Comprehensive Problem 2

Part 4

4. At the end of May, the following adjustment data were assembled. Analyze and use these data to complete Part 6.

a. Merchandise inventory on May 31 b. Insurance expired during the year c. Store supplies on hand on May 31 d. Depreciation for the current year e. Accrued salaries on May 31: Sales salaries Office salaries $550,000 12,000 4,000 14,000 $7,000 6,600 13,600

6. Journalize the adjusting entries. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2.

Comprehensive Problem 2 Part 4 and 6: Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6. Part 5 is an optional wort 4. At the end of May, the following adjustment data were assembled. Analyze and data to complete Part e use these a Merchandise inventory on May 31 $550,000 Insurance expired during the year 12.000 c store supplies on hand on May 31 4.000 d. Depreciation for the aurrent year 14.000 e. Accrued salaries on May 31: Sales salaries $7,000 Office salaries 6600 13600 6. loumalize the adjusting entries. For a compound transaction, i an amount box does not require an entry, leave it Description Credit 2014 May 31 Cost of 550,0C Merchandise inventory 275 May 31 Insurance Expense 12000 Store Suppan Exponae 4000 Store supplies May 31 Depreciation Expanse type here to search Comprehensive Problem 2 Part 4 and 6: Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6. Part 5 is an optional wort 4. At the end of May, the following adjustment data were assembled. Analyze and data to complete Part e use these a Merchandise inventory on May 31 $550,000 Insurance expired during the year 12.000 c store supplies on hand on May 31 4.000 d. Depreciation for the aurrent year 14.000 e. Accrued salaries on May 31: Sales salaries $7,000 Office salaries 6600 13600 6. loumalize the adjusting entries. For a compound transaction, i an amount box does not require an entry, leave it Description Credit 2014 May 31 Cost of 550,0C Merchandise inventory 275 May 31 Insurance Expense 12000 Store Suppan Exponae 4000 Store supplies May 31 Depreciation Expanse type here to search