At the end of May, the following adjustment data were assembled. Merchandise inv
ID: 2517390 • Letter: A
Question
At the end of May, the following adjustment data were assembled.
Merchandise inventory on may 31 $570,000
Insurance expired during the year 12,000
Store supplies on hand May 31 4,000
Depreciation for the current year 14,000
Accrued salaries on May 31
Sales salaries 7,000
Office Salaries 6,600 13,600
The adjustment for customer returns and allowances is $60,00 for sales and $35,000 for cost of merchandise sold.
I need the unadjusted trial balance, adjustments, adjusted trial balance, and post closing. Thank you!
Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable Salaries Payable Lynn Tolley, Capital, June 1, 2013 Lynn Tolley, Drawing Income Summary Sales Sales Returns and Allowances Sales Discounts Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense Insurance Expense Miscellaneous Administrative Expense S 83,600 233,900 602,400 16,800 11,400 569,500 56,700 96,600 110 112 115 116 117 123 124 210 211 310 311 312 410 411 412 510 520 521 522 523 529 530 531 532 539 685,300 135,000 5,221,100 92,700 59,400 2,823,000 664,800 281,000 12,600 382,100 83,700 7,800Explanation / Answer
TROLLEY
ADJUSTED TRIAL BALANCE
DR $
CR $
CASH
84500
ACC REC
297450
INVENTORY
602400
PREPAID INSURANCE
4800
STORE SUPPLIES
4000
STORES EQUIP
569500
ACC DEPN EQUIP
581000
ACC PAY
63150
-
L TROLLEY CAPITAL
685300
L TROLLEY DRAWINGS
135000
INCOME SUMMARY
-
-
SALES
5524850
SALES RETURN
13500
P RETURN
5000
COST OF SALES
SALES SALARIES
727800
ADVET
292000
DEP
14000
DA/ DR
2200
1550
MISC
OFFICE SALARIES
35600
RENT
88700
INSURANCE
12000
MIS ADMN EXP
ACCD EXP
13600
CASH
DATE
DETAILS
$
DATE
DETAILS
$
C/D
83600
RENT
5000
ACC REC
22300
CARIAGE INW
600
SALE
54000
MARTIN
35280
KORMAN
53900
ADVT
11000
GEE
42900
PURCHASES
18700
CRESCENT
111200
BUTTONS
33450
FREIGHT
2300
SALES RETURN
7500
SALARIES SALES
56000
SALARIES ADMIN
29000
STORES SUPPLIES
2400
OSTERMAN
82170
BAL C/D
84500
367900
367900
SALES
CASH RETUEN
7500
B/F
5211100
CASH
68500
CASH
54000
CRESCENT
110000
C/D
5524850
TURNER
78750
5532350
5532350
ACC REC
233900
CASH HALSTAD
22300
KORMAN
68500
SALES RETURN
13500
CRESCENT
110000
DIS ALL
1100
“ CARRIAGE
2300
KORMAN
53900
TURNER
78750
GEE
42900
DIS ALL
1100
CASH
111200
BAL C/D
297450
493450
493450
SALES SALARIES
C/D
664800
p/l
727800
CASH
56000
AACD
7000
ADVT
C/D
281000
PL
11000
292000
OFFICE SALARIES
C/D
382100
CASH
29000
ACCD
6600
417700
DIS ALLOWWED
ACC REC
1100
ACC REC
1100
2200
INSURANECE PREPAID
C/D
16800
PL
12000
B/D
4800
STORES SUPPLIES
B/D
11400
PL
9800
CASH
2400
C/D
4000
13800
ACCRUED EXPENSES
SALES SALARIES
7000
ADMIN SALARIES
6600
13600
ACC PAY
MARTIN DIS REC
720
C/D
96600
CASH MARTIN
35280
MARTIN
36000
CASH BUTTON
33450
RETURN
5000
OSTERMAN
88000
DIS RECD
830
CASH
82170
BLA C/D
63150
220600
220600
SALES RETURN
KORMAN
13500
CARIAGE INWARDS
CASH
600
PURCHASEDS
MARTIN
36000
CASH
18700
OSTERMAN
88000
142700
RENT
C/D
83700
CASH
5000
88700
DISCOUNT RECED
MARTIN
720
OSTERMAN
830
1550
DEP ON OFFICE EQIP
ACC DEP EQUIP
14000
ACC DEP OFFICE EQUIP
DEP
14000
TROLLEY
UNADJUSTED TRIAL BALANCE
DR $
CR $
CASH
83600
ACC REC
233900
INVENTORY
602400
PREPAID INSURANCE
16800
STORE SUPPLIES
11400
STORES EQUIP
569500
ACC DEPN EQUIP
567000
ACC PAY
96600
-
L TROLLEY CAPITAL
685300
135000
INCOME SUMMARY
-
-
SALES
5221100
SALES RETURN
92700
59400
COST OF SALES
2823000
SALES SALARIES
664800
ADVET
281000
DEP
-
MISC
12600
OFFICE
382100
RENT
83700
INSURANCE
-
MIS ADMN EXP
7800
6059700
6059700
TROLLEY
ADJUSTED TRIAL BALANCE
DR $
CR $
CASH
84500
ACC REC
297450
INVENTORY
602400
PREPAID INSURANCE
4800
STORE SUPPLIES
4000
STORES EQUIP
569500
ACC DEPN EQUIP
581000
ACC PAY
63150
-
L TROLLEY CAPITAL
685300
L TROLLEY DRAWINGS
135000
INCOME SUMMARY
-
-
SALES
5524850
SALES RETURN
13500
P RETURN
5000
COST OF SALES
SALES SALARIES
727800
ADVET
292000
DEP
14000
DA/ DR
2200
1550
MISC
OFFICE SALARIES
35600
RENT
88700
INSURANCE
12000
MIS ADMN EXP
ACCD EXP
13600
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