Income statement Cash $112,500 Gerri Faber, Drawing $67,40 Accounts Receivable 302,600 Sales 4,066,6 Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment 341,900 Cost of Merchandise Sold 2,383,0 13,500 670,10 Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment 35,900 10,600 184,30 8,200 247,500 Miscellaneous Selling Expense 15,700 Accumulated Depreciation-Office Equipment 168,200 Office Salaries Expense 365,80 772,700 Rent Expense 54,000 Store Equipment Accumulated Depreciation-Store Equipment 247,500 Insurance Expense Accounts Payable Customer Refunds Payable 16,800 171,300 Depreciation Expense Office Equipment 27,000 Office Supplies Expense 27,000 9,900
Income statement Cash $112,500 Gerri Faber, Drawing $67,40 Accounts Receivable 302,600 Sales 4,066,6 Merchandise Inventory Estimated Returns Inventory Office Supplies Prepaid Insurance Office Equipment 341,900 Cost of Merchandise Sold 2,383,0 13,500 670,10 Sales Salaries Expense Advertising Expense Depreciation Expense-Store Equipment 35,900 10,600 184,30 8,200 247,500 Miscellaneous Selling Expense 15,700 Accumulated Depreciation-Office Equipment 168,200 Office Salaries Expense 365,80 772,700 Rent Expense 54,000 Store Equipment Accumulated Depreciation-Store Equipment 247,500 Insurance Expense Accounts Payable Customer Refunds Payable 16,800 171,300 Depreciation Expense Office Equipment 27,000 Office Supplies Expense 27,000 9,900
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter14: Adjustments And The Work Sheet For A Merchandising Business
Section: Chapter Questions
Problem 1SEA: ADJUSTMENT FOR MERCHANDISE INVENTORY USING T ACCOUNTS: PERIODIC INVENTORY SYSTEM Matt Henry owns a...
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