200 0 11,500 O 0 35.400 57.700 16.570 12,000 944,500 0 0 637.000 0 0 o 0 61.700 0 106.000 31,167,070 51.167070 Question 1 of 1 8.88/50 The following transactions occurred during December Purchased equipment for $15,600 plus sales taws of $1,200 (paid in cash Dec 2 2 Grouper sold for $3,500 equipment which originally cost $4,800. Accumulated depreciation on this equipment at January 1, 2017, was $1.900: 2017 depreciation prior to the sale of equipment was $400. Grouper sold for $5.500 on account Inventory that cost $3,300. Salaries and wages of $6,550 were pold 15 23 Adiustment data: 1 2. 3 4 5. 6. Grouper estimates that uncollectible accounts receivable at year-end are $3.810. The note receivable is a one-year note dated April 1, 2017. No interest has been recorded The balance in prepaid insurance represents payment of a $3.300,6-month premium on September 1, 2017 The building is being deprecated using the straight line method over 30 years. The salvage value is $31,500 The equipment owned prior to this year is being deprecated using the straight line method over 5 years. The salvage value is 10% of cost The equipment purchased on December 2, 2017. is being depreciated using the straight-line method over 5 years with a salvare value of $2.400 The patent was acquired on January 1, 2017 and has a useful life of years from that date Unpaid salaries at December 31, 2017, total $2.180. Both the short-term and long term notes payable are dated January 1, 2017, and carry a 10% interest rate. Al interestis payable in the next 12 months Income tax expense was $14,300. It was unpaid t December 31 7 8 9 10 Part 1 Part 2 Peware an adjusted trial balance December 31, 2017 GROUPER CORP Adiusted Trial Balance Question 1 of 1 8.88/50 GROUPER CORP Adjusted Trial Balance Debit Credit Question 1 of 1 8.88/50 11 Textbook and Mid 0