Aaron Patton owns and operates Patton's Bait Shop and Boat Rental. A year-end trial balance is shown 542.
Year-end adjustment data for Patton's Bait Shop and Boat Rental are as follows:
a. A physical count shows that merchandise inventory costing $15,000 is on hand as of December 31, 20--.
b. Supplies remaining at the end of the year, $200.
c. Unexpired insurance on December 31, $300.
d. Depreciation expense on the building for 20--, $2,000.
e. Depreciation expense on the store equipment for 20--, $1,500.
f. Wages earned but not paid as of December 31, $225.
g. Unearned boat rental revenue as of December 31, $1,000.
1. Prepare a year-end work sheet.
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