AwN ACC 3110 - Intermediate II Pets in a JAR Spring 2020 Case Information Pets in a JAR (hereinafter JAR) is a retail pet store. The unadjusted trial balance for JAR as of 12/31/19 is included on the worksheet page. JAR makes ANNUAL adjusting entries. In addition to the trial balance, the controller's group has compiled the following information to facilitate the preparation of year-end financial statements: Put your name at the top of the worksheet. Save your work as JAR1 your first initial and last name, for example my file would be JAR1.Rromanus 1. JAR purchased an insurance policy on 8/1/19 that is effective 8/1/19 to 7/31/20. 2. Employees worked a total of $1,440 between the last pay date and 12/31/19 that will 8 be paid on 1/3/20. 3. JAR determined that a $350 receivable from Lucky's Lively Llamas is not collectible. JAR uses the A/R (balance sheet) allowance method for bad debts. 4 JAR took a physical count of supplies on 12/31/19 and there was $456 left in the 10 supply closet. 5. JAR has a note payable to Bank of America (hereinafter BOA) for $50,000 at an annual interest rate of 3%. The five-year note is dated 4/30/19 and pays interest 11 annually every 4/30. 6. On 12/31/19 JAR sold $5,000 of merchandise to Patty's Pet Groomers. Patty paid for the merchandise but JAR cannot deliver it until 1/6/20. JAR has included the $5,000 12 in Cash and Sales on the unadjusted trial balance. 7. An analysis completed by the controller's office, using the balance sheet (A/R) approach, indicates that 5% of total accounts receivable is uncollectible. (Round to 13 nearest whole dollar). 8. JAR uses a FIFO perpetual inventory system. A physical count of invenotry reveals $10,908 of inventory on hand at year end. (Do not use an inventory over/short 14 account) 10.JAR owns a building that was purchased in 2015 for $248,500. The building is being depreciated using straight line over a 20 year useful life and has a $74,500 salvage value. JAR's controller wants to find the orginal invoice for the building purchase and belives the invoice was filed by month of purchase, what month in 2015 15 was the building purchased? 11. JAR owns a forklift for moving freight that was purchased in 2016 for $9,300. The forklift is being depreciated using straight line over a 10 year useful life and has a 16 $2,100 salvage value. 12. JAR has one investement currently classified as Available for Sale, as of 12/31/19 ARIA 21 Information Sat e rdoba the first the inte AwN ACC 3110 - Intermediate II Pets in a JAR Spring 2020 Case Information Pets in a JAR (hereinafter JAR) is a retail pet store. The unadjusted trial balance for JAR as of 12/31/19 is included on the worksheet page. JAR makes ANNUAL adjusting entries. In addition to the trial balance, the controller's group has compiled the following information to facilitate the preparation of year-end financial statements: Put your name at the top of the worksheet. Save your work as JAR1 your first initial and last name, for example my file would be JAR1.Rromanus 1. JAR purchased an insurance policy on 8/1/19 that is effective 8/1/19 to 7/31/20. 2. Employees worked a total of $1,440 between the last pay date and 12/31/19 that will 8 be paid on 1/3/20. 3. JAR determined that a $350 receivable from Lucky's Lively Llamas is not collectible. JAR uses the A/R (balance sheet) allowance method for bad debts. 4 JAR took a physical count of supplies on 12/31/19 and there was $456 left in the 10 supply closet. 5. JAR has a note payable to Bank of America (hereinafter BOA) for $50,000 at an annual interest rate of 3%. The five-year note is dated 4/30/19 and pays interest 11 annually every 4/30. 6. On 12/31/19 JAR sold $5,000 of merchandise to Patty's Pet Groomers. Patty paid for the merchandise but JAR cannot deliver it until 1/6/20. JAR has included the $5,000 12 in Cash and Sales on the unadjusted trial balance. 7. An analysis completed by the controller's office, using the balance sheet (A/R) approach, indicates that 5% of total accounts receivable is uncollectible. (Round to 13 nearest whole dollar). 8. JAR uses a FIFO perpetual inventory system. A physical count of invenotry reveals $10,908 of inventory on hand at year end. (Do not use an inventory over/short 14 account) 10.JAR owns a building that was purchased in 2015 for $248,500. The building is being depreciated using straight line over a 20 year useful life and has a $74,500 salvage value. JAR's controller wants to find the orginal invoice for the building purchase and belives the invoice was filed by month of purchase, what month in 2015 15 was the building purchased? 11. JAR owns a forklift for moving freight that was purchased in 2016 for $9,300. The forklift is being depreciated using straight line over a 10 year useful life and has a 16 $2,100 salvage value. 12. JAR has one investement currently classified as Available for Sale, as of 12/31/19 ARIA 21 Information Sat e rdoba the first the inte