The Dane Lamp Company (DLC), owned by Jenna Dane, is a wholesale company that purchases lamps from the manufacturer and resells them to retail stores. The company has three inventory items desk lamps, table lamps, and floor lamps View the additional information The trial balance for DLC as of September 30, 2025 and additional merchandise inventory data follows View the trial balance. View the merchandise inventory data. During the fourth quarter of 2025, DLC completed the following transactions View the transactions Read the requirements Requirement 1. Open general ledger T-accounts and enter opening balances as of September 30, 2025 (Enter a 0 on the normal side of the T-account for accounts with a zero balance as of September 30, 2025 Abbreviation used Depr=depreciation) Cash Accounts Receivable Accounts Payable Dane, Capital Sales Revenue Sales Returns and Allowances

Were isetrai haimer. con The Dane Lamp Company (OLC), owned by Jenna Dane, is a wholesale company that purchases famps from the manufacturer and resels them fo rntal stores. The company desk timps table tamps, and floor tamps Yew he additanalinformation. The trial balance for DLC as of September 30,2025 and additional merchandise inventory data follows: Yew the trial balance. Vow toe mechandise inventrirydata. During the fourth quarter of 2025 , DLC completed the following transactions Yiew the transadions. desk lamps, tablet lamsic and foor lamps Yrrathetas barke. Yirintiramsadion. Yerive trial bitance. Yonchetramactom dencianios tatio lamph and foot lantes: Vere the eididalane: Ven the tiansedons Additional Information DLC uses a perpetual inventory system-FIFO method. DLC owns land with a building, which is separated into two parts. office space and warehouse space All expenses associated with the office are categorized as Administrative Expenses. All expenses associated with the warehouse, which is used for the shipping and receiving functions of the company, are categorized as Selling Expenses. In addition to the land and building, DLC also owns office furniture and equipment and warehouse fixtures. The company uses one accumulated depreciation account for all the depreciable assets Trial Balance Trial Balance Merchandise Inventory Merchandise Inventory as of September 30 consists of the following lamps Transactions Transactions Transactions Requirements 1. Open general ledger T-accounts and enter opening balances as of September 30,2025 2. Open inventory records for the three inventory items and enter opening balances as of September 30 2025 Complete the inventory records using the following transactions Oct 1, 12, 15, 28, Nov 1,5, 15 , 18 , and Dec. 27 3. Record the transactions in the general journal 4. Post transactions to the general ledger 5. Prepare adjusting entries for the year ended December 31, 2025, and post to the ledger a. Depreciation, $64,500 ( 70% selling, 30% administrative) b. Supplies on hand office, $440, warehouse, $800 c. A physical inventory account resulted in the following counts desk famps, 2,476, table lamps, 5,997 , and floor lamps, 12,100 Update the inventory records 6. Prepare an adjusted trial balance 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each item in the 5,997 , and floor lamps, 12,100 . Update the inventory records. 6. Prepare an adjusted trial balance 7. Provide a summary for the month, in both units and dollars, of the change in inventory for each tem in the following format Does the sum of the ending balances in the inventory records match the balance in merchanuse Inventory in the general ledger? If not, review the transactions to find your error 8. Prepare Dane Lamp Company's mult: step income statement and statement of owners equity for the year ended December 31,2025, and a classified balance sheet as of December 31, 2025 9. Calculate the following ratios for DLC as of December 31, 2025 gross profit porcentage, inventory turnover, and days' sales in inventory 10. Record and post the closing entries 11. Prepare a post-closing trial balance