e Exit Submit The Green Thumb Gardener is a retail store tha

e& Exit Submit The Green Thumb Gardener is a retail store that sellis plants, soil, and decorative pots. On December 31, 2019, the firm\'s general ledger contained the accounts and balances that appear below. 2 ACCOUNTS AND BALANCES Cash 6,300 Dr 3,200 Dr. allovance for Doubtful ecounts Marchandise Inventory Supplies Prepaid kdvertising store Equiprent Accunulated Depreciation-Store Equipment office Equipaent Accunulated Depreciation-ottice zquipnent Accaust Payable Social security Tax Payable Medicare Tax Payable Pedezal Ueerployment Tax Payable State Uneaploynent Tax Payable Salaries Payable Deth Argo, Capital Beth hzgo, Drawing SB Cr 11,900 Dr 1,260 Dr 960 Dr 8,460 Dr points Skipped 1,960 Dr 340 Ce 2,685 Cr. 490 CE 2 Cr. 28,517 Cr. 20,600 Dr 93,048 Cr 160 Dr 48,200 DE. 490 Cr 6, 600 Dr 650 DE 14,700 DE. 1,330 Dr. Ssles Returna and Allowances Parchases Baturna and Kilovances Rent Expense Telephone ExpecES elaries Expense Payroll Taxes Expanse noose Sunmary upplies Expense Adrerti Depeeciation Expesse-Store Equipsent Depreciation Expenss-otfice Equiprent Uneolleotible ccounts Expense

Solution

The Green Thumb Gardener Worksheet Year ended December 31, 2019 Account Name Trial Balance Adjustments Adjusted Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 6300 6300 6300 Accounts Receivable 3200 3200 3200 Allowance for doubtful accounts 58 246 304 304 Merchandise Inventory 11900 48200 47179 12921 12921 Supplies 1260 955 305 305 Prepaid Advertising 960 480 480 480 Stores Equipment 8460 8460 8460 Accumulated Depreciation - Stores Equipment 1560 1560 3120 3120 Office Equipment 1960 1960 1960 Accumulated Depreciation - Office Equipment 340 340 680 680 Accounts Payable 2685 2685 2685 Social Security Tax Payable 490 117 607 607 Medicare Tax Payable 92 27 119 119 Federal Unemployment Tax Payable 11 11 11 State Unemployment Tax Payable 102 102 102 Salaries Payable 1890 1890 1890 Beth Argo, Capital 28517 28517 24108 Beth Argo, Drawing 20600 20600 Sales 93048 93048 93048 Sales Returns and Allowances 1160 1160 1160 Purchases 48200 48200 0 Purchase Returns and Allowances 490 490 0 Rent Expense 6600 6600 6600 Telephone Expense 650 650 650 Salaries Expense 14700 1890 16590 16590 Payroll Taxes 1330 257 1587 1587 Cost of goods sold 46689 46689 46689 Supplies Expense 955 955 955 Advertising Expense 480 480 480 Depreciation Expense - Stores Equipment 1560 1560 1560 Depreciation Expense - Office Equipment 340 340 340 Uncollectible Accounts Expense 246 246 246 Totals 127280 127280 101107 101107 131083 131083 76857 93048 33626 33626 Net Income 16191 93048 93048 33626 33626 Cost of goods sold Beginning Inventory 11900 Add: Purchases 48200 60100 Les: Purchase returns 490 Goods available for sale 59610 Less: Ending Inventory 12921 Cost of goods sold 46689 Depreciation Stores Equipment Cost 8460 Salvage Value 660 Depreciable Cost 7800 Estimated Life - Years 5 Annual Depreciation 1560 Office Equipment Cost 1960 Salvage Value 260 Depreciable Cost 1700 Estimated Life - Years 5 Annual Depreciation 340 Payroll taxes Salaries Acccrued 1890 Social Security tax (6.2%) 117 Medicare Tax (1.45%) 27 Federal unemployment tax (0.6%) 11 State unemployment tax (5.4%) 102 Total payroll taxes 257