Using the ledger balances and additional data shown below and on the next two pages, do the following for Brennan Sales Co. as of December 31, 2012:
a. Prepare the worksheet.
b. Prepare the income statement, statement of owner€™s equity, and balance sheet.
c. Journalize and post adjusting and closing entries. (Be sure to put beginning balances in the ledger first.)
d. Prepare a post-closing trial balance.
e. Journalize the reversing entry for wages.

Additional Data (for Problem 13C-4)

Additional Data (for Problem 13C-4)

a. and b. Merchandise inventory, December 31€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦ $4,875
c. Supplies on hand, December 31€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦ $ 190
d. Insurance expired€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦.. $ 68
e. Amortization for the year€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦.. $ 750
f. Accrued wages on December 31€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦ $ 395
g. Advertising bill received€”due next year
(add Prepaid GST of $10)€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦.. $ 200

Transcribed Image Text:

Account No. 1100 Cash 1110 Accounts Receivable 1120 Merchandise Inventory 1130 Supplies 1140 Prepaid Insurance 1150 Prepaid GST 210 Equipment 1220 Accumulated Amortization, Equipment $ 720 1,620 5,910 430 238 647 8,500 1,640 MIKOLASKI MODERN DESIGN COMPANY WORKSHEET FOR YEAR ENDED NOVEMBER 30, 2013 Trial Balance Dr. Adjustments Dr. Account Titles Cash in Bank Petty Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Prepaid GST Equipment Accum. Amortization, Equipment Building Accum. Amortization, Building Accounts Payable Mortgage Payable Unearned Rent GST Collected L. Mikolaski, Capital L. Mikolaski, Withdrawals Income Summary Sales r. Cr 3465 78 5000 1157520 16479 22 76585 B2567244 1647922A) 25775 1653 45 21575 00 14762 40 135760 D 2870000 64782 D 2165 370 840000 11446 52 240000 (C)80000 2167 85 32420 2:2 16450 00 (A)1647 922 2567 244 (B 77327 56 Sales Discounts and Allowances Purchases Purchases Returns and Allowances Purchases Discounts Freight-In Advertising Expense Cleaning Expense Repair Expense Salaries Expense Utilities Expense 42649 04 455 72 57622 632 88 1245 00 2605 60 87620 21575 60 95245 17161019 17161019 Rental Income Earned Amort. Exp., on Equip. and Building Insurance Expense 80000 C (D)2005 42 (E) 25775 45214 83 452 1483 2200 Accounts Pavable 2210 Accrued Wages 2220 GST Collected 3300 W. Brennan, Capital 3310 W Brennan, Withdrawals 3320 Income Summary 4400 Sales 4410 Sales Returns and Allowances 5500 Purchases 5510 Purchases Discounts 5520 Purchases Returns and Allowances 6600 Wages Expense 6610 Advertising Expense $ 1,660 897 12,012 4,700 31,000 630 18,400 730 276 4,530 690 6620 6630 6640 6650 Rent Expense Amortization Expense, Equipment Supplies Expense Insurance Expense $1,200