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Can you help me with journal entry and adjusting entry please Pad 3:28 PM moodle 3.lsu.edu Travis Auto Parts Post-Closing Trial Balance December 31 2014
Can you help me with journal entry and adjusting entry please
Pad 3:28 PM moodle 3.lsu.edu Travis Auto Parts Post-Closing Trial Balance December 31 2014 Credit Debit $11,520 Cash Accounts Receivable 3,820 Allowance for Bad Debts 9,500 Inventory 250 Supplies Prepaid Rent Prepaid Insurance 640 Store Equipment 23,600 Accumulated Depreciation $14 160 4,660 Accounts payable 6,000 Short-term Notes Payable Interest Payable on the $16,000 note 400 Salaries Payable 580 Unearned Revenue Michael Travis Capital 13,530 49, 330 49, 330 REQUIRED: During 2015, the following transactions occurred Prepare any necessary journal entries you should set up T-accounts for the For your own purposes and owner withdrawals as needed temporary accounts revenues expenses also suggest keeping track of entries you think will require an adjusting entry at the end of the year DO NOT PREPARE MONTHLY ADJUSTING AND CLOSING ENTRIES wait until year-end to prepare these entries Travis Auto Parts does not use reversing entries Sold store equipment for The equipment originall January 3 cost $8,000 and had a book value of $4,800 Given this information, you should be able to derive the accumulated depreciation on the equipment, and determine the gain or loss on the sale.) Purchased inventory on account for $18,500 Travis Auto January 7 Parts uses a periodic system of inventory control January 10 Sold goods on account for $12,000. Made cash sales of $8,300 Paid salaries owed to employees at the end of 2014 January 15 63%, DStep by Step Solution
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