Critical Thinking Problem $12\mathrm{.}1($Algo$)$ Completing the Worksheet LO $12-1,12-2,12-3,12-4$ Complete this question by entering your answers in the tabs below.

Req $1$

Req $2$

Req $3$

Req $4A$

Req $4$B

Req $4C$

Req $4D$

Req $4E$

Analyze

Complete the worksheet.

Note: Enter both the debit and credit effects wherever required. Journalize the adjusting entries on December $31,201.$

Journal entry worksheet

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Record beginning inventory adjustment.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[\backslash$table$[[$December $31,],[20$X$1]],,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$ Compute the net delivered cost of purchases.Compute the cost of goods sold.

Following is the unadjusted trial balance of Ben's Jewelers on December $31,20$X$1.$

Required:

Complete the worksheet using the following information:

a$.-$b$.$ Ending merchandise Inventory. $$99,100.$

c$.$ Uncollectible accounts expense, $$1,400.$

d$.$ Store supplies on hand December $31,20$ X$1,$ $$665.$

e$.$ Office supplies on hand December $31,201,$$$345.$

f$.$ Depreclation on store equipment, $$11,400.$

g$.$ Depreclation on office equipment, $$3,460.$

h$.$ Accrued sales salarles, $$4,400,$ and accrued office salarles, $$1,400.$

Social security tax on accrued salarles, $$342$; Medicare tax on accrued salarles, $$84.($Assumes that tax rates have increased.$)$

J$.$ Federal unemployment tax on accrued salarles, $$64$; state unemployment tax on accrued salarles, $$286.$

Journalize the adjusting entrles on December $31,20$X$1.$

Journalize the closing entries on December $31,20$X$1.$

Compute the following:

a$.$ net sales

b$.$ net dellvered cost of purchases

c$.$ cost of goods sold

d$.$ net Income or net loss

e$.$ balance of Ben Waltes, Capital on December $31,20$X$1.$

Analyze:

What change$($s$)$ to Ben Waltes, Capltal will be reported on the statement of owner's equity?