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Use the following Opening Balances and the transactions below to complete the Unadjusted Trial Balance for National Sports. Opening Balances: Cash: $42,483 A/R - Nike:
Use the following Opening Balances and the transactions below to complete the Unadjusted Trial Balance for National Sports. Opening Balances: Cash: $42,483 A/R - Nike: $13.942 A/R - Under Armor: S9,482 Supplies: $1,483 Inventory: $34,384 Building: $93,492 Bank Loan: $59,305 A/P-Adidas: $21.482 Mortgage Payable: $48,888 National Sports, Capital : Transactions: Use Dec 31 as the date for the Trial Balance 1. National Sports received 50% from Under Armor. 2. National Sports bought a used car for $11,050 to make deliveries during covid 3. National Sports owner withdrew $1,800 for himself. 4. National Sports owner invested an additional $12,000 in the company. 5. National Sports paid off 10% of their mortgage. 6. National Sports sold 49 units for S55 cach. The unit cost was $29 each 7. National Sports bought advertising services for the next year for $4,900 on account from MNM Media. 8. National Sports bought $550 more in supplies. 9. National Sports paid the following bills: Utilities: $350, Insurance: $693, Wages: $1,539, Internet: $130 10. National Sports sold 43 units for $58 each. The unit cost was again $29 each. 11. National Sports performed consulting services for 8 hours charging $120/hour. 12. National Sports paid 13% owing to Adidas. 13. National Sports owner withdrew half of what he withdrew in transaction 3. 14. Nike paid National Sports full amount owing. 15. National Sports received $2,000 for services not yet performed. 16. National Sports bought $5,000 more in inventory on account from Champion Sports. You'll have 22 accounts
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