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Document No. 27 Print Syifa WAREN SPORTS SUPPLY December 31, 2022 Post-Closing Trial Balance 3 Insert . NO. ACCOUNT TITLE DEBIT CREDIT De CA As roca Allowance for double accounta 10100 1200 10000 10400 10500 10600 10700 10800 10300 1 1000 Prepaid expenses Marketable securities Interest receivable Fored as Accumulated depreciation Notes receivable 20100 20200 20300 20400 20500 20600 20700 20300 20000 21000 21100 Accounts payable Wages and salarien payable Federal income is withold State income taxes withheld Siale unemployment taxes payable Federal unemployment taxes payable FICA Les payabile Federal income tax payable Dividends payable Interest payable Notes payable 26000 27000 28000 29000 Common stock Paid in capital in excess of par Income summary Retained earnings Totals Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5). Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) account ing entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Flowchart page references are included in the third column of the transactions list where appropriate. Some of the following events require the preparation or modification of documents and some do not Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two sym- bols, which determine whether documents from the loose document set in this project must be prepared You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception the annual change in employee pay rates. Hints are provided in bowed areas like this or used: Yes No Trans. 1 Document ? Dec. Flowchart Description Received customer purchase order No: 53426 (Doc No. 4) from Rosemont University, 16th Yes approved their credit and shipped the goods. All goods ordered were shipped, except that only 45 shoulder pad sets were available for shipment. A 18-19 Carrier & number: Allied Trucking. Carrier number 2154 Freight charges: FOB shipping point file, will be paid by Rosemont) Route: Express Truck & driver Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons goal and rim sets @42 lbs/carton 2 cartons/backboards @123 lbs/carton 9 cartons/shoulder pad sets @ 30 lbs./carton 4 cartons/football helmets @32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 1 Trans. 2 2 3 125 None Document? Dec. Flowchart Description Received an email notification from First American Bank and Trust for an ACH 16th Yes payment from Branch College. ACH payment received was $1,622.88 for payment in full of charge sale invoice No.730. A 21 Because Branch College paid within ten days of the original sale, be sure to record the applicable discount. Ordered the following inventory on account from Velocity Sporting Goods, 16th Yes using purchase order No. 328 (Doc. No. 16). Units Item# Description A 22 115 B8-019 Basketball pole pad BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 B8-399 Basketball net 100 FB-027 Shoulder pad set to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave, Pierre, SD 57501 Freight carrier. Interstate Motor Freight Freight charges FOB shipping point que, will be paid taber by Waren) Allowances: Use purchase order No. 325 (Doc. No. 16) as a as a guide Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order 19th Yes No. 327(Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All p22 supplies ordered were received in good condition and taken directly to the office but the invoice was not paid. 19th Yes Borrowed 590,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the 590,000 proceeds were electronically deposited 221 into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart. File the note in the Shipping/Banking filetab 19th Yes Received sales return request No. R8034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. P20 You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University Received vendor invoice No. 105963 (Doc. No. 18) from First Security Insurance for 20th Yes the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No 20) for payment in full. P23 Purchase orders are not issued for services that Waren purchases. 4 5 6 7 2 8 9 Trans. Document ? Dec. Flowchart Description 20th No Increased employee pay rates effective for the December 16th-31st semimonthly pay period. There were no changes in filing status or withholding allowances. New Pay Rate NA Ray Kramer $3,650 semimonthly Jim Adams $21.80 per hour Nancy Ford $18.30 per hour No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. Received merchandise from Velocity Sporting Goods as listed on purchase 20th Yes order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 85 basketball pole pads 22 Item No.B8-019) were received. The goods were placed immediately in the inventory warehouse You can't record a purchase yet because the invoice hasn't been received 10 21st Yes Filled the backorder quantity of 30 shoulder pad sets for Rosemont University's customer purchase order No 53426 (Doc. No 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice 18-19 (Doc. No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking: Carrier number 2154 Freight charges FOB shipping point (ie, will be paid by Rosemont) Route: Express Truck & driver Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 6 cartons/shoulder pad sets @ 30lbs/carton Rosemont's credit limit is documented in their subsidiary ledger account You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 11 Received vendor invoice No. 34719(Doc. No. 18) from Velocity Sporting Goods for 22nd Yes goods ordered December 16th and received December 20th. p22 Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. 12 Received legal notification from Benson, Rosenbrook, and Martinson, P.C. 23rd No attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. . Remember that Waren Sports Supply uses the "Allowance method rather than "Direct write-off" for accounting for bad debts. Shop A 19 3 Trans. # 13 14 15 Document ? Dec. Flowchart Description 23rd Yes Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance P 20 Process and record the sales return now. For guidance on completing the sales return request, see page 42 of the Reference book 27th Yes Received check No 49326 (Doc. No. 8) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge sale invoice No. 729. P21 Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply Cash receipts preist is Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc. No. 8) for $5,835 and customer purchase order No 27th Yes H8241 (Doc No. 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank P21 deposit for this cash sale plus today's collection from Eastern Wisconsin University Received validated deposit recepe (DocNo. 11) from the bank after deposit was made Carrier & number. Interstate Motor Freight:Carrier number 62XY404 Freight charges: FOB shipping point file will be paid by Hawkins College Route: Direct Truck & driver Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs 14 lbs/carton 15 cartonship, tail and arm pad sets 32 lbs./carton 5 cartons/footballse 24 lbs/carton Record this cash receipt and process the bank deposit for the day. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Received vendor Invoice No. 72654 Doc. No. 18) from University Athletic News for 28th Yes advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. 223 16 17 28th Yes Received freight bil 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th, issued check (Doc. No. 20) to Interstate Motor Freight for the full amount of the freight bill 223 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization No. 6-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th. Consider the credit terms before determining the amount of the electronic payment. P23 A Trans. 19 20 Document? Dec. Flowchart Description Received the standing workstations ordered on Waren's purchase order 29th Yes No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and 2.22 taken directly to the office. The estimated useful life is 5 years with no salvage value. Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams 30th Yes for the time period ended December 31st and prepared the payroll for all three employees, including paychecks. Federal and state withholding amounts for each A24 employee are as follows Income Tax Withholding Amounts Federal State of Illinois Ray Kramer $321.00 $171.29 Jim Adams S205.00 $100,63 Nancy Ford $ 78,00 $ 74.74 Paychecks are considered "Mailed/Given to Outsiders. Time record reports are filed in the "Accounting file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Yes Monthly Statement - Prepare a monthly statement (Doc. No. 15) for Rosemont University. No YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $202,920.00. Bad Debt Expense - The expense for bad debts is estimated at the end of the year as one- half of one percent (0.005) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. 5 Document No. 26 WAREN SPORTS SUPPLY DECEMBER 31, 2022 YEAR-END WORKSHEET 12-31-21 POST-CLOSING TRIAL BALANCE DEBIT CREDIT 010251 DOUS00 3250 31 1006800 12-31-22 UNADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DE LLLLLLL ACCT NO. 10100 10200 10000 10400 OSO 10600 10200 MONDO Cash Ace receive Allowance for del cos levy Prepaid expenses Marketable securities Intereste Fixed assets Accumalated depreciation Nos receive 32064500 SI55150 11000 11211 RIMUM 20100 20000 20300 20400 20500 20600 20700 20800 Accounts payable Wares and sales payable Federal income held Se income withheld State unemployment tres payable Federal unemploymentares payable FICARE Federal income spalle Dividends ble Intere pyable Notes yalle 979 $ 441 95 2910 $331 151370 34747 00 21000 21100 2150000 26000 27000 28000 29000 Common stock Pald-in capital is ces par Income summary Retained carpe FO36494 10100 30000 3000 30500 30600 30700 MONO Sales Sales and we Sales discounts taken Cosis of goods Purchases Purchases returns and allowances Purchases coses taken Freight 30200 31000 31100 31200 Galloss wednes Gairloss on sale of the securities Interestindend income Miscellaneous 40300 40200 40300 10400 40500 40500 40700 40800 40900 41000 Rent expert Advertisingepee Offices Depreciation spee Wages and sales expense Payroll taxes Federal income tax expense Teterest Expense Bad obtespense Other operation cente TOTALS Netice TOTALS A444 4444 ADJUSTMENTS ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT Document No. 27 WAREN SPORTS SUPPLY December 31, 2022 Post-Closing Trial Balance ACCT. NO. ACCOUNT TITLE DEBIT CREDIT 10100 10200 10300 10400 10500 10000 10700 10800 10900 11000 Cash Accounts receivable Allowance for double accounts Inventory Prepaid expenses Marketable securities Interest receivable Fixed assets Accumulated depreciation Notes receivable 20100 20200 20300 20400 20500 20600 20700 20800 20900 21000 21100 Accounts payable Wages and sales payable Federal income taxes withhold State income taxes withold State unemployment taxes payable Federal unemployment tos payable FICARE pable Federal income taxes payable Dividends payable Interest payable No e parable 26000 27000 28000 29000 Common stock Paid.in capital in excess of par Income sutary Retained caming Totals 17 Document No. 27 Print Syifa WAREN SPORTS SUPPLY December 31, 2022 Post-Closing Trial Balance 3 Insert . NO. ACCOUNT TITLE DEBIT CREDIT De CA As roca Allowance for double accounta 10100 1200 10000 10400 10500 10600 10700 10800 10300 1 1000 Prepaid expenses Marketable securities Interest receivable Fored as Accumulated depreciation Notes receivable 20100 20200 20300 20400 20500 20600 20700 20300 20000 21000 21100 Accounts payable Wages and salarien payable Federal income is withold State income taxes withheld Siale unemployment taxes payable Federal unemployment taxes payable FICA Les payabile Federal income tax payable Dividends payable Interest payable Notes payable 26000 27000 28000 29000 Common stock Paid in capital in excess of par Income summary Retained earnings Totals Document No. 1 Transactions List December 16-31, 2022 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions and Flowcharts book (step 5). Remember the importance of the flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) account ing entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Flowchart page references are included in the third column of the transactions list where appropriate. Some of the following events require the preparation or modification of documents and some do not Although documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of two sym- bols, which determine whether documents from the loose document set in this project must be prepared You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception the annual change in employee pay rates. Hints are provided in bowed areas like this or used: Yes No Trans. 1 Document ? Dec. Flowchart Description Received customer purchase order No: 53426 (Doc No. 4) from Rosemont University, 16th Yes approved their credit and shipped the goods. All goods ordered were shipped, except that only 45 shoulder pad sets were available for shipment. A 18-19 Carrier & number: Allied Trucking. Carrier number 2154 Freight charges: FOB shipping point file, will be paid by Rosemont) Route: Express Truck & driver Truck 2961XZ, John Arens Freight rate: $37.00 per 100 lbs. Shipment: 5 cartons goal and rim sets @42 lbs/carton 2 cartons/backboards @123 lbs/carton 9 cartons/shoulder pad sets @ 30 lbs./carton 4 cartons/football helmets @32 lbs./carton Rosemont's credit limit is documented in their subsidiary ledger account. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 1 Trans. 2 2 3 125 None Document? Dec. Flowchart Description Received an email notification from First American Bank and Trust for an ACH 16th Yes payment from Branch College. ACH payment received was $1,622.88 for payment in full of charge sale invoice No.730. A 21 Because Branch College paid within ten days of the original sale, be sure to record the applicable discount. Ordered the following inventory on account from Velocity Sporting Goods, 16th Yes using purchase order No. 328 (Doc. No. 16). Units Item# Description A 22 115 B8-019 Basketball pole pad BB-538 Basketball bag 75 BB-431 Whistle and lanyard - set of 6 50 B8-399 Basketball net 100 FB-027 Shoulder pad set to cover back order and inventory restock) Vendor address: 1285 Colgrove Ave, Pierre, SD 57501 Freight carrier. Interstate Motor Freight Freight charges FOB shipping point que, will be paid taber by Waren) Allowances: Use purchase order No. 325 (Doc. No. 16) as a as a guide Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Received office supplies from Chicago Office Supply as listed on purchase order 19th Yes No. 327(Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All p22 supplies ordered were received in good condition and taken directly to the office but the invoice was not paid. 19th Yes Borrowed 590,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No 14) with a stated annual interest rate of 5.5%. Received an email notification from the bank that the 590,000 proceeds were electronically deposited 221 into Waren's checking account. Reviewed the terms and conditions of the note and signed it (Ray Kramer) as the borrower. Follow the ACH deposit procedures in the flowchart. File the note in the Shipping/Banking filetab 19th Yes Received sales return request No. R8034 (Doc. No. 12) from Eastern Wisconsin University (EWU). The request was approved, and the acknowledgment copy mailed to EWU. P20 You can't record the sales return yet because the goods have not yet been received from Eastern Wisconsin University Received vendor invoice No. 105963 (Doc. No. 18) from First Security Insurance for 20th Yes the fourth quarter's health insurance coverage for employees and immediately issued a check (Doc. No 20) for payment in full. P23 Purchase orders are not issued for services that Waren purchases. 4 5 6 7 2 8 9 Trans. Document ? Dec. Flowchart Description 20th No Increased employee pay rates effective for the December 16th-31st semimonthly pay period. There were no changes in filing status or withholding allowances. New Pay Rate NA Ray Kramer $3,650 semimonthly Jim Adams $21.80 per hour Nancy Ford $18.30 per hour No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. Received merchandise from Velocity Sporting Goods as listed on purchase 20th Yes order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 85 basketball pole pads 22 Item No.B8-019) were received. The goods were placed immediately in the inventory warehouse You can't record a purchase yet because the invoice hasn't been received 10 21st Yes Filled the backorder quantity of 30 shoulder pad sets for Rosemont University's customer purchase order No 53426 (Doc. No 4). Approved Rosemont's credit and shipped the back ordered shoulder pad sets. Prepared a new charge sale invoice 18-19 (Doc. No. 6) for the sale to Rosemont. Carrier & number: Allied Trucking: Carrier number 2154 Freight charges FOB shipping point (ie, will be paid by Rosemont) Route: Express Truck & driver Truck 2988XZ, Jennifer Hansen Freight rate: $37.00 per 100 lbs. Shipment: 6 cartons/shoulder pad sets @ 30lbs/carton Rosemont's credit limit is documented in their subsidiary ledger account You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book 11 Received vendor invoice No. 34719(Doc. No. 18) from Velocity Sporting Goods for 22nd Yes goods ordered December 16th and received December 20th. p22 Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 20th. 12 Received legal notification from Benson, Rosenbrook, and Martinson, P.C. 23rd No attorneys at law, that Stevenson College had filed bankruptcy and will most likely be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. . Remember that Waren Sports Supply uses the "Allowance method rather than "Direct write-off" for accounting for bad debts. Shop A 19 3 Trans. # 13 14 15 Document ? Dec. Flowchart Description 23rd Yes Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance P 20 Process and record the sales return now. For guidance on completing the sales return request, see page 42 of the Reference book 27th Yes Received check No 49326 (Doc. No. 8) for $12,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge sale invoice No. 729. P21 Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply Cash receipts preist is Doc. No. 9. Do not finalize a deposit slip (Doc. No. 10) until you determine whether there are other cash receipts in the form of checks on the same day. Received check No. 47852 (Doc. No. 8) for $5,835 and customer purchase order No 27th Yes H8241 (Doc No. 4) in the mail from Hawkins College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Made a bank P21 deposit for this cash sale plus today's collection from Eastern Wisconsin University Received validated deposit recepe (DocNo. 11) from the bank after deposit was made Carrier & number. Interstate Motor Freight:Carrier number 62XY404 Freight charges: FOB shipping point file will be paid by Hawkins College Route: Direct Truck & driver Truck 64, Regina Rexrode Freight rate: $37.00 per 100 lbs. Shipment: 3 cartons/basketballs 14 lbs/carton 15 cartonship, tail and arm pad sets 32 lbs./carton 5 cartons/footballse 24 lbs/carton Record this cash receipt and process the bank deposit for the day. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. Received vendor Invoice No. 72654 Doc. No. 18) from University Athletic News for 28th Yes advertisements Waren ran during the Christmas season and immediately issued a check (Doc. No. 20) for payment in full. 223 16 17 28th Yes Received freight bil 26245 (Document No. 19) from Interstate Motor Freight for the Velocity Sporting Goods shipment received December 20th, issued check (Doc. No. 20) to Interstate Motor Freight for the full amount of the freight bill 223 18 29th Yes Issued an electronic payment to Velocity Sporting Goods using ACH Payment Authorization No. 6-53431 (Doc. No. 21) for payment in full of their invoice No. 34719 (Doc. No. 18) for goods received December 20th. Consider the credit terms before determining the amount of the electronic payment. P23 A Trans. 19 20 Document? Dec. Flowchart Description Received the standing workstations ordered on Waren's purchase order 29th Yes No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc No. 18) from Chicago Office Supply. The workstations were received in new and undamaged condition and 2.22 taken directly to the office. The estimated useful life is 5 years with no salvage value. Printed and reviewed payroll time record reports (Doc. No. 22) for Ford and Adams 30th Yes for the time period ended December 31st and prepared the payroll for all three employees, including paychecks. Federal and state withholding amounts for each A24 employee are as follows Income Tax Withholding Amounts Federal State of Illinois Ray Kramer $321.00 $171.29 Jim Adams S205.00 $100,63 Nancy Ford $ 78,00 $ 74.74 Paychecks are considered "Mailed/Given to Outsiders. Time record reports are filed in the "Accounting file tab. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions and Flowcharts book and complete all the month-end procedures. An additional month-end requirement for this project is: Yes Monthly Statement - Prepare a monthly statement (Doc. No. 15) for Rosemont University. No YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions and Flowcharts book and complete all the year-end procedures. Additional information for the year-end procedures is: Ending Inventory - A physical inventory was taken 1/1/23, before business began for the new year. Merchandise on hand cost $202,920.00. Bad Debt Expense - The expense for bad debts is estimated at the end of the year as one- half of one percent (0.005) of net sales. No Marketable Securities - At December 31, 2022, the market value of marketable securities held by Waren approximated the cost of the securities. No The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. 5 Document No. 26 WAREN SPORTS SUPPLY DECEMBER 31, 2022 YEAR-END WORKSHEET 12-31-21 POST-CLOSING TRIAL BALANCE DEBIT CREDIT 010251 DOUS00 3250 31 1006800 12-31-22 UNADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DE LLLLLLL ACCT NO. 10100 10200 10000 10400 OSO 10600 10200 MONDO Cash Ace receive Allowance for del cos levy Prepaid expenses Marketable securities Intereste Fixed assets Accumalated depreciation Nos receive 32064500 SI55150 11000 11211 RIMUM 20100 20000 20300 20400 20500 20600 20700 20800 Accounts payable Wares and sales payable Federal income held Se income withheld State unemployment tres payable Federal unemploymentares payable FICARE Federal income spalle Dividends ble Intere pyable Notes yalle 979 $ 441 95 2910 $331 151370 34747 00 21000 21100 2150000 26000 27000 28000 29000 Common stock Pald-in capital is ces par Income summary Retained carpe FO36494 10100 30000 3000 30500 30600 30700 MONO Sales Sales and we Sales discounts taken Cosis of goods Purchases Purchases returns and allowances Purchases coses taken Freight 30200 31000 31100 31200 Galloss wednes Gairloss on sale of the securities Interestindend income Miscellaneous 40300 40200 40300 10400 40500 40500 40700 40800 40900 41000 Rent expert Advertisingepee Offices Depreciation spee Wages and sales expense Payroll taxes Federal income tax expense Teterest Expense Bad obtespense Other operation cente TOTALS Netice TOTALS A444 4444 ADJUSTMENTS ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT Document No. 27 WAREN SPORTS SUPPLY December 31, 2022 Post-Closing Trial Balance ACCT. NO. ACCOUNT TITLE DEBIT CREDIT 10100 10200 10300 10400 10500 10000 10700 10800 10900 11000 Cash Accounts receivable Allowance for double accounts Inventory Prepaid expenses Marketable securities Interest receivable Fixed assets Accumulated depreciation Notes receivable 20100 20200 20300 20400 20500 20600 20700 20800 20900 21000 21100 Accounts payable Wages and sales payable Federal income taxes withhold State income taxes withold State unemployment taxes payable Federal unemployment tos payable FICARE pable Federal income taxes payable Dividends payable Interest payable No e parable 26000 27000 28000 29000 Common stock Paid.in capital in excess of par Income sutary Retained caming Totals 17