Required: 1. Complete the worksheet. a.-b. Ending merchandise inventory, $98,700. c. Uncollectible accounts expense, $1,000. d. Store supplies on hand December 31, 20X1, $625. e. Office supplies on hand December 31, 20X1, $305. f. Depreciation on store equipment, $11,360. g. Depreciation on office equipment, $3,300. h. Accrued sales salaries, $4,000, and accrued office salaries, $1,000. i. Social security tax on accrued salaries, $326; Medicare tax on accrued salaries, $76. (Assumes that tax rates have increased.) j. Federal unemployment tax on accrued salaries, $56; state unemployment tax on accrued salaries, $270. 2. Journalize the adjusting entries on December 31, 20X1. 3. Journalize the closing entries on December 31, 20X1. 4. Compute the following: a. net sales b. net delivered cost of purchases. c. cost of goods sold d. net income or net loss e. balance of Ben Waites, Capital on December 31, 20X1. Analyze: What change(s) to Ben Waites, Capital will be reported on the statement of owner's equity? TONINNER 141 PARTENA nesteinen Ma 2000

Required: 1. Complete the worksheet a.-b. Ending merchandise inventory, $98,700. c. Uncollectible accounts expense, $1,000 d. Store supplies on hand December 31,201,$625 e. Office supplies on hand December 31,201.$305. f. Depreciation on store equipment, $11,360 9. Depreciation on office equipment, $3.300 h. Accrued sales salaries, $4,000, and accrued office salaries, $1,000 i. Social security tax on accrued sataries, $326. Medicare tax on accrued saiaries, $76. (Assumes that tax rates have increased) j. Federal unemployment tax on accrued salaries. $56;5tate unemployment tax on accrued salaries. $270. 2. Joumalize the adjusting entries on December 31,201. 3. Joumalize the ciosing entries on December 31,201. 4. Compute the following: o. nefsales: b. net delwered cost of purchases c. cost of goods sold d. net lincome or net toss e. balance of Ben Waites, Capiral on December 31,201 Anolyze: What change(s) to Ben Woites, Capital wit be reported on the statement of owners equity? Required: 1. Complete the worksheet a.-b. Ending merchandise inventory, $98,700. c. Uncollectible accounts expense, $1,000 d. Store supplies on hand December 31,201,$625 e. Office supplies on hand December 31,201.$305. f. Depreciation on store equipment, $11,360 9. Depreciation on office equipment, $3.300 h. Accrued sales salaries, $4,000, and accrued office salaries, $1,000 i. Social security tax on accrued sataries, $326. Medicare tax on accrued saiaries, $76. (Assumes that tax rates have increased) j. Federal unemployment tax on accrued salaries. $56;5tate unemployment tax on accrued salaries. $270. 2. Joumalize the adjusting entries on December 31,201. 3. Joumalize the ciosing entries on December 31,201. 4. Compute the following: o. nefsales: b. net delwered cost of purchases c. cost of goods sold d. net lincome or net toss e. balance of Ben Waites, Capiral on December 31,201 Anolyze: What change(s) to Ben Woites, Capital wit be reported on the statement of owners equity