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Insert image of your assigned unadjusted Trial Balance HERE: Part 1a: Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names). 1. On Dec 31, 2017 merchandise was sold on account for $16,500 with a cost of $5,500 terms 3/10 net 30. 2. The company issued a 6 month, 12% interest note short-term note for the amount listed on the unadjusted trial balance on Oct. 1, 2017. All interest and principal will be paid back at the end of the 6 months. Write the adjusting journal entry required for its financial statements as of Dec 31, 2017 3. Uncollectable Accounts Receivables of $1,600 need to be written off for the year ended 2017. 4. Management estimates that of the remaining accounts receivable balance, $2,000 will be uncollectible. Record the adjustment based on this information. Hint: Use the AFDA balance AFTER the above write off during 2017. Use an AFDA T-account! 5. A piece of equipment was retired on Dec 31, 2017. The equipment originally cost $34,000 and has related A/D of $24,000 as of Jan 1, 2017. Additional depreciation of $3,000 needs to be recorded on this piece of equipment at Dec 31, 2017. Update the depreciation below (#5). Then record the retirement (#6). 6. Record the retirement of the equipment (from S) induding the gain or loss, Paste B I U abe X X A A * Office Update To keep up-to-date with security updates, fixes, and impr Part 1b: Post the adjusting journal entries to t-accounts: (Specific instructions: Above each T-account, write the account name of each account affected by a journal entry. Write in the unadjusted balance for each of these accounts (from page 1_the unadjusted balance might be a debit, a credit, or zero balance. Now you are ready to post your journal entries from page 2 onto the corresponding T-accounts and then calculate adjusted balances.) Paste B abe X A Part 1c: Prepare the Adjusted Trial Balance (i.e., use ending balances after the previous Journal entries are posted) December 31, 2017 Adjusted Trial balance Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Interest Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2017) Dividends Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Delivery Expense Depreciation Expense Bad Debt Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Revenue Loss on Disposal Interest Expense Income Tax Expense Total Ineart im AF NAF sinnad Adleted Tralalanca UEDE. Calibri 11 A- A A III i ilil Paste . I Uabe X B X? A Drage or your du sujuu la Ddarlle NCC Part 2a: Prepare a Multi-step Income Statement (Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.) Inc. Income Statement Year Ended Dec. 31, 2017 Home Calibri 11 A A Paste B U I abe X A x A. Part 2c: Prepare a Classified Balance Sheet Be sure to indude all the necessary subtotals and totals as outlined in Chapter 2. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for subtotals and totals.) Inc. Balance Sheet As of Dec. 31, 2017 Part 2b: Prepare a statement of Retained Earnings. Inc. Statement of Retained Earnings Year Ended Dec. 31, 2017 Page 1 of 8 622 words X English (United States) Insert image of your assigned unadjusted Trial Balance HERE: Part 1a: Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names). 1. On Dec 31, 2017 merchandise was sold on account for $16,500 with a cost of $5,500 terms 3/10 net 30. 2. The company issued a 6 month, 12% interest note short-term note for the amount listed on the unadjusted trial balance on Oct. 1, 2017. All interest and principal will be paid back at the end of the 6 months. Write the adjusting journal entry required for its financial statements as of Dec 31, 2017 3. Uncollectable Accounts Receivables of $1,600 need to be written off for the year ended 2017. 4. Management estimates that of the remaining accounts receivable balance, $2,000 will be uncollectible. Record the adjustment based on this information. Hint: Use the AFDA balance AFTER the above write off during 2017. Use an AFDA T-account! 5. A piece of equipment was retired on Dec 31, 2017. The equipment originally cost $34,000 and has related A/D of $24,000 as of Jan 1, 2017. Additional depreciation of $3,000 needs to be recorded on this piece of equipment at Dec 31, 2017. Update the depreciation below (#5). Then record the retirement (#6). 6. Record the retirement of the equipment (from S) induding the gain or loss, Paste B I U abe X X A A * Office Update To keep up-to-date with security updates, fixes, and impr Part 1b: Post the adjusting journal entries to t-accounts: (Specific instructions: Above each T-account, write the account name of each account affected by a journal entry. Write in the unadjusted balance for each of these accounts (from page 1_the unadjusted balance might be a debit, a credit, or zero balance. Now you are ready to post your journal entries from page 2 onto the corresponding T-accounts and then calculate adjusted balances.) Paste B abe X A Part 1c: Prepare the Adjusted Trial Balance (i.e., use ending balances after the previous Journal entries are posted) December 31, 2017 Adjusted Trial balance Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Short Term Note Receivable Interest Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2017) Dividends Sales Sales Returns & Allowances Sales Discounts Cost of Goods Sold Delivery Expense Depreciation Expense Bad Debt Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Revenue Loss on Disposal Interest Expense Income Tax Expense Total Ineart im AF NAF sinnad Adleted Tralalanca UEDE. Calibri 11 A- A A III i ilil Paste . I Uabe X B X? A Drage or your du sujuu la Ddarlle NCC Part 2a: Prepare a Multi-step Income Statement (Be sure to include all the necessary headings, totals and subtotals as outlined in Chapter 5. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Income Statement, use the right column for subtotals and totals.) Inc. Income Statement Year Ended Dec. 31, 2017 Home Calibri 11 A A Paste B U I abe X A x A. Part 2c: Prepare a Classified Balance Sheet Be sure to indude all the necessary subtotals and totals as outlined in Chapter 2. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for subtotals and totals.) Inc. Balance Sheet As of Dec. 31, 2017 Part 2b: Prepare a statement of Retained Earnings. Inc. Statement of Retained Earnings Year Ended Dec. 31, 2017 Page 1 of 8 622 words X English (United States)

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