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( a ) Required The unadjusted trial balance has been entered on a 1 0 - column end - of - period spreadsheet ( work
a Required The unadjusted trial balance has been entered on a column endofperiod spreadsheet work sheet for you. Complete the spreadsheet using the following adjustment data a Physcial inventory count on June b Store supplies used during the month c Insurance expired during the Month d Depreciation for the current month e Accrued salaries on June : Sales salaries Total Amount $ f The adjustment for customer returns and allowances is $ for sales with $ in related cost of goods sold. g The Company uses the percent of credit sales method of estimated uncollectible accounts expense. Based on past history and industry averages, of credit sales are expected to be uncollectible. For this part of the scenario, assume all sales are credit sales. Journalize the adjusting entries. Post the adjusting entries to the general Ledger Prepare a multiplestep income statement Prepare a statement of stockholders' equity. Journalize the closing entries. Then post the cos of the allowance as demonstrated on page of the text. Prepare a postclosing trial balance. bonus points $ Purchased widgets on account from Martin Co terms FOB shipping point, $ including freight of $ $ of pointofsale coupons. The widgets returned were part of the last layer in the original sale cost wise. $ towards his delinquent past due and written off balanc do cargelely Palisade Creek Co For the month ended June
a
Required
The unadjusted trial balance has been entered on a column endofperiod spreadsheet work sheet for you. Complete the spreadsheet using the following adjustment data
a Physcial inventory count on June
b Store supplies used during the month
c Insurance expired during the Month
d Depreciation for the current month
e Accrued salaries on June : Sales salaries Total
Amount
$
f The adjustment for customer returns and allowances is $ for sales with $ in related cost of goods sold.
g The Company uses the percent of credit sales method of estimated uncollectible accounts expense. Based on past history and industry averages, of credit sales are expected to be uncollectible. For this part of the scenario, assume all sales are credit sales.
Journalize the adjusting entries. Post the adjusting entries to the general Ledger
Prepare a multiplestep income statement
Prepare a statement of stockholders' equity.
Journalize the closing entries. Then post the cos of the allowance as demonstrated on page of the text.
Prepare a postclosing trial balance. bonus points
$
Purchased widgets on account from Martin Co terms FOB shipping point, $ including freight of $ $ of pointofsale coupons.
The widgets returned were part of the last layer in the original sale cost wise. $ towards his delinquent past due and written off balanc
do cargelely
Palisade Creek Co
For the month ended June
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