Work Sheet Lundberg Company had the following trial balance columns on its work sheet: Lundberg Company Trial Balance December 31, 20-- ACCOUNT TITLE Cash DEBIT BALANCE CREDIT BALANCE 30,300 Government Notes 5,000 Interest Receivable Accounts Receivable 34,000 Allowance for Doubtful Accounts 530 Finished Goods Inventory 24,000 Work in Process Inventory 9,000 Materials Inventory Office Supplies 8,500 3,100 Factory Supplies 3,800 Land 100,000 Factory Building 120,000 Accumulated Depreciation-Factory Building 10,000 Factory Equipment 40,000 Accumulated Depreciation-Factory Equipment 5,000 Accounts Payable 13,800 Income Tax Payable Interest Payable Bonds Payable Capital Stock Paid-In Capital in Excess of Par Retained Earnings Cash Dividends Sales Interest Revenue Factory Overhead 80,000 50,000 30,000 92,400 30,000 405,100 300 78,630 89,300 Cost of Goods Sold 190,700 Wages Expense 70,000 Office Supplies Expense Bad Debt Expense Utilities Expense-Office 4,400 Interest Expense 7,000 Income Tax Expense 18,000 776,430 776,430 Data for adjusting the accounts are as follows: (a) Factory overhead to be applied to work in process ending inventory $3,100 (b) Interest receivable 75 (c) Interest payable 600 (d) Estimate of uncollectible accounts, based on an aging of accounts receivable 2,930 (e) Office supplies consumed 2,900 (f) Factory supplies consumed (g) Factory building depreciation (h) Factory equipment depreciation (1) Overapplied factory overhead (1) Provision for corporate income taxes 3,300 5,000 4,000 1,470 6,100 (k) Physical counts of the Inventories agreed with the amounts in the books. 1. Prepare a work sheet. If an amount box does not require an entry, leave it blank. Lundberg Company Work Sheet For Year Ended December 31, 20- Adjusted Trial Balance. Trial Balance Account Title Adjustments Income Statement Balance Sheet Cash Debit Credit 30,300 Debit Credit Debit Credit Debit Credit Debit Credit 30,300 Government Notes 5,000 5,000 V Interest Receivable 75 75 Accounts Receivable 34,000 34,000 30,300 5,000 75 34,000 Allowance for Doubtful Accounts 530 2,400 2,930 2,930 Finished Goods Inventory 24,000 24,000 24,000 Work in Process Inventory 9,000 13,100 V 12,100 12,100 Materials Inventory Accounting numeric field 8,500 8,500 Office Supplies 3,100 2,900 200 Factory Supplies 3,800 3,300 500 Land 100,000 100,000 Factory Building 120,000 120,000 8,500 200 500 100,000 120,000 Accum. Depr-Factory Building 10,000 5,000 15,000 15,000 Factory Equipment 40,000 40,000 40,000 Accum. Depr-Factory Equip 5,000 4,000 9,000 9,000 geoWv2 | Online teaching and learning resource from Accounts Payable 13,800 Income Tax Payable Interest Payable 6,100 Bonds Payable 80,000 Capital Stock 50,000 Paid-In Capital in Excess of Par 600 13,800 6,100 V 600 80,000 50,000 13,000 6,100 30,000 Retained Earnings. 92,400 Cash Dividends 30,000 Sales Interest Revenue 405,100 300 75 Factory Overhead 600 00,000 50,000 30,000 30,000 92,400 V 92,400 30,000 30,000 405,100 405,100 375 375 78,630 89,300 (a) and (f)] (0) 3,100 (h) 3,300 x (1) 5,000 x Cost of Goods Sold 190,700 4,000 X 1,470 X 189,230 v 189,230 Wages Expense 70,000 70,000 office Supplies Expense 2,900 V 2,900 V 70,000 2,900 Bad Debt Expense 2,400 2,400 2,400 V Utilities Expense-Office 4,400 4,400 4,400 Interest Expense 7,000 600V 7,600 v 7,600 Income Tax Expense 18,000 6,100 v 24.100 Interest Expense 7,000 600 V 7,600 7,600 Income Tax Expense 18,000 6,100 v 776,430 776,430 28,945 v 28,945 v 24,100 705,305 X 24,100 705,305 300,630 v 405,475 Net Income t