Answer no. 3.

Below is the worksheet.

REYNOLD YOUNG GEARS Chart of Accounts * Should be properly classified as to Distribution costs, Administrative costs, and Finance costs in the functional form Statement of Profit or Loss and its notes. An Excel spreadsheet is provided for you with the following tabs: - WS (for 10-column worksheet) - with unadjusted Trial Balance on November 30,2022 - SPL (for Statement of Profit or Loss) - SOE (for Statement of Owner's Equity) - SFP (for Statement of Financial Position) - NOTES (for Notes to Financial Statements) - PCTB (for Post-Closing Trial Balance) - GJ (for General Journal) - GL (for General Ledger) - with balances before adjustments INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November 1 , the company paid $90,000 for a 6 -month insurance contract with Assurance Guaranteed. (b) On November 21 , the company issued a 90-day 6% note for money borrowed from Green Loan amounting to $150,000. (c) On November 22, STEAM Trading contracted the company to deliver specialized hardware. The company received $53,600 in advance from STEAM Trading. $23,600 worth of parts have been delivered by month-end. (d) On November 30, the company has earned commissions of $8,000 from Steadfast Faith Company for goods sold on consignment basis. This remains to be uncollected at monthend. (e) On November 30, the company received its utilities bill for the month of November amounting to $23,000. This remains to be unpaid at month-end. (f) On November 30, Store Supplies costing $5,000 were on hand. (g) The company purchased the equipment on July 1, 2022. The equipment was estimated to have a useful life of five years and a residual value of 10% of the cost. (h) The company purchased the furniture on July 1, 2022. The furniture was estimated to have a useful life of four years with no residual value. (i) The allowance for doubtful accounts is estimated at 3% of accounts receivable. (j) Based on a physical count, ending inventory was determined to be $130,000. 3) Prepare a functional form Statement of Profit or Loss for the month ended November 30, 2022 [SPL]. Include any supporting notes to financial statements [NOTES]. Cleaning Services Expense, Insurance Expense, Rent Expense, and Utilities Expense are allocated as follows: Office: 40% Store: 60% Worksheet for the month ended November 30, 2022