Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 5, Problem P5.37APGA
Journalizing
Learning Objective 4, 5
2. Total Credits $463, 300
The unadjusted trial balance for Trudel Electronics Company at March 31, 2018, follows:
| TRUDEL ELECTRONICS COMPANY Adjusted Trial Balance March 31, 2018 |
||
| Balance | ||
| Account Title | Debit | Credit |
| Cash | $ 4,000 | |
| 38,800 | ||
| Merchandise Inventory | 45,500 | |
| Office Supplies | 6,500 | |
| Equipment | 130,000 | |
| $ 36,800 | ||
| Accounts Payable | 17,400 | |
| Unearned Revenue | 13,200 | |
| Notes Payable, long-term | 48,000 | |
| Trudel, Capital | 60,100 | |
| Trudel, Withdrawals | 20,000 | |
| Sales Revenue | 282,500 | |
| Cost of Goods Sold | 160,600 | |
| Salaries Expense (Selling) | 20,000 | |
| Rest Expense (Selling) | 15,800 | |
| Salaries Expense (Administrative) | 5,700 | |
| Utilities Expense(Administrative) | 11,100 | |
| Total | $458,000 | $458,000 |
Requirements
- Journalize the adjusting entries using the following data: a. Interest revenue accued, $200.
b. Salaries (Selling) accrued, $2,300.
c. Depreciation Expense-Equipment (Administrative), $1,300.
d. Interest expense accued, $1,500.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $45,200.
f Trudel estimates that approximately $6,000 of merchandise sold will be returned with a cost of $1,200.
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Prepare the Adjusted Trial Balance for Smart Touch Learning for December. Check your spelling carefully and do not abbreviate. Enter account names exactly as provided in the account chart. Enter accounts in the order Assets, Liabilities, Equity, Revenues, and Expenses.
ACCOUNT
VALUE
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Adjusted Trial BalanceDecember 31, 2016Month ended December 31, 2016Smart Books LearningSmart Touch LearningUnadjusted Trial Balance
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Chapter 5 Solutions
Horngren's Accounting (12th Edition)
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