Concept explainers
Journalizing
The unadjusted trial balance for Travis Electronics Company at March 31, 2016, follows:
Requirements
1. Journalize the adjusting entries using the following data:
a. Interest revenue accrued, $450.
b. Salaries (Selling) accrued, $2,500.
c.
d. Interest expense accrued, $1,100.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $44,600.
2. Prepare Travis Electronics’s adjusted trial balance as of March 31, 2016.
3. Prepare Travis Electronics’s multi-step income statement for year ended March 31, 2016.
4. Prepare Travis Electronics’s statement of
5. Prepare Travis Electronics’s classified
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