Darby Kite Store Trial Balance For Year Ended December 31,20-1 CCOUNT TITLE IT BALANCE REDIT BALANCE 11 7 0 0 00 11 2 0 0 00 25 0 0 000 12 0 0 0 800 00 Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accumulated DepreciationEquipment Accounts Payable Wages Payable Sales Tax Payable Unearned Revenue M.D. Akins, Capital M.D. Akins, Drawing Income Summar Sales Sales Returns and Allowances Purchases Purchases Returns and Allowance Purchases Discounts Freight-In Wages Expense Advertising Expense Supplies Expense Phone Expense Utilities Expense nsurance Expense 80 000 7 1 0 000 25 0 00 50 0 0 0 00 0 5 00 00 5549 0 00 14 5 0 00 345 0 0 00 11 0 0 00 6 3 000 3 6 0 00 10 8 8 0 00 7 4 0 00 11 0 0 00 2 3 0 0 00 Equipment eciation Miscellaneous Expense Interest Expense 3 2 000 At the end of the year, the following adjustments need to be made: a. Merchandise inventory as of December 31, $23,600 b. Merchandise inventory as of December 31, $23,600 c. Unused supplies on hand, $1,050 d. Insurance expired, $250 e. Depreciation expense for the year, $400. f. Wages earned but not paid (Wages Payable), $360. g. Unearned revenue on December 31, 20-1, $500. GENERAL JOURNAL Date 20-1 Dec Description Closing Entries Debit Credit 31 Purchases Returns& Allowances Purchases Discounts 31 Sales Returns &Allowances Purchases Freight-In Wages Expense Advertising Expense Supplies Expense Telephone Expense Utilities Expense Insurance Expense Depreciation Expense - Equipment Miscellaneous Expense Interest Expense 31 M. D. Akins, Drawing 20-2 Jan Reversing Entry