Pearson etext Problems Group A PEARSON 305 ns> End of Chapter: Merchandising Opt

Question

Pearson etext Problems Group A PEARSON 305 ns> End of Chapter: Merchandising Options Journalizing adjusting entries, preparing adjusted trial balance, and preparing multi-step income statement The unadjusted trial balance for Trudel Electronics Company at March 31, 2018, follows: -37A TRUDEL ELECTRONICS COMPANY Unadjusted Trial Balance March 31, 2018 Balance Account Title Cash Accounts Receivable Merchandise Inventory Office Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Notes Payable, long-term Trudel, Capital Trudel, Withdrawals Sales Revenue Cost of Goods Sold Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative Total Debit Credit 4,000 38,800 45,500 6,500 130,000 $ 36,800 17,400 13,200 48,000 60,100 20,000 282,500 160,600 20,000 15,800 5,700 11,100 s 458,000 $ 458,000 3

Explanation / Answer

1. In the books of Trudel Electronics Company:

Adjusting entries:

2. Trudel Electronics Company

Adjusted Trial Balance

March 31, 2018

3. Trudel Electronics Company

Income Statement

For the year ended March 31, 2018

Adjustment Account Titles Debit Credit $ $ a. Interest Receivable 200 Interest Revenue 200 b. Salaries Expense( Selling) 2,300 Salaries Payable 2,300 c. Depreciation Expense - Equipment ( Administrative) 1,300 Accumulated Depreciation : Equipment 1,300 d. Interest Expense 1,500 Interest Payable 1,500 e. Cost of Goods Sold 300 Merchandise Inventory 300 f. No entry required.

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.