using column one

INSTRUCTIONS: Prepare adjusting entries and complete the worksheet for Meister Inc, a merchandising company, for the year ended December 31, 2018, using ONE of the assigned columns from below. Then, complete either (2) a Multi-step Income Statement or (3) a Classified Balance Sheet. Assume that Meister Inc. uses the periodic inventory system. (32 points) Eening)-40 Points 1) Information as of December 31, 2018 a) Expired insurance b) Unexpired rent c) Depreciation on warehouse d) Accrued interest on notes payable e) Supplies on hand f) Bad debts based on the aging of accounts receivable g) Merchandise inventory, December 31, 2018 h) Unpaid salaries for the current pay period 7,000 5,000 13,000 2,000 3,000 15,000 32,000 12,000 8,000 4,000 14,000 4,000 2,000 16,000 30,000 15,000 9,000 3,000 15,000 5,000 1,000 29,000 18,000 2) Prepare a Multi-Step Income Statement for the year ended December 31, 2018. (8 points) OR 3) Prepare a Classified Balance Sheet as of December 31, 2018. (8 Points) Note: Both the adjusting entries and the worksheet are required Only ONE financial statement is to be prepared either the multi-step income statement or the classified balance sheet Unadjusted Trial Balance Debit Account Names Credit Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory, 12/31/2017 Notes Receivable (Matures 8/31/2019) Supplies Prepaid Rent Prepaid Insurance Building Accumulated Depreciation Building Accounts Payable Notes Payable (Due 9/30/2030) Juan Carlos, Capital Juan Carlos, Drawings Sales Revenue Sales Discounts Sales Returns & Allowances Purchases Purchases Discounts Purchases Returns& Allowances Freight-In Salaries and Wages Expense Rent Expense Interest Payable Interest Expense TOTALS Depreciation Expense Salaries and Wages Payable Supplies Expense Bad Debts Expense Insurance Expense 28,000 62,000 5,000 41,000 20,000 5,000 25,000 17,000 82,000 55,000 60,000 50,000 46,000 7,000 170,000 8,000 5,000 71,000 4,000 2,000 2,000 15,000 3,000 1,0001 2,000 393,000 393,000