Question 2 [60 points] Weber Inc. completed all of its December 31, 2015, adjustments in preparation for preparing its financial statements, which resulted in the following adjusted trial balance. Adjusted Trial Balance a) Prepare the entry (entries) to record any impairment losses at December 31, 2015. Assume Accounts payable $4,900 the company recorded no impairment losses in previous years. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. Accounts receivable 8,800 January 15 would be 15/Jan). For each journal entry, indicate how each account affects the Accumulated depreciation, building 39,000 balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, Accumulated depreciation, equipment. 17,300 if an account decreases equity, choose '-Equity'. Accumulated depreciation, furniture 9,400 General Journal Page Gj1 Effect On Allowance for doubtful accounts 410 Date Account/Explanation F Debit Credit Balance Sheet Building 65,000 Cash 4,970 Equipment 38,000 Expenses, including cost of goods sold 343,000 Furniture 20,000 Share capital 27,400 b) Prepare a classified balance sheet at December 31, 2015. Land 51,000 (select one) Merchandise inventory. 16.100 Balance Sheet Long-term notes payable 40,000 (select one) Retained earnings 42,000 Sales 362,860 Unearned revenue 3,600 X 1) All accounts have normal balances. + DUHURU UJ,UUU Cash 4,970 Equipment 38,000 Expenses, including cost of goods sold 343,000 Furniture 20,000 Share capital 27,400 Land 51,000 Merchandise inventory. 16,100 Long-term notes payable 40,000 Retained earnings 42,000 Sales 362.860 Unearned revenue 3,600 b) Prepare a classified balance sheet at December 31, 2015. (select one) Balance Sheet (select one) 1) All accounts have normal balances. 2) $12,000 of the note payable balance is due by December 31, 2016. The final task in the year-end process was to assess the assets for impairment, which resulted in the following schedule. Asset Recoverable Value Land $54,100 Building 23,000 Equipment 21,800 Furniture 12,700