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1 Use this Excel template file (see tabs) to complete the required accounting activities and rename it to begin with your last name (i.e. Doe_Jane ACC 120 Midterm). Note: The Unadjusted Trial Balance and the Adjusted Trial Balance have been completed for you ` 2 Journalize the routine transactions described on the Journal Tab. You do not need to complete the PR section for this assignment. Use the Account Names shown on the ATB `3 Use the Unadjusted Trial Balance and adjusting information provided (See Journal. tab) to journalize the 7 adjusting entries (a-g.) 4 Use the Adjusted Trial Balance provided to prepare an Income Statement (MultiStep) appropriate to a merchandising business, a Statement of Owner's Equity, and a report form Balance Sheet. These should be completed on the Financial Statements tab. Notes/Tips: There were no investments by owner during the reporting period. This company prepares an Adjusted Trial Balance and Financial Statements at the end of each month. All adjustments are for the last 30 days. (Effective date Dec 31) Print the Adjusted Trial Balance to help complete the Financial Statements. Print the Unadjusted Trial Balance to help complete the Journal Durina ehe bast month of the year, the toloweng trangaction mite someleted: Dee 1 Raid rent for becembec, ss. .966. roe sheping Foin Dee 4. Paid $450 canh tar height charges de gurchase of Des 3 . Bee 5 . Notd nerehandise to Beaver tompany for 52t,790 utdet creda tertis zit, nedy Dee s. Rarehated merehisede nem Gock cembety for triso2, under annths Riesen (net i nat ond of monithi. was male in Norember. Dee 3 Ahar negot aboes an goat Cempany doncenting Droblens wht the Doe 9 Afer negobielons with Csat Cempasy conceinitg protiems with the merchamsise purchaled on Dec 3. And Cempery ieceived a cred credi mestoratdim tiont doet Company grakting an atowance ci 56,000 . Qoe tf Leld merchandise en atcourt to Cow comgdiy, ferme zio, n co, Fod destration, 52?096. The marchandise fad a cost of it i1060. Cee 12 Paia sts5 cash tor shippieg charges related fo the Dec t1 sale la Cew Cempery Doc 43. Paia the amount due do doat Campary foe the Des I purchase ins the aliowme y anted on Bec . Ceotis Peceived balanca due from nuaver Congery tee mefchabase sold se thet 5 . ABC Company 51.090 and been sold for 35.940 . The imeretandise ark restored to inveatory? Dee 21 Heopived amout due from Cow compary lse the Dec 11 saie less the sain rehum en Dee 16 . Dee 23 Faht advertising espense for ads running the itht meek of Decethber, 3 abo. Dee 26 Paig oart4ime sales clerk for fwo weeks salary, s3, boz. Dee 21 Receives amount due from cew campany for the cee tf sale inst the tale rebern on Dec 16 Dec 23 Faid advertising expense for ads running the last week of December, 5050. Dee 24 Faid part-time sales clerk tor two mekks' salary, 51,600. Dec 2 Purchated offce tupples en sccount, 5500. Dec 21 Paid Duck, Company anount due frem the Dee 6 parchase. At the and of December, the following adfustment data weie assembled. a After a physical count of inventory. it was detecmined that $27.200of inventory exists at Decenber 31. - 1% of sales is expectad to be refunded. 5. Estimated Cost et Meschandise that wili be returned in the reat year is $5,509 d Maurance Expired durieg the year, \$2.200. Oflice supplies on hand at Dee 31, 51.250. Depreciation for December is $1,400. 9 Sales cleck earned $1,509 of unpald and unrecorded salary as of Dec 31. ABC Company Unadjusted Trial Balance December 31,20x Home insert Page Layout Formulas Data Review View Automate Help ABC Company Adjusted Trial Balance December 31,20xx \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|l|}{} & Debit & \multicolumn{1}{r|}{ Credit } \\ \hline Cash & 60,678 & \\ \hline Petty Cash & 1,000 & \\ \hline Notes Receivable & 30,000 & \\ \hline Accounts Receivable & 51,830 & \\ \hline Merchandise Inventory & 127,200 & \\ \hline Estimated Returns Inventory & 6,500 & \\ \hline Prepaid Insurance & 6,540 & \\ \hline Office Supplies & 1,250 & \\ \hline Delivery Equipment & 60,150 & \\ \hline Accumulated Depreciation-Delivery Equipment & & 24,350 \\ \hline Accounts Payable & & 64,600 \\ \hline Salaries Payable & & 1,500 \\ \hline Customer Refunds Payable & & 14,199 \\ \hline R.W. Miller, Capital & 30,000 & 193,870 \\ \hline R.W. Miller, Drawing & & 1,048,349 \\ \hline Sales & & 1,650 \\ \hline Interest Revenue & 655,010 & \\ \hline Cost of Merchandise Sold & 93,830 & \\ \hline Sales Salaries Expense & 63,000 & \\ \hline * & 39,110 & \\ \hline *ent Expense & nn & \\ \hline Delivery Expense & & \\ \hline \end{tabular} Directions Journal Unadjusted Trial Balance Adjusted Trial Balance Financial Accessibility: Investigate 73F Mostly sunnv "mio uornpariy consders these items "Administrative Expenses." Note: See Chapter 6 (Exhubits 11,12,14) for proper formatting of Financial statements bo not mcoary roamatrind Aateta rion BC0 F2. Joumalize the routine transactions described on the Journal Tab You do rot nood to complele the PR secbov for this assignment. Use the Account Names stiown on tro A IB '3 Use the Uaadyisted Trial Balance and ad)usting unfomnation provided (See Journal tab) to joumalize the 7 adjusting entries (a-9) i4 Use the Adjusted Tria Balance provided lo prepare an Income Statement (Multi. Step) appropnate to a merchandising busincess, a Statement of Owner's Equity, and a repoit form Balance sheel. These should be cocnpleted on the Financial Statements tab Noiestips. imontin All aduatiments an for the last 30 days. (Enoctiva dato Dec 31) Prink itre Aajustod Inat Batunco to bolp complefe tho Finaricial Siatemente Prink ithe Ueradjested Thial Bakance to flefip compiete fhe Journal During the last woeth.ot the year, the following transacticht wete completed. Dee 1 Paid rent far Decenbee, sstaco. Dec-3 Purchabed merchasdie freet Goat Conpany for 5 , too wader terme Misi nod. Foet shipping Poiet Foo shipoing Potr. The merchasdine had in coat of 98.860 . Dec 5 . Forchased merchandite fros tuck Conpary for 32/,500, under term alpom inee f net end of menthl. Dect Rescetred 33 abd on socount hsin War thog Company, no discourt. Ihis aale was made is Norember. Dee 9. Mhe iegotiafors with Coat Compery concuming piothems with tee meechandise purchared en Dec 3, AoC Compary rectiond a ctedit Dee ti Paid gart eime sales cleik 53,000 which iscluled 5?,000 of Sale Salaries Payable an December 1at. 0lint This entry wit requere the lines. Dee if sold merchandiae ee mecent is Can compary, teims alse, nke, foig Dec 13 Paid the ameunt due ta Coat Camyany lor the Dee 3 pachase leat the allowasce gramisd en Dee 9 . Buc is fleceived balance tue from Eleaver Campany for ikerchande sold an Dec 5. Dec 15 Cow coeppany sebuned meichandine fram ite bees 11 sale that had ceat Dec 11 Psis the amoust due to Cost Campany lar the Dee 3 purchase len ithe allowance granted on Deci. thec 15 Receired bolance dos freen Bearer Company for merchandine seld on Dees: 5 . Dec is Coe cempary retursed merchasdise freen the Dee 11 sole that biat cot ABC Company $1,000 and been wold for $5.580. The merchandise was resticeed is inventory. Dec 21 Received ambant dae trom Cow company for the Doe 11 sale fets the sale reharn os Des 16 . Dec 73 Paid advertivleg expeste for ado ratning the last week of December. Soo. Dee 24 Pald partime sales cleek for two week' selacy. 31,000. Dec ef Purchased efilice supplies oun account, sspo. Dee 31 Pald thuck Ceematry ambunt due from the Dee 6 purchase. At the end of December, the following adustment data were atsembted. a Ahet a pbyskal cound of invectory, it mas determined that 5+28,200 of Mienery enise at December 31. b) Ith ed asles is rspected to be refunded. c Iatimated Cot of Meschandise that wil be returned in the nest year is $5.380 d Alaurance Expired during the year, 4.200. e Cftice supplies on band at Dec 31,51,23. I thepteciation fos Decwiber in 34,630 . 9 Sale cleik earned \$1,409 of unpald and unrecorded aalary at of ther 11 . ABC Conpany Unadjusted Trial Dalance Meramber 3t tinx And deexnanv pere Note: See Chapter 6 (Exhibits 11,12,14) for proper formatting of Financial Statements bo not wobifer roa nertmena

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