For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 44.000 44,000 5,000 5,000 50.600 50.600 13.600 17,700 37,000 12.900 Net income Total Net Loss SMART TOUCH LEARNING Worksheet December 31, 2016 Unadjusted Trial Adjustments Adjusted Trial Balance Income Statement Balance Sheet Balance Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Names Total 47.200 47,200 5400 5.400 54.600 54.600 30.900 35.500 14.700 19.100 Total

3. What is the NAV?

But why? for number 3

Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800