Current Attempt in Progress On December 1, 2017, Devine Distributing Company had the following account balances. Credit 4,800 Cash Accounts Receivable Inventory Supplies Equipment Debit $7,300 Accumulated Depreciation-Equipment 4,800 Accounts Payable 12,200 Salaries and Wages Payable 1,400 Common Stock 22,900 Retained Earnings $48,600 14,500 25,810 $48,600 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries due employees, of which $600 is for December and $1,200 is for November salaries payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $7,000. The cost of the merchandise sold was $4,200. 13 Purchased merchandise on account from Hecht Co. $9,000, terms 2/10,n/30. 15 Purchased supplies for cash $1,700. 18 Sold merchandise on account $12.900, terms 3/10, 1/30. The cost of the merchandise sold was $8,300. 20 Paid salaries $1,800. 23 Paid Hecht Co. in full, less discount. 27 Received collections in fullless discounts, from customers billed on December 18. Journalize the December transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount i not indent manually.) y system (Credit account titles are automatically indented when amount is entered. Do Journalize the December transactions using a perpetual invent not indent manually.) Credit Date Account Titles and Explanation Dec. 6 (To record the sales (To record cost of goods sold.) (To record the sales revenue.) (To record the sales revenue.) (To record cost of goods sold.) Dec. 27 e Textbook and Media List of Accounts Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense e Textbook and Media List of Accounts Adjustment data: 1. Accrued salaries payable $500. 2. Depreciation $208 per month 3. Supplies on hand $1,700. 4. Income tax due and unpaid at December 31 is $190. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Post the above adjusting entries. (Post entries in the order of journal entries presented above.) Cash 7,300 12/6 12/1 Bal. 1,800 1 700 12/1 Bal. 12/8 12/10 12/27 12/31 Bal. Cash 7,300 12/6 1,900 12/15 7,000 12/20 12,513 12/23 14,593 1,800 1,700 1,800 8,820 12/1 Bal. 12/18 12/31 Bal. Accounts Receivable 4,800 12/8 12,900 12/27 2,900 1,900 12,900 12/1 Bal. 12/13 Inventory 12,200 12/10 9,000 12/18 12/23 8,520 4,200 8,300 180 12/31 Bal. Supplies 12/1 Bal. 1,400 12/15 1,700 12/1 Bal. 12/31 Bal. Equipment 22,900 22,900 Accumulated Depreciation-Equipment 12/1 Bal. 2,290 12/23 4,800 Accounts Payable 9,000 12/1 Bal. 12/13 12/31 Bal. 9.000 Salaries and Wages Payable 1,200 12/1 Bal. 1,200 Income Taxes Payable Common Stock 12/1 Bal 12/31 Bal. 14,500 14,500 Retained Earnings 12/1 Bal. 12/31 Bal. 25,810 25,810 Sales Revenue 12/10 12/18 12/31 Bal. 7,000 12.900 19.900 12/27 12/31 Bal. Sales Discounts 387 387 12/10 12/18 12/31 Bal Cost of Goods Sold 4,200 8.300 12,500 Depreciation Expense Salaries and Wages Expense 12/6 600 12/20 1.800 Supplies Expense Supplies Expense Income Tax Expense e Textbook and Media List of Accounts Prepare an adjusted trial balance. DEVINE DISTRIBUTING COMPANY Adjusted Trial Balance DEVINE DISTRIBUTING COMPANY Adjusted Trial Balance Debit Credit e Textbook and Media List of Accounts Prepare an income statement. DEVINE DISTRIBUTING COMPANY Income Statement e Textbook and Media Prepare a retained earnings statement for December. DEVINE DISTRIBUTING COMPANY Retained Earnings Statement e Textbook and Media List of Accounts DEVINE DISTRIBUTING COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity e Textbook and Media List of Accounts Current Attempt in Progress On December 1, 2017, Devine Distributing Company had the following account balances. Credit 4,800 Cash Accounts Receivable Inventory Supplies Equipment Debit $7,300 Accumulated Depreciation-Equipment 4,800 Accounts Payable 12,200 Salaries and Wages Payable 1,400 Common Stock 22,900 Retained Earnings $48,600 14,500 25,810 $48,600 During December, the company completed the following summary transactions. Dec. 6 Paid $1,800 for salaries due employees, of which $600 is for December and $1,200 is for November salaries payable. 8 Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $7,000. The cost of the merchandise sold was $4,200. 13 Purchased merchandise on account from Hecht Co. $9,000, terms 2/10,n/30. 15 Purchased supplies for cash $1,700. 18 Sold merchandise on account $12.900, terms 3/10, 1/30. The cost of the merchandise sold was $8,300. 20 Paid salaries $1,800. 23 Paid Hecht Co. in full, less discount. 27 Received collections in fullless discounts, from customers billed on December 18. Journalize the December transactions using a perpetual inventory system. (Credit account titles are automatically indented when amount i not indent manually.) y system (Credit account titles are automatically indented when amount is entered. Do Journalize the December transactions using a perpetual invent not indent manually.) Credit Date Account Titles and Explanation Dec. 6 (To record the sales (To record cost of goods sold.) (To record the sales revenue.) (To record the sales revenue.) (To record cost of goods sold.) Dec. 27 e Textbook and Media List of Accounts Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Sales Revenue Sales Discounts Cost of Goods Sold Salaries and Wages Expense e Textbook and Media List of Accounts Adjustment data: 1. Accrued salaries payable $500. 2. Depreciation $208 per month 3. Supplies on hand $1,700. 4. Income tax due and unpaid at December 31 is $190. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Post the above adjusting entries. (Post entries in the order of journal entries presented above.) Cash 7,300 12/6 12/1 Bal. 1,800 1 700 12/1 Bal. 12/8 12/10 12/27 12/31 Bal. Cash 7,300 12/6 1,900 12/15 7,000 12/20 12,513 12/23 14,593 1,800 1,700 1,800 8,820 12/1 Bal. 12/18 12/31 Bal. Accounts Receivable 4,800 12/8 12,900 12/27 2,900 1,900 12,900 12/1 Bal. 12/13 Inventory 12,200 12/10 9,000 12/18 12/23 8,520 4,200 8,300 180 12/31 Bal. Supplies 12/1 Bal. 1,400 12/15 1,700 12/1 Bal. 12/31 Bal. Equipment 22,900 22,900 Accumulated Depreciation-Equipment 12/1 Bal. 2,290 12/23 4,800 Accounts Payable 9,000 12/1 Bal. 12/13 12/31 Bal. 9.000 Salaries and Wages Payable 1,200 12/1 Bal. 1,200 Income Taxes Payable Common Stock 12/1 Bal 12/31 Bal. 14,500 14,500 Retained Earnings 12/1 Bal. 12/31 Bal. 25,810 25,810 Sales Revenue 12/10 12/18 12/31 Bal. 7,000 12.900 19.900 12/27 12/31 Bal. Sales Discounts 387 387 12/10 12/18 12/31 Bal Cost of Goods Sold 4,200 8.300 12,500 Depreciation Expense Salaries and Wages Expense 12/6 600 12/20 1.800 Supplies Expense Supplies Expense Income Tax Expense e Textbook and Media List of Accounts Prepare an adjusted trial balance. DEVINE DISTRIBUTING COMPANY Adjusted Trial Balance DEVINE DISTRIBUTING COMPANY Adjusted Trial Balance Debit Credit e Textbook and Media List of Accounts Prepare an income statement. DEVINE DISTRIBUTING COMPANY Income Statement e Textbook and Media Prepare a retained earnings statement for December. DEVINE DISTRIBUTING COMPANY Retained Earnings Statement e Textbook and Media List of Accounts DEVINE DISTRIBUTING COMPANY Balance Sheet Assets Liabilities and Stockholders' Equity Liabilities and Stockholders' Equity e Textbook and Media List of Accounts