Westeros Car Wash Trial Balance December 31, 2015 Account Cash Debit $52,000 Credit Notes Receivable 31,000 Accounts Receivable 85,000 Allowance for Doubtful Accounts $2.200 Prepaid Insurance 34,000 Merchandise Inventory 142,300 Supplies 2,020 Office Equipment 340,040 Accumulated Depreciation-Office Equipment 82.510 Building 2,044,000 Accumulated Depreciation-Building 204,400 Land 2,400,000 Unearned Revenue 64,000 Accounts Payable 34,000 Common Stock 2,500,000 Retained Earnings 1,583,670 Dividends 50,000 Sales 1.200.000 Sales Returns and Allowances 3,420 Sales Discounts 3,000 Cost of Goods Sold 220,000 Salaries Expense 150,000 Utilities Expense Interest Expense 103,000 11,000 $5,670,780 $5,670,780 Page 2 Question 1 (cont'd) Other data: 1. $600 of supplies have been used during the month 2. Insurance expires at the rate of $4,000 per month. 3. Annual deprecation is $4,400 on office equipment and $3,000 on the building. There has been no adjustment to account for depreciation for the year to date. 4. Unearned revenue of $2,000 was earned prior to December 31. 5. Salaries of $20,000 were unpaid and unrecorded at December 31. 6. The note receivable interest rate is 10%. The note was taken out December 1. 7. Income tax of $5,000 is due but has not yet been recorded. Required: a. Journalize any relevant adjusting entries for the month of December. [15] b. Prepare a multiple-step income statement for the year ended December 31, 2015. c. Prepare a retained earnings statement for the year ended December 31, 2015. d. Prepare a classified balance sheet as at December 31, 2015. [10] 151 [15]