Question

3. The following accounts at 12/31/2020 are listed in alphabetical order. Create a worksheet. Record the adjusting entries (info below) on the worksheet and complete the worksheet. Prepare a multiple step income statement, Statement of Retained Earnings and a Classified Balance Sheet for 2020. Debit Credit 6,400 5,700 19,000 11,000 15,000 6,500 600 42,000 4,000 5,000 27,400 4,035 Account Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation Equipment Additional Pald in Capital Administrative Expenses Allowance for Dountful Accounts Buildings Common Stock, $1 par Cash Cost of Goods Sold Current Income Taxas Payable Dividends Equipment Income Tax Expense Interest Expense Interest Payable Inventory Land Note Payable (due March 2024) Prepaid Insurance Rent Revenue Retained Earnings January 1, 2020 Sales Revenue Selling Expenses Unearned Rent Wages Payable Total 2,400 22,000 4,035 10.800 6,800 10,000 1,600 3.500 14.500 54.900 9,700 143,93 1,000 143,935 Adjustment information: you may have to add accounts to the worksheet) 1. Accrue Interest expense, 5650. 2. Record depreciation, building - $4,200, equipment - $2,200 3. Allowance for Doubtful Accounts should be $750. 4. Rent received in advance of $1000 for the year 2021 was recorded as Rent Revenue. (You need to complete the entire worksheet and the formal financial statements.) Focus I U A bd

i need to create the worksheet

Answer 1

A B С DE F G 69 Work sheet 70 Unadjusted Trial Balance Adjusting Entries ljusted Trial Balan 71 Account Titles Debit Credit Debit Credit Debit Credit 72 Account Payable 64001 6400 73 Accounts Receivable 57001 5700 74 Accumulated Depreciation - Building 19000 4200 23200 75 Accumulated Depreciation - Equipment 11000 2200 13200 76 Additional Paid in Capital 150001 15000 77 Administrative Expenses 6500 6500 78 Allowance for Dountful Accounts 6001 150 750 79 Bad debt expense 1501 150 80 Buildings 42000 42000 81 Common Stock $1 par 4000 4000 82 Cash 5000 5000 83 Cost of Goods Sold 27400 27400 84 Current Income Taxas Payable 4035 4035 85 Depreciation Expense- Building 4200 4200 86 Depreciation Expense- Equipment 2200 2200 87 Dividends 2400 2400 88 Equipment 22000 22000 89 Income Tax Expense 4035 4035 90 Interest Expense 650 650 91 Interest Payable 650 650 92 Inventory 10800 10800 93 Land 6800 6800 94 Note Payable (due March 2024) 10000 10000 95 Prepaid Insurance 1600 1600 96 Rent Revenue 3500 1000 2500 97 Retained Earnings, January 1, 2020 145001 145001 98 Sales Revenue 54900 54900 99 Selling Expenses 9700 9700 100 Uneamed Rent 1000 1000 101 Wages Payable 1000 1000 102 Total 143935 143935 8200 8200 151135| 151135 102

4000 A B с D E F G 69 Work sheet 70 Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance 71 Account Titles Debit Credit Debit Credit Debit Credit 72 Account Payable 6400 =C72 73 Accounts Receivable 5700 5700 74 Accumulated Depreciation - Building 19000 4200 =C74+E74 75 Accumulated Depreciation - Equipment 11000 2200 =C75+E75 76 Additional Paid in Capital 15000 =C76 77 Administrative Expenses 6500 =B77 78 Allowance for Dountful Accounts 600 150 =C78+E78 79 Bad debt expense 150 150 80 Buildings 42000 =B80 81 Common Stock $1 par =C81 82 Cash 5000 =B82 83 Cost of Goods Sold 27400 =B83 84 Current Income Taxas Payable 4035 =C84 85 Depreciation Expense- Building 86 Depreciation Expense-Equipment 2200 =D86 87 Dividends 2400 =B87 88 Equipment 22000 =B88 89 Income Tax Expense =B89 90 Interest Expense 650 =D90 91 Interest Payable 650 =E91 92 Inventory 10800 =B92 93 Land 6800 =B93 94 Note Payable (due March 2024) 10000 =C94 95 Prepaid Insurance 1600 =B95 96 Rent Revenue 3500 1000 =C96-D96 97 Retained Earnings, January 1, 2020 14500 =C97 98 Sales Revenue 54900 1=C98 99 Selling Expenses 9700 =B99 100 Uneamed Rent 1000 =E100 101 Wages Payable 1000 =C101 102 Total =SUM(B72:B101) =SUM(C72:C101) =SUM(D72:D101) =SUM(E72:E101) =SUM(F72:F101) =SUM(G72:G101) 102 4200 =D85 4035