The following partial work sheet is taken from Bakers Shop for year ended December 31, 20X1. The ending merchandise inventory is $20,000. Please complete the following:

Required:

1. Complete the adjustments columns for the merchandise inventory.

2. Extend the merchandise inventory to the Adjusted Trial Balance and Balance Sheet columns.

3. Extend the remaining accounts to the Adjusted Trial Balance and Income Statement columns.

4. Prepare a cost of goods sold section (using the format provided below) from the partial work sheet.

Problem 2 Points 25 The following partial work sheet is taken from Baker's Shop for the year ended December 31, 20X1. The ending merchandise inventory is $20,000. Please complete the following REQUIRED 1. Complete the Adjus tments columns for the merchandise inventory 2. Extend the merchandise inventory to the Adjusted Trial Balance and Balance Sheet columns. 3. Extend the remaining accounts to the Adjusted Trial Balance and Income Statement columns 4. Prepare a cost of goods sold section (using the format provided below) from the partial work sheet PARTIAL WORK SHEET DebtC Debit Credit 30,000 1,000 1,500 Cost of Goods Sold Statement Beginning Inventory 9 -Cost of Goods Sold