Problem 12.6A Recording adjustments and completing the worksheet. LO 12-1, 12-2, 12-3, 12-4

The Artisan Wines is a retail store selling vintage wines. On December 31, 2019, the firms general ledger contained the accounts and balances below. All account balances are normal.

Cash	$	28,386
Accounts Receivable		500
Prepaid Advertising		480
Supplies		300
Merchandise Inventory		15,000
Store Equipment		25,000
Accumulated DepreciationStore Equipment		3,000
Office Equipment		5,000
Accumulated DepreciationOffice Equipment		1,500
Notes Payable, due 2020		20,000
Accounts Payable		2,705
Wages Payable
Social Security Tax Payable
Medicare Tax Payable
Unearned Seminar Fees		6,000
Interest Payable
Vincent Arroyo, Capital		32,700
Vincent Arroyo, Drawing		14,110
Income Summary
Sales		153,970
Sales Discounts		200
Seminar Fee Income
Purchases		91,000
Purchases Returns and Allowances		1,000
Freight In		225
Rent Expense		13,200
Wages Expense		24,000
Payroll Taxes Expense		3,324
Depreciation ExpenseStore Equipment
Depreciation ExpenseOffice Equipment
Advertising Expense
Supplies Expense
Interest Expense		150

ADJUSTMENTS:

a.b. Merchandise inventory at December 31, 2019, was counted and determined to be $13,000.

The amount recorded as prepaid advertising represents $480 paid on September 1, 2019, for 12 months of advertising.

The amount of supplies on hand at December 31 was $160.

Depreciation on store equipment was $3,000 for 2019.

Depreciation on office equipment was $1,125 for 2019.

Unearned Seminar Fees represent $6,000 received on November 1, 2019, for six seminars. At December 31, four of these seminars had been conducted.

Wages owed but not paid at December 31 were $500.

On December 31, 2019, the firm owed the employers social security tax ($31.00) and Medicare tax ($7.25).

The note payable bears interest at 6 percent per annum. One months interest is owed at December 31, 2019.

Required:

Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 2019.

Enter the adjustments above in the Adjustments section of the worksheet.

Complete the worksheet.

Analyze: What was the amount of revenue earned by conducting seminars during the year ended December 31, 2019?