Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could someone please help with the journal entries for these transactions? There is no complete balance. Only this information. he transactins picture should be journalized

Could someone please help with the journal entries for these transactions? There is no complete balance. Only this information. he transactins picture should be journalized first.
a. Merchandise inventory on hand at December 31, per physical count, $250,465.
b. Insurance coverage expired during the year, $20,100.
c. Supplies on hand at December 31,$4,820.
d. Additional depreciation to be recorded on the equipment for the year, $13,500.
e. Accrued sales salaries $1,800 and accrued office salaries $890 on December 31.
f. Accrued interest on the note payable as of December 31,$410.
g. Unearned Rent at December 31 is $8,300.
h. Company estimates that customers will request an additional $13,015 of refunds related to current year sales and the related merchandise to be costing $6,210 will be returned.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Eco Management And Audit Scheme

Authors: Gerardus Blokdyk

3rd Edition

0655169709, 978-0655169703

More Books

Students also viewed these Accounting questions