The November 30 Adjusted Trial balance for NNN Corporation is provided in the excel file. During December the following transactions occurred: Dec. 1 Paid the December rent - $800 3 Purchased $ 1,100 worth of supplies on account 7 Paid employees wages of $1,600, representing $1,000 in wages from late November wages and $600 for December wages. 11 Performed services which were previous paid for in cash of $1,700 17 Paid an invoice for supplies purchased on account last month, $4,000 25 Received $8,600 on accounts receivable 28 Received $700 for services to be provided in the next month. 30 Dividends of $2,000 were declared and paid Additional information: A. Supplies on hand at December 31 were $2,800. B. The Note receivable was issued on November 30 of the current year (due in 6 months with interest of 12% per annum due at maturity). C. Wages of $1,200 were paid on January 3 the following year, which included $700 for December salaries and $500 for the next month salaries. D. $300 of unearned service revenue was earned during this month this was not recorded during the month. E. Equipment was purchased 3 years ago and has a remaining useful life of 3 years (depreciation is only charged at year end). F. Income tax expense for the year ending December is $950. This will not be paid until April the following year. Required a. Post the information to the appropriate cells in the Excel file. Please do not add additional columns. b. Calculate Retained Earnings at December 31 A piece of Equipment is purchased on January 1st 2012 for $49.600. The equipment will be straight line depreciated over 10 years, and at the end of its life is it expected to be sold for scrap for $700. Assuming a December 31 year end, what is Net Book value of this equipment on January 1st, 2016? Retained Earnings Retained A/R and Accrued Interest 10,200 Date Accumlated Depreciation Equipment : Equipment 24,000 (12,000) Supplies Inventory 3,300 Note Receivable 20,000 Cash 3,530 A/P and Accruals 16,790 Unearned Revenue 3,000 Wages Payable 1,000 Land 10,800 Revenues Common Stock 28,000 Expenses Dividends Earnings 11,040 at Nov 30 vw 11 17 25 28 30 A B - I E G H Ending Balance 3,530 10,200 3,300 20,000 24,000 (12,000) 10,800 16,790 3,000 1,000 28,000 11,040