The trial balance of Larkspur Wholesale Company contained the following accounts shown at December 31, the end of the company's fiscal year. LARKSPUR WHOLESALE COMPANY Trial Balance December 31,2022 Debit Credit Cash $ 32,000 Accounts Receivable 37,500 Inventory 69,900 Land 91,900 Buildings 199,900 Accumulated Depreciation-Buildings $ 59,900 Equipment 83,400 Accumulated Depreciation-Equipment 40,400 Notes Payable 54,600 Accounts Payable 17,400 Common Stock 159,900 Retained Earnings 67,100 Dividends 9,900 Sales Revenue 922,000 Sales Discounts 5,900 Cost of Goods Sold 709,800 Salaries and Wages Expense 51,200 Utilities Expense 11,300 Maintenance and Repairs Expense 8.800 Advertising Expense 5,100 Insurance Expense 4,700 $1,321,300 $1,321,300 Adjustment data: 1. Depreciation is $7,900 on buildings and $6,900 on equipment. (Both are operating expenses.) 2. Interest of $4,500 is due and unpaid on notes payable at December 31. 3. Income tax due and unpaid at December 31 is $23,900. Other data: $14,900 of the notes payable are payable next year. (a) Your answer is correct. Journalize the adjusting entries. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Depreciation Expense 14800 Accumulated Depreciation-Buildings 7900 Accumulated Depreciation-Equipment 6900 2. Interest Expense 4500 Interest Payable 4500 3. Income Tax Expense 23900 Income Taxes Payable 23900 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Your Answer Correct Answer Your answer is correct. Create T-accounts for all accounts used in part a. Enter the trial balance amounts into the T-accounts and post the adjusting entries. (Post entries in the order of journal entries posted in part a.) Accumulated Depreciation-Buildings 12/31 Bal. V 59900 12/31 7900 12/31 Bal. 67800 Accumulated Depreciation Equipment 12/31 Bal. 40400 12/31 6900 12/31 Bal. 47300 Depreciation Expense 12/31 14800 12/31 Bal. V 14800 Interest Expense 12/31 V 4500 12/31 Bal. V 4500 Interest Payable 12/31 4500 12/31 Bal. V 4500 Income Tax Expense 12/31 23900 12/31 Bal. V 23900 Income Taxes Payable 12/31 23900 12/31 Bal. 23900 (c) Your Answer Correct Answer (Used) Prepare an adjusted trial balance. LARKSPUR WHOLESALE COMPANY Adjusted Trial Balance December 31, 2022 Debit Credit Cash 32,000 $ Accounts Receivable 37,500 Inventory 69,900 Land 91,900 Buildings 199,900 Accumulated Depreciation-Buildings 67,800 Equipment 83,400 Accumulated Depreciation Equipment 47,300 Notes Payable 54,600 Accounts Payable 17,400 Common Stock 159,900 Retained Earnings 67,100 Dividends 9,900 Sales Revenue 922,000 Sales Discounts 5,900 Cost of Goods Sold 709,800 Interest Payable 4.500 Depreciation Expense 14,800 Income Tax Expense 23,900 Interest Expense 4,500 Salaries and Wages Expense 51,200 Utilities Expense 11,300 Maintenance and Repairs Expense 8,800 Advertising Expense 5.100 Insurance Expense 4,700 Income Taxes Payable 23.900 $ 1.364,500 $ 1,364,500 (d1) Prepare a multiple-step income statement for the year ended December 31, 2022. LARKSPUR WHOLESALE COMPANY Income Statement $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit