TRIAL BALANCE Gimbel's Gifts and Gadgets End-of-Period Spreadsheet For Year Ended December 31, 20-1 ADJUSTMENTS ADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 16,000.00 16,000.00 Accounts Receivable 11,200.00 11,200.00 Merchandise Inventory 60,000.00 (b) 68,000.00 (a) 60,000.00 68,000.00 Estimated Returns 2,560.00 Inventory (e) 3,440.00 (d) 2,560.00 3,440.00 Supplies 6,400.00 (f) 3,760.00 2,640.00 Prepaid Insurance 4,320.00 (g) 1,280.00 3,040.00 Land 104,000.00 104,000.00 Building 200,000.00 200,000.00 Accum. Depr=Building 80,000.00 (h) 10,000.00 90,000.00 Store Equipment 80,000.00 80,000.00 Accum. Depr Store 32,000.00 (i) 4,000.00 36,000.00 Equipment Accounts Payable 7,680.00 7,680.00 Customer Refunds Payable 2,800.00 (c) 1,760.00 4,560.00 Wages Payable Sales Tax Payable Unearned Subscriptions Revenue J.M. Gimble, Capital (j) 2,800.00 2,800.00 4,720.00 4,720.00 7,120.00(k) 3,520.00 3,600.00 227,448.00 227,448.00 J.M. Gimble, Drawing 20,800.00 20,800.00 Income Summary (a) 60,000.00 (b) 68,000.00 (d) 2,560.00 (e) 3,440.00 60,000.00 68,000.00 2,560.00 3,440.00 Sales 420,112.00 420,112.00 Sales Returns and 11,600.00 (c) 1,760.00 13,360.00 Allowances Rent Revenue (k) 3,520.00 3,520.00 Purchases 100,000.00 100,000.00 Purchases Returns and 1,120.00 1,120.00 Allowances Purchases Discounts 1,440.00 1,440.00 Freight-In 1,680.00 1,680.00 Wages Expense 100,000.00 (j) 2,800.00 102,800.00 Advertising Expense 10,400.00 10,400.00 Supplies Expense (f) 3,760.00 3,760.00 Phone Expense 1,080.00 1,080.00 Utilities Expense 6,400.00 6,400.00 Insurance Expense (g) 1,280.00 1,280.00 Depr. Expense- Building (h) 10,000.00 10,000.00 Equipment Depr, Expense-Store Rent Expense (i) 4,000.00 4,000.00 48,000.00 784,440.00784,440.00 161,120.00 Net Income 48,000.00 161,120.00 874,440.00 874,440.00 365,320.00 497,632.00 132,312.00