College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570



College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

The trial balance of Jillson Company as of December 31, the end of its current fiscal year, is as follows:


Here are the data for the adjustments.

a–b. Merchandise Inventory at December 31, $54,845.00.

c. Store supplies inventory (on hand), $488.50.

d. Insurance expired, $680.

e. Salaries accrued, $692.

f. Depreciation of store equipment, $3,760.


Complete the work sheet after entering the account names and balances onto the work sheet.

To determine

Record the adjustments, income statement and balance sheet in order to complete the worksheet.


Income statement: The financial statement which reports revenues and expenses from business operations and the result of those operations as net income or net loss for a particular time period is referred to as income statement.

Balance sheet: This financial statement reports a company’s resources (assets) and claims of creditors (liabilities) and stockholders (stockholders’ equity) over those resources. The resources of the company are assets which include money contributed by stockholders and creditors. Hence, the main elements of the balance sheet are assets, liabilities, and stockholders’ equity...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

RESULTS OF EXCHANGE RATE CHANGES Early in June 1983, it took 245 Japanese yen to equal 1. In June 2013, that ex...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

An overstatement of ending inventory in the year 20-1 will cause net income to be overstated in the year 20-1.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

What is a service? Explain how services differ from tangible products.

Cornerstones of Cost Management (Cornerstones Series)