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The Artisan Wines is a retail store selling vintage wines. On December 31, 20X1, the firms general ledger contained the accounts and balances below. All account balances are normal.

Cash	$	43,215
Accounts Receivable		550
Prepaid Advertising		780
Supplies		350
Merchandise Inventory		15,500
Store Equipment		25,500
Accumulated DepreciationStore Equipment		3,500
Office Equipment		5,500
Accumulated DepreciationOffice Equipment		1,750
Notes Payable, due 20X2		25,000
Accounts Payable		2,755
Wages Payable
Social Security Tax Payable
Medicare Tax Payable
Unearned Seminar Fees		10,500
Interest Payable
Vincent Carbone, Capital		33,200
Vincent Carbone, Drawing		14,610
Income Summary
Sales		156,470
Sales Discounts		250
Seminar Fee Income
Purchases		91,500
Purchases Returns and Allowances		1,500
Freight In		250
Rent Expense		13,700
Wages Expense		20,000
Payroll Taxes Expense		2,770
Depreciation ExpenseStore Equipment
Depreciation ExpenseOffice Equipment
Advertising Expense
Supplies Expense
Interest Expense		200

ADJUSTMENTS:

a.b. Merchandise inventory at December 31, 20X1, was counted and determined to be $12,500.

1. The amount recorded as prepaid advertising represents $780 paid on September 1, 20X1, for 12 months of advertising.
2. The amount of supplies on hand at December 31 was $125.
3. Depreciation on store equipment was $3,250 for 20X1.
4. Depreciation on office equipment was $1,125 for 20X1.
5. Unearned Seminar Fees represent $10,500 received on November 1, 20X1, for seven seminars. At December 31, four of these seminars had been conducted.
6. Wages owed but not paid at December 31 were $400.
7. On December 31, 20X1, the firm owed the employers social security tax ($24.80) and Medicare tax ($5.80).
8. The note payable bears interest at 6 percent per annum. One months interest is owed at December 31, 20X1.

Required:

1. Prepare the Trial Balance section of a 10-column worksheet. The worksheet covers the year ended December 31, 20X1.
2. Enter the adjustments above in the Adjustments section of the worksheet.
3. Complete the worksheet.

Analyze: What was the amount of revenue earned by conducting seminars during the year ended December 31, 20X1?

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