Journalizing /Trial balance
- The accounts and their balances in the ledger of Viaduct Co. on December 31, 20xx, are as follows
Cash | 18,000 | Sales | 815,000 |
Accounts Receivable | 82,500 | Sales Returns and Allowances | 11,900 |
Merchandise Inventory | 165,000 | Sales Discounts | 7,100 |
Prepaid Insurance | 9,700 | Cost of Merchandise Sold | 476,200 |
Store Supplies | 4,250 | Sales Salaries Expense | 76,400 |
Office Supplies | 2,100 | Advertising Expense | 25,000 |
Store Equipment | 157,000 | Depreciation Expense - Store Equip. | 0 |
Acc. Depreciation - Store Equipment | 40,300 | Store Supplies Expense | 0 |
Office Equipment | 50,000 | Misc. Selling Expense | 1,600 |
Acc. Depreciation - Office Equipment | 17,200 | Office Salaries Expense | 34,000 |
Accounts Payable | 66,700 | Rent Expense | 16,000 |
Salaries Payable | 0 | Rent Revenue | 0 |
Unearned Rent | 1,200 | Insurance Expense | 0 |
Notes Payable (Final Pymt due 2016) | 105,000 | Depreciation Expense - Office Equip. | 0 |
Capital Stock | 50,000 | Office Supplies Expense | 0 |
Retained Earnings | 84,600 | Misc. Administrative Expense | 1,650 |
Dividends | 30,000 | Interest Expense | 11,600 |
Income Summary | 0 |
|
|
The data needed for year-end adjustments on December 31 is as follows:
Physical Inventory on 12/31 | 157,500 |
Insurance expired during year | 4,000 |
Store Supplies on hand 12/31 | 1,100 |
Office Supplies on hand 12/31 | 600 |
Store Equip Depreciation for year | 4,500 |
Office Equip Depreciation for year | 2,800 |
Sales Salaries payable 12/31 | 2,850 |
Office Salaries payable 12/31 | 800 |
Unearned rent on 12/31 | 800 |
Instructions:
- Prepare a work sheet for the fiscal year ending December 31, 2006. List all accounts in order given.
- Journalize the adjusting entries.
- Journalize the closing entries.
10 years ago 15
Purchase the answer to view it
- 10_column_worksheet_template_viaduct_co.xls
Purchase the answer to view it
- viaduct_co_complete.xlsx
- I WOULD LIKE TO DO '' WRITING ASSIGNMENTS"
- Competencies of a Visionary and Transformational Leader
- Assignment Health Care
- Hey everyone
- Are some products too dangerous to be marketed in any circumstance? What regulations, if any, would you place on marketing cigarettes? Handguns? Prescription drugs?
- algebra
- Information on needs and wants of the ancient communities . Information on system practised in exchanging their goods
- The medieval period has often been portrayed as the "Dark Ages" or the "Middle Ages"
- some questions of operation management
- Week 7 assignment