S S Supplies financial year is January to December and the following unadjusted trial balance and accompanying data were present for the year ended December 31, 2016 S S Supplies Trial Balance December 31, 2016 A C NAME TRIAL BALANCE Debit Credit Cash 4000000 Accounts Receivable 600000 Allowance for uncollectible Accounts 20000 Inventory 95000 Supplies 24500 Prepaid Rent 120000 Furniture 4000000 Accumulated Depreciation Furniture Leasehold Improvements 2600000 Accumulated Depreciation Leasehold Accounts Payable 210000 Interest Payable Salaries Payable Note Payable, Longterm 379250 S S Capital 7680000 S S Withdrawal 200000 Sales Revenue 8000000 Cost of Goods Sold 3200000 Salaries Expense 610000 Telephone Expense 125000 Utilities Expense 110000 Uncollectible Account Expense Depreciation Expense Furniture Depreciation Expense Leasehold Rent Expense 520000 Supplies Expense Interest Expense 84750 16289250 16289250 The following additional information is available at Dec 31, 2016 Supplies on hand at Dec 31, 2016 amounted to $10,000 $80,000 of the prepaid rent expired as at December 31, 2016 The Furniture was purchased on January 1 st , 2016 and is being depreciated over five (5) years on the double declining method of deprecation down to a residue of $100,000 The Leasehold Improvements have an estimated useful life of five (5) years and are being depreciated on the straight line method down to a residue of $20,000 Salaries earned by employees not yet paid amounted to $120,000 at December 31,2016 Accrued interest expense due on the notes payable at December 31,2016 amounted to $5,250 A physical count of inventory at December 31, 2016, reveals $100,000 worth of inventory on hand After analyzing the accounts in the accounts receivable subsidiary ledger using the aging method, the companys management estimated that uncollectible accounts will be $30,000 Required Prepare the necessary adjusting journal entries on December 31, 2016 Prepare the multi step Income Statement for the year ended December 31, 2016 Prepare the Statement of Owners Equity for the year ended December 31, 2016 Prepare the Balance Sheet as at December 31, 2016

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S&S Supplies financial year is January to December and the following unadjusted trial balance and accompanying data were present for the year ended December 31,

S&S Supplies financial year is January to December and the following unadjusted trial balance and accompanying data were present for the year ended December 31, 2016.

S&S Supplies

Trial Balance

December 31, 2016

A/C NAME	TRIAL BALANCE
	Debit	Credit

Cash	4000000
Accounts Receivable	600000
Allowance for uncollectible Accounts		20000
Inventory	95000
Supplies	24500
Prepaid Rent	120000
Furniture	4000000
Accumulated Depreciation-Furniture
Leasehold Improvements	2600000
Accumulated Depreciation - Leasehold
Accounts Payable		210000
Interest Payable
Salaries Payable
Note Payable, Longterm		379250
S&S Capital		7680000
S&S Withdrawal	200000
Sales Revenue		8000000
Cost of Goods Sold	3200000
Salaries Expense	610000
Telephone Expense	125000
Utilities Expense	110000
Uncollectible Account Expense
Depreciation Expense- Furniture
Depreciation Expense- Leasehold
Rent Expense	520000
Supplies Expense
Interest Expense	84750
	16289250	16289250

The following additional information is available at Dec 31, 2016:

Supplies on hand at Dec 31, 2016 amounted to $10,000.
$80,000 of the prepaid rent expired as at December 31, 2016.
The Furniture was purchased on January 1^st, 2016 and is being depreciated over five (5) years on the double declining method of deprecation down to a residue of $100,000.
The Leasehold Improvements have an estimated useful life of five (5) years and are being depreciated on the straight-line method down to a residue of $20,000.
Salaries earned by employees not yet paid amounted to $120,000 at December 31,2016.
Accrued interest expense due on the notes payable at December 31,2016 amounted to $5,250
A physical count of inventory at December 31, 2016, reveals $100,000 worth of inventory on hand.
After analyzing the accounts in the accounts receivable subsidiary ledger using the aging method, the companys management estimated that uncollectible accounts will be $30,000.

Required: