The trial balance for the Venice Beach Kite Shop, a business owned by Molly Young is shown on page 550. Year-end adjustment information is as follows:
(a and b) Merchandise inventory costing $35,000 is on hand as of December 31, 20--. (The periodic inventory system is used.)
(c) Supplies remaining at the end of the year, $3,300.
(d) Unexpired insurance on December 31, $3,800.
(e) Depreciation expense on the building for 20--, $2,500.
(f) Depreciation expense on the store equipment for 20--, $3,500.
(g) Unearned rent revenue as of December 31, $4,500.
(h) Wages earned but not paid as of December 31, $800.

REQUIRED
1. Complete the Adjustments columns, identifying each adjustment with its corresponding letter.
2. Complete the work sheet.
3. Enter the adjustments in a general journal.
Venice Beach Kite Shop
Trial Balance
December 31, 20€“

Transcribed Image Text:

Accounts Recelvable Mer dandse Inventory Supplies Prepaid Insarance 20 000 1410|0|0|ㆀ 25|0| 0|0| 80 00 00 30 000 00 5010| 0|0001 Building Accumulated Deprecaton-Building Store Equtpment Acomulated Deprectation-Store Equipment Accounits Payable Wages Payable Sales Tax Payable linearned Rent Revenue Mortgage Payable M. Young, Capital M. Young, Deawing hcome Summary 2010| 01 000 35 0 0 0 00 14 0 0 0 00 9 6 0 000 59 0 0 0 8 9 000 5000 6514| 10| ㆀ 26 00 0 00 118 0 0 0 Sales Raturns and Allowane Rent Revenue 27 Prhs and Allowances Perchases Dsounts Frelght-h Wages Experse Advertising Experse Supplies Eperse Telephone Expene Utdithies Expere nsurance Expense Deprectaton Experse-Buildng Deprectation Expee Store Equipment Miscellaneous Expense 14 0 0 00 1 8 00 00 2 1 00 00 32 0 000 360 00 13 5 0 00 8 00 0 00 8| 6|0|00 | 200 002 0 10 00