Berry Corporation prepared the following preliminary trial balance. The trial balance and other information was evaluated by Delton Wiser, CPA. Delton has returned a list of proposed adjustments tha
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BERRY CORPORATION
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Trial Balance
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December 31, 20X3
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Debits
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Credits
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Cash
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$ 30,540
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$ -
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Accounts Receivable
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45,000
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-
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Supplies
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7,000
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-
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Equipment
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244,500
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-
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Accumulated Depreciation
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-
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46,500
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Accounts Payable
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-
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12,700
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Unearned Revenue
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-
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31,250
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Notes Payable
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-
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80,000
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Capital Stock
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-
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100,000
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Retained Earnings, Jan. 1
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-
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63,200
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Dividends
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12,000
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-
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Revenues
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-
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289,800
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Wages Expense
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214,600
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-
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Utilities Expense
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8,700
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-
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Selling Expense
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41,610
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-
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Depreciation Expense
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12,000
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-
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Interest Expense
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7,500
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-
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$ 623,450
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$ 623,450
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1. Delton discovered that 40% of the unearned revenue appearing in the trial balance had actually been earned as of the end of the year.
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2. A physical count of supplies on hand revealed a year-end balance of only $3,000.
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3. Unpaid and unrecorded invoices for utilities for December amounted to $1,500.
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4. The last payday was December 26. Employees are owed an additional $3,900 that has not been recorded.
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5. Additional depreciation of $3,100 needs to be recorded.
REQ:
1. Prepare work sheet.
2. Prepare adjusting entries.
3. Prepare closing entries.
4. Prepare after closing trial balance
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