Vicki's Fabric Store shows the trial balance on page 603 as of December 31, 20-1. At the end of the year, the following adjustments need to be made:

(a and b) Merchandise inventory as of December 31, $31,600.
(c) Unused supplies on hand, $1,150.
(d) Insurance expired, $350.
(e) Depreciation expense for the year, $700.
(f) Wages earned but not paid (Wages Payable), $520.
(g) Unearned revenue on December 31, 20-1, $1,200.
Vicki's Fabric Store
Trial Balance
For Year Ended December 31, 20-1

REQUIRED
1. Prepare a work sheet.
2. Prepare adjusting entries.
3. Prepare closing entries.
4. Prepare a post-closing trial balance.
5. Prepare reversingentry(ies).

Transcribed Image Text:

Paulson's Pet Store Work Sheet For Year Ended December 31,20- TRIAL PALANCE ADIUSTED TRIAL BALANCE NCOME STATEMENT BALANCE SHEE ACCOUNT TITLE 23400 2Accounts Receivable 3Merchandise Inwantory 15 000 00 800 00 向16( 5 0 01001 (a) 15 0 0 0:001 16 50 0001 |200001 160000 (d 50 0045000 Prepaid Insurance 6 Equipmant 7Accum Dep Equipmant 8 Accounts Payable 9Wages Payable 0 Sales Ta Payable 11 Motgage Payatle 12 B. Paulsan, Capital 13 B. Paulsan, Drawing 14 Incorne Summary 50000 (e) 450 489000 4 890 00 8 300 00 4000 23 900 40α0 00 11 23 900 00 12000 200 |(s) 15| 000/001釗16: 5 0 0 00{1500| 0| 0016 5 001 00 15000| 00116500| 7 51000 00 71 51000 13 4 000 40 6 6 000 1340 40 660 16 Salas Retorns and Alowancas 17 PuchaSES 18 Puchases Raturns and Alowances 19 Puchasss Discousts 20 Foight- 21 Wages Expense 22 Advortising Expense 23 Supplies Expense 24 Telaphone Expons 25 Utilities Expense 26 haranco Expors 27 Dpr Epense- Equpment 28 Msca lanaxus Experse 9herest Epense 13 40 00 40 66000 10 2000 80000 102000 800 102000 4000 22 3000 300 00 300 00 22 60000 22 60 000 c) 200 00 200 6 840 1 5 000 9) 450 00 15000 45 000 15000 450,00 50 00 107 4 3 0 00107 43 0001 ヱ16:00'00| 32 6 0 0 00124 6 8 000 124 6 8 0 00 a2730100|89| 8 3 0 00: 41 g 5000 3485 000 30 710000 31 89 83000 89 83000 41 95 000 41 9 5 0 0032 31 Net home 7 100 00 Cash Accounts Receable Merchandise Inventory Supplies Prepaid Insurance Equipment Accamslated Depreciatis-Equipment Acco unts Payable Wages Payable Sales Tax Payable Unearned Revene Vicki Roberts, Capital Vicki Reberts, Drawing IncomeSummary Sales Sales Reums and Allowances nteret Revou Purchases Purchases Returns and Alowancrs Purchases Discounts Froight-n Wages Expense Advertising Expease SuppliesExperse Telephone Experse Utilities Expense Insurance Expense Depredation Expanse Equipment Miscellaneous Expense Interest Expense 2810.0.0 “ 14 2 00 00 33 0 0 0 00 6 0 0 00 9 0 0 00 6 6 0 0 00 10 0000 15 6 2 0 00 5 0 0 0 00 71 2 00 00 21 6 1 000 74 5 00 00 8 5 000 41 5 00 00 18 00 00 8 3 0 00 14 8 8 0 00 12 1 0 00 3 2 4 0 00 102 000 172 0 0 000172 0 0 0 00