Question: The December 31 2011 unadjusted trial balance for the Wolkstei

The December 31, 2011, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's fiscal year-end.

The following year-end adjusting entries are required:
a. Depreciation expense for the year on the equipment is $10,000.
b. The company has determined that the allowance for uncollectible accounts should be $5,000.
c. Accrued wages payable at year-end should be $4,000.

1. Prepare and complete a worksheet similar to Illustration 2A–1.
2. Prepare an income statement for 2011 and a balance sheet as of December 31, 2011.

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