A02E ASSIGNMENT 04 Principles of Accounting I
topclassjobDirections: Be sure to save an electronic copy of your answer before submitting it to Ashworth College for grading. Unless otherwise stated, answer in complete sentences, and be sure to use correct English, spelling and grammar. Sources must be cited in APA format. Your response should be four (4) double-spaced pages; refer to the “Assignment Format" page located on the C Part A (40 points)
Use the following information to complete the partial worksheet for Bill's Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns.
Merchandise inventory—ending $10
Store supplies on hand 3
Depreciation on store equipment 2
Accrued salaries 1ourse Home page for specific format requirements.
Bill’s Company Partial Worksheet For the Year Ended December 31st, 2012 | ||||||
Account Titles | Trial Balance | Adjustments | Adjusted Trial Balance | |||
| Debit | Credit | Debit | Credit | Debit | Credit |
Merchandise Inv. | 16 |
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Store Supplies | 10 |
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Store Equipment | 20 |
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Accum. Depr. Store Equip. |
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Salaries Payable |
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Income Summary |
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Salary Expense | 10 |
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Depreciation Expense |
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Store Supplies Exp. |
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(1) Prepare the necessary general journal entry for June 16, Purchased merchandise having a price of $6,000 from the Shelby Manufacturing Co. on account with credit terms 2/10, n/30. Transportation terms F.O.B destination.
__________________________________________ __________ __________
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(2) Prepare the necessary general journal entry for June 17, Received the goods from Shelby.
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(3) Prepare the necessary general journal entry for June 25.
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(4) Prepare the necessary general journal entry for June 28.
__________________________________________ __________ __________
__________________________________________ __________ __________
_________________________________________ __________ __________
9 years ago
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