The green thumb gardener worksheet answers

Prepare the Trial Balance section of a 10-column worksheet
Subject
Business Finance

Question Description
1.Prepare the Trial Balance section of a 10-column worksheet. 2. Enter the adjustments above in the Adjustments section of the worksheet. 3. Complete the worksheet. 4 analyze By what amount were the assets of the business affected by adjustments? excel workbook contains 3 sheetsThe Green Thumb Gardener is a retail store that sells plants, soil, and decorative pots. On December 31, 2019, the ACCOUNTS AND BALANCES Cash 5,400 Dr. 2,300 Dr. 49 Cr. 11,000 Dr. 1,170 Dr. Prepaid Advertising 1,080 Dr. Store Equipment Accumulated Depreciation—Store Equipment Office Equipment Accumulated Depreciation—Office Equipment Accounts Payable Social Security Tax Payable 7,920 Dr. 1,470 Cr. 1,420 Dr. 250 Cr. 2,595 Cr. 400 Cr. 85 Cr. Beth Argo, Capital 24,063 Cr. Beth Argo, Drawing 19,700 Dr. Sales Sales Returns and Allowances Purchases Purchases Returns and Allowances Rent Expense Telephone Expense Salaries Expense 88,548 Cr. 1,070 Dr. 45,500 Dr. 400 Cr. 5,700 560 13,800 Dr. Dr. Dr. Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Medicare Tax Payable $ Federal Unemployment Tax Payable State Unemployment Tax Payable Salaries Payable Payroll Taxes Expense Income Summary Supplies Expense 1,240 Dr. Advertising Expense Depreciation Expense—Store Equipment Depreciation Expense—Office Equipment Uncollectible Accounts Expense ADJUSTMENTS a.–b. Merchandise inventory on December 31, 2019, is $12,021. c. During 2019, the firm had net credit sales of $32,000; the firm estimates that 0.5 percent of these sales will r d. On December 31, 2019, an inventory of the supplies showed that items costing $260 were on hand. e. On October 1, 2019, the firm signed a six-month advertising contract for $1,080 with a local newspaper and f. On January 2, 2018, the firm purchased store equipment for $7,920. At that time, the equipment was estimat g. On January 2, 2018, the firm purchased office equipment for $1,420. At that time, the equipment was estima h. On December 31, 2019, the firm owed salaries of $1,800 that will not be paid until 2020. i. On December 31, 2019, the firm owed the employer’s social security tax (assume 6.2 percent) and Medicare j. On December 31, 2019, the firm owed federal unemployment tax (assume 0.6 percent) and state unemploym Required: 1.