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Spreadsheet

Lundberg Company had the following trial balance columns on its spreadsheet: The trial balance of Lundberg Company is shown in its spreadsheet.

Data for adjusting the accounts are as follows:

(a)	Factory overhead to be applied to work in process ending inventory	$3,100
(b)	Estimate of this year's sales that will be returned next year	590
(c)	Cost of goods expected to be returned	260
(d)	Interest receivable	75
(e)	Interest payable	620
(f)	Estimate of uncollectible accounts, based on an aging of accounts receivable	2,400
(g)	Office supplies consumed	2,900
(h)	Factory supplies consumed	3,300
(i)	Factory building depreciation	5,000
(j)	Factory equipment depreciation	4,000
(k)	Overapplied factory overhead	1,470
(l)	Provision for corporate income taxes	6,100
(m)	Physical counts of the inventories agreed with the amounts in the books.

Additional information needed to prepare the financial statements is as follows:

Beginning inventories:
Finished goods, January 1	$18,000
Work in process, January 1	7,400
Materials inventory, January 1	9,600
Materials purchases for the year	31,510
Direct labor	80,000
Actual factory overhead	90,920
Indirect materials charged to production	3,500

1. Prepare a 6-column spreadsheet.

Enter factory overhead and cost of goods sold amounts in the order presented.

End-of-Period Spreadsheet For Year Ended December 31, 20-- Trial Balance Adjustments Adjusted Trial Balance Account Title Debit Credit Debit Credit Debit Credit Cash 30,300.00 Government Notes 5,000.00 Interest 34,000.00 540.00 24,000.00 Receivable Accounts Receivable Allow. for Doubtful Accounts Finished Goods Inventory Work in Process Inventory Materials Inventory Estimated Returns Inventory Office Supplies Factory Supplies 9,000.00 8,600.00 50.00 3,100.00 3,800.00 Land 100,000.00 Factory Building 120,000.00 Accum. 10,000.00 Depr.- Factory Build. Factory Equipment 40,000.00 Accum. Depr.- Factory Equip. 5,000.00 Accounts 13,800.00 Payable Customer 110.00 Refunds Payable Income Tax Payable Interest Payable Bonds Payable Capital Stock ILII 80,000.00 II 001 50,000.00 Paid-In Capital in Excess of Par 30,000.00 Retained Earnings 93,090.00 Cash Dividends 30,000.00 Sales 410,740.00 6,200.00 Sales Returns and Allowances Interest Revenue Factory Overhead 200.00 78,630.00 89,300.00 Cost of Goods Sold 190,700.00 Wages Expense 70,000.00 Office Supplies Expense Bad Debt Expense Utilities Expense-Office 4,400.00 Interest Expense 7,000.00 Income Tax Expense 18,000.00 782,780.00 792,780.00 Net Income