Comprehensive Problem 2 Part 5: Optional worksheet

Enter the unadjusted trial balance on a 10-column end-of-period spreadsheet (work sheet), and complete the spreadsheet using the following adjustment data.

Line Item Description	Amount	Amount
a. Inventory on May 31		$570,000
b. Insurance expired during the year		12,000
c. Store supplies on hand on May 31		4,000
d. Depreciation for the current year		14,000
e. Accrued salaries on May 31:
Sales salaries	$7,000
Office salaries	6,600
Total		13,600

f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for the cost of goods sold.

If an amount box does not require an entry, leave it blank.

Palisade Creek Co. End-of-Period Spreadsheet (Work Sheet) For the Year Ended May 31, 20Y6

Account Title	Unadjusted Trial Balance Debit	Unadjusted Trial Balance Credit	Adjustments Debit	Adjustments Credit	Adjusted Trial Balance Debit	Adjusted Trial Balance Credit	Income Statement Debit	Income Statement Credit	Balance Sheet Debit	Balance Sheet Credit
Cash	fill in the blank 1	fill in the blank 2	fill in the blank 3	fill in the blank 4	fill in the blank 5	fill in the blank 6	fill in the blank 7	fill in the blank 8	fill in the blank 9	fill in the blank 10
Accounts Receivable	fill in the blank 11	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15	fill in the blank 16	fill in the blank 17	fill in the blank 18	fill in the blank 19	fill in the blank 20
Inventory	fill in the blank 21	fill in the blank 22	fill in the blank 23	fill in the blank 24	fill in the blank 25	fill in the blank 26	fill in the blank 27	fill in the blank 28	fill in the blank 29	fill in the blank 30
Estimated Returns Inventory	fill in the blank 31	fill in the blank 32	fill in the blank 33	fill in the blank 34	fill in the blank 35	fill in the blank 36	fill in the blank 37	fill in the blank 38	fill in the blank 39	fill in the blank 40
Prepaid Insurance	fill in the blank 41	fill in the blank 42	fill in the blank 43	fill in the blank 44	fill in the blank 45	fill in the blank 46	fill in the blank 47	fill in the blank 48	fill in the blank 49	fill in the blank 50
Store Supplies	fill in the blank 51	fill in the blank 52	fill in the blank 53	fill in the blank 54	fill in the blank 55	fill in the blank 56	fill in the blank 57	fill in the blank 58	fill in the blank 59	fill in the blank 60
Store Equipment	fill in the blank 61	fill in the blank 62	fill in the blank 63	fill in the blank 64	fill in the blank 65	fill in the blank 66	fill in the blank 67	fill in the blank 68	fill in the blank 69	fill in the blank 70
Accum. Depr.-Store Equip.	fill in the blank 71	fill in the blank 72	fill in the blank 73	fill in the blank 74	fill in the blank 75	fill in the blank 76	fill in the blank 77	fill in the blank 78	fill in the blank 79	fill in the blank 80
Accounts Payable	fill in the blank 81	fill in the blank 82	fill in the blank 83	fill in the blank 84	fill in the blank 85	fill in the blank 86	fill in the blank 87	fill in the blank 88	fill in the blank 89	fill in the blank 90
Salaries Payable	fill in the blank 91	fill in the blank 92	fill in the blank 93	fill in the blank 94	fill in the blank 95	fill in the blank 96	fill in the blank 97	fill in the blank 98	fill in the blank 99	fill in the blank 100
Customers Refunds Payable	fill in the blank 101	fill in the blank 102	fill in the blank 103	fill in the blank 104	fill in the blank 105	fill in the blank 106	fill in the blank 107	fill in the blank 108	fill in the blank 109	fill in the blank 110
Common Stock	fill in the blank 111	fill in the blank 112	fill in the blank 113	fill in the blank 114	fill in the blank 115	fill in the blank 116	fill in the blank 117	fill in the blank 118	fill in the blank 119	fill in the blank 120
Retained Earnings	fill in the blank 121	fill in the blank 122	fill in the blank 123	fill in the blank 124	fill in the blank 125	fill in the blank 126	fill in the blank 127	fill in the blank 128	fill in the blank 129	fill in the blank 130
Dividends	fill in the blank 131	fill in the blank 132	fill in the blank 133	fill in the blank 134	fill in the blank 135	fill in the blank 136	fill in the blank 137	fill in the blank 138	fill in the blank 139	fill in the blank 140
Sales	fill in the blank 141	fill in the blank 142	fill in the blank 143	fill in the blank 144	fill in the blank 145	fill in the blank 146	fill in the blank 147	fill in the blank 148	fill in the blank 149	fill in the blank 150
Cost of Goods Sold	fill in the blank 151	fill in the blank 152	fill in the blank 153	fill in the blank 154	fill in the blank 155	fill in the blank 156	fill in the blank 157	fill in the blank 158	fill in the blank 159	fill in the blank 160
Sales Salaries Expense	fill in the blank 161	fill in the blank 162	fill in the blank 163	fill in the blank 164	fill in the blank 165	fill in the blank 166	fill in the blank 167	fill in the blank 168	fill in the blank 169	fill in the blank 170
Advertising Expense	fill in the blank 171	fill in the blank 172	fill in the blank 173	fill in the blank 174	fill in the blank 175	fill in the blank 176	fill in the blank 177	fill in the blank 178	fill in the blank 179	fill in the blank 180
Depreciation Expense	fill in the blank 181	fill in the blank 182	fill in the blank 183	fill in the blank 184	fill in the blank 185	fill in the blank 186	fill in the blank 187	fill in the blank 188	fill in the blank 189	fill in the blank 190
Store Supplies Expense	fill in the blank 191	fill in the blank 192	fill in the blank 193	fill in the blank 194	fill in the blank 195	fill in the blank 196	fill in the blank 197	fill in the blank 198	fill in the blank 199	fill in the blank 200
Miscellaneous Selling Expense	fill in the blank 201	fill in the blank 202	fill in the blank 203	fill in the blank 204	fill in the blank 205	fill in the blank 206	fill in the blank 207	fill in the blank 208	fill in the blank 209	fill in the blank 210
Office Salaries Expense	fill in the blank 211	fill in the blank 212	fill in the blank 213	fill in the blank 214	fill in the blank 215	fill in the blank 216	fill in the blank 217	fill in the blank 218	fill in the blank 219	fill in the blank 220
Rent Expense	fill in the blank 221	fill in the blank 222	fill in the blank 223	fill in the blank 224	fill in the blank 225	fill in the blank 226	fill in the blank 227	fill in the blank 228	fill in the blank 229	fill in the blank 230
Insurance Expense	fill in the blank 231	fill in the blank 232	fill in the blank 233	fill in the blank 234	fill in the blank 235	fill in the blank 236	fill in the blank 237	fill in the blank 238	fill in the blank 239	fill in the blank 240
Miscellaneous Admin. Expense	fill in the blank 241	fill in the blank 242	fill in the blank 243	fill in the blank 244	fill in the blank 245	fill in the blank 246	fill in the blank 247	fill in the blank 248	fill in the blank 249	fill in the blank 250
Total	fill in the blank 251	fill in the blank 252	fill in the blank 253	fill in the blank 254	fill in the blank 255	fill in the blank 256	fill in the blank 257	fill in the blank 258	fill in the blank 259	fill in the blank 260
Net Income	fill in the blank 261	fill in the blank 262	fill in the blank 263	fill in the blank 264	fill in the blank 265	fill in the blank 266	fill in the blank 267	fill in the blank 268	fill in the blank 269	fill in the blank 270
Total	fill in the blank 271	fill in the blank 272	fill in the blank 273	fill in the blank 274	fill in the blank 275	fill in the blank 276	fill in the blank 277	fill in the blank 278	fill in the blank 279	fill in the blank 280