Question
Randi's Hardware & Plumbing Work Sheet For Year Ended December 31, 2019 Unadjusted Adjusted No. Account Title Trial Balance Adjustments Trial Balance DR CR DR
Randi's Hardware & Plumbing Work Sheet For Year Ended December 31, 2019
Unadjusted Adjusted No. Account Title Trial Balance Adjustments Trial Balance DR CR DR CR DR CR 101 Cash 215,000 215,000 126 Marketable Securities 70,000 70,000 127 Inventory 231,000 (a) 25,000 206,000 131 Trade Receivables 29,000 (b) 4,300 33,300 167 Equipment 618,000 618,000 168 Accumulated depreciation-Equipment 95,000 (c) 54,000 149,000 176 Land 70,000 70,000 186 Patents 15,000 15,000 190 Trademarks 35,000 35,000 201 Accounts payable 45,000 (d) 34,300 79,300 203 Interest payable 70,000 70,000 210 Wages payable (e) 5,000 5,000 251 Long-term notes payable 156,000 156,000 301 Common Stock 290,000 290,000 305 Retained Earnings 471,000 471,000 401 Sales 750,000 (b) 4,300 754,300 501 Cost of Goods Sold 318,000 (a) 25,000 343,000 612 Depreciation-Equipment (c) 54,000 54,000 633 Advertising expenses 34,000 (d) 5,000 39,000 637 Insurance expense (d) 4,300 4,300 640 Rent expense 21,000 (d) 1,000 22,000 652 Supplies expense (d) 3,000 3,000 683 Wages expense 107,000 (e) 5,000 112,000 684 Interest expense 70,000 70,000 686 Repairs expense 32,000 32,000 690 Utilities expense 12,000 (d) 21,000 33,000 Totals 1,877,000 1,877,000 122,600 122,600 1,974,600 1,974,600 - Requirements:
1) Complete adjusted trial balance of worksheet
2) Use your completed worksheet to prepare a (a) Statement of Net Income, (b) Statement of Owner's Equity and (c) Classified Balance Sheet as of December 31, 2019.
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