NEED ANSWERS FROM 12-19, and ANALYSIS..

Problem 13.4A Journalizing adjusting, closing, and reversing entries. LO 13-4, 13-5, 13-7 Healthy Eating Foods Company is a distributor of nutritious snack foods such as granola bars. On December 31, 2019, the firm's general ledger contained the accounts and balances that follow. 78,000 Account Name Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Office Equipment Accumulated Depr.-Office Equipment Warehouse Equipment Accumulated Depr.-Warehouse Equipment Notes Payable-Bank Accounts Payable Interest Payable Social Security Tax Payable Medicare Tax Payable Federal Unemployment Tax Payable State Unemployment Tax Payable Salaries Payable Phillip Tucker, Capital Phillip Tucker, Drawing Sales Sales Returns and Allowances Purchases Purchases Returns and Allowance Income Summary Rent Expenses Telephone Expense Salaries Expense Payroll Taxes Expense Supplies Expense Insurance Expense Depr. Expense-Office Equipment Depr. Expense-Warehouse Equipment Uncollectible Accounts Expense Interest Expense Totals Net Income Healthy Eating Foods Company Worksheet Year Ended December 31, 2019 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit $ 30,100.00 $ 30,100.00 $ 30,100.00 35,200.00 35,200.00 35,200.00 420.00 2,800.00 3, 220.00 3, 220.00 86,000.00 78,000.00 86,000.00 78,000.00 78,000.00 10,400.00 9, 220.00 1,180.00 1,180.00 5,400.00 3,600.00 1,800.00 1,800.00 8,300.00 8,300.00 8,300.00 2,650.00 1, 325.00 3,975.00 3,975.00 28,000.00 28,000.00 28,000.00 9,600.00 4,800.00 14,400.00 14,400.00 32,000.00 32,000.00 32,000.00 12,200.00 12,200.00 12,200.00 640.00 640.00 640.00 1,680.00 310.00 1,990.00 1,990.00 388.00 72.50 460.50 460.50 30.00 30.00 30.00 270.00 270.00 270.00 5,000.00 5,000.00 5,000.00 108, 684.00 108, 684.00 108,684.00 56,000.00 56,000.00 56,000.00 653,778.00 653,778.00 653, 778.00 10,000.00 10,000.00 10,000.00 350,000.00 350,000.00 350,000.00 9,200.00 9,200.00 9,200.00 86,000.00 78,000.00 86,000.00 78,000.00 86,000.00 78,000.00 36,000.00 36,000.00 36,000.00 2,200.00 2,200.00 2,200.00 160,000.00 5,000.00 165,000.00 165,000.00 13,000.00 682.50 13, 682.50 13, 682.50 9, 220.00 9, 220.00 9, 220.00 3,600.00 3,600.00 3,600.00 1, 325.00 1, 325.00 1, 325.00 4,800.00 4,800.00 4,800.00 2,800.00 2,800.00 2,800.00 640.00 640.00 640.00 $830, 600.00 $830, 600.00 $ 192,067.50 $ 192,067.50 $923, 847.50 $923, 847.50 $685, 267.50 $740, 978.00 $ 238, 580.00 $182,869.50 55, 710.50 55,710.50 $740,978.00 $740,978.00 $238,580.00 $238,580.00 Required: 1. Record adjusting entries in the general journal as of December 31, 2019. 2. Record closing entries in the general journal as of December 31, 2019. 3. Record reversing entries in the general journal as of January 1, 2020. Analyze: Assuming that the firm did not record a reversing entry for salaries payable, what entry is required when salaries of $6,000 are paid on January 3? Complete this question by entering your answers in the tabs below. Record the adjustment for beginning inventory. 2 Record the adjustment for ending inventory. During 2019, the firm had net credit sales of $560,000; past experience indicates that 0.5 percent of these sales should result in uncollectible accounts. On December 31, 2019, an inventory of supplies showed that items costing $1,180 were on hand. 5 On May 1, 2019, the firm purchased a one-year insurance policy for $5,400. On January 2, 2019, the firm purchased office equipment for $8,300. At that time, the equipment was estimated to have a useful life of six years and a salvage value of $350. On January 2, 2019, the firm purchased warehouse equipment for $28,000. At that time, the equipment was estimated to have a useful life of five years and a salvage value of $4,000. On November 1, 2019, the firm issued a four-month, 12 percent note for $32,000. On December 31, 2019, the firm owed salaries of $5,000 that will not be paid until 2020. 10 On December 31, 2019, the firm owed the employer's social security tax (assume 6.2 percent) and Medicare tax (assume 1.45 percent) on the entire $5,000 of accrued wages. On December 31, 2019, the firm owed the federal unemployment tax (assume 0.6 percent) and the state unemployment tax (assume 5.4 percent) on the entire $5,000 of accrued wages. 12 Prepare the closing entry for revenue and other credit items. 13 Prepare the closing entry for expenses and other debit items. 14 Record the closing entry for the balance of income summary. 15 Record the closing entry for the drawing account. 16 Record the reversing entry for interest. 17 Record the reversing entry for salaries. 18 Record the reversing entry for social security & Medicare. 19 Record the reversing entry for federal & state employment taxes. Reg 1 to 3 Analyze Record adjusting entries and closing entries in the general journal as of December 31, 2019 and reversing entries as of January 1, 2020. (Round your answers to 2 decimal places.) General Journal Credit No 1 Date Dec 31, 2019 Debit 86,000.00 Income summary Merchandise inventory 86,000.00 Dec 31, 2019 78,000.00 Merchandise inventory Income summary 78,000.00 Dec 31, 2019 Uncollectible accounts expense 2,800.00 Allowance for doubtful accounts 2,800.00 Dec 31, 2019 9,220.00 Supplies expense Supplies 9,220.00 Dec 31, 2019 3,600.00 Insurance expense Prepaid insurance 3,600.00 Dec 31, 2019 1,325.00 Depreciation expense-Office equipment Accumulated depreciationOffice equipment 1,325.00 | Dec 31, 2019 4,800.00 Depreciation expense-Warehouse equipment Accumulated depreciation-Warehouse equipment 4,800.00 Dec 31, 2019 640.00 Interest expense Interest payable 640.00 Dec 31, 2019 Salaries expense 5,000.00 Salaries payable 5,000.00 Dec 31, 2019 640.00 Interest expense Interest payable 640.00 Dec 31 2019 Salaries expense 5,000.00 Salaries payable 5,000.00 10 Dec 31, 2019 382.50 Payroll taxes expense Social security tax payable Medicare tax payable 310.00 72.50 Dec 31, 2019 300.00 Payroll taxes expense Federal unemployment tax payable State unemployment tax payable 30.00 270.00 Dec 31, 2019 Purchases returns and allowances 9,200.00 13 Dec 31, 2019 No Transaction Recorded Req 1 to 3 Analyze Assuming that the firm did not record a reversing entry for salaries payable, what entry is required when salaries of $6,000 are paid on January 3? No Date General Journal Debit Credit