Thanos Merchandising Company Unadjusted Trial Balance December 13, 2019 Account Balance Bank 187 200 Interest Payable 180 000 Bank Loan (5 years) 552 000 Notes Receivable 336 000 Service Revenue 1 080 000 Cost of Service 576 000 Office Supplies 21 600 Accumulated Depreciation(Building) 336 000 Equipment 264 000 Marketing Expense Building 480 000 Depreciation Expense (Building) 72 000 Interest receivable 90 000 Note payable (3 years) 300 000 Cash 33 600 Profit from sale of equipment 7 200 Account Receivable 136 800 Capital 924 000 Utilities Expense 230 400 Accounts Payable 168 000 Bank Loan (1 year) 60 000 Rent Expense 126 000 Prepaid Rent 60 000 Interest Expense 57 600 Accumulated Depreciation(Equipment) 216 000 Service discount 30 000 Land 960 000 Depreciation Expense (Equipment) 192 000 Interest Revenue 60 000 Insurance Expense 42 000 Unearned Service Revenue 84 000 Thanos Merchandising Company was established on January 1, 2019 As of December 31, 2019, the following additional information is available 1 $5 000 of Office Supplies has been used 2 Accrued interest revenue is $10 000 3 $15 000 of prepaid rent has expired as of December 31, 2019 4 As of December 31, 2017, $20 000 of the Unearned Service Revenue is earned Required a Find the Marketing Expense for the year of 2019 (Hint Write all the accounts to debit or credit sides while considering their nature The total of debit and credit sides should be equal ) (10 points) b Prepare and journalize the adjusting entries (20 points) c Prepare the adjusted trial balance (20 points) d Journalize the closing entries (20 points) e Prepare Income Statement and Statement of Financial Position (Balance Sheet) of Thanos Service Company in proper form (30 points

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Thanos Merchandising Company Unadjusted Trial Balance December 13, 2019 Account Balance Bank 187.200 Interest Payable 180.000 Bank Loan (5 years) 552.000 Notes Receivable 336.000 Service

Thanos Merchandising Company Unadjusted Trial Balance December 13, 2019
Account	Balance
Bank	187.200
Interest Payable	180.000
Bank Loan (5 years)	552.000
Notes Receivable	336.000
Service Revenue	1.080.000
Cost of Service	576.000
Office Supplies	21.600
Accumulated Depreciation(Building)	336.000
Equipment	264.000
Marketing Expense	????
Building	480.000
Depreciation Expense (Building)	72.000
Interest receivable	90.000
Note payable (3 years)	300.000
Cash	33.600
Profit from sale of equipment	7.200
Account Receivable	136.800
Capital	924.000
Utilities Expense	230.400
Accounts Payable	168.000
Bank Loan (1 year)	60.000
Rent Expense	126.000
Prepaid Rent	60.000
Interest Expense	57.600
Accumulated Depreciation(Equipment)	216.000
Service discount	30.000
Land	960.000
Depreciation Expense (Equipment)	192.000
Interest Revenue	60.000
Insurance Expense	42.000
Unearned Service Revenue	84.000

Thanos Merchandising Company was established on January 1, 2019. As of December 31, 2019, the following additional information is available:

1. $5.000 of Office Supplies has been used.

2. Accrued interest revenue is $10.000.

3. $15.000 of prepaid rent has expired as of December 31, 2019.

4. As of December 31, 2017, $20.000 of the Unearned Service Revenue is earned.

Required:

a. Find the Marketing Expense for the year of 2019 (Hint: Write all the accounts to debit or credit sides while considering their nature. The total of debit and credit sides should be equal.) (10 points)

b. Prepare and journalize the adjusting entries. (20 points)

c. Prepare the adjusted trial balance. (20 points)

d. Journalize the closing entries. (20 points)

e. Prepare Income Statement and Statement of Financial Position (Balance Sheet) of Thanos Service Company in proper form. (30 points