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Dylex Corporation showed the following adjusted trial balance at December 31, 2014 (Dylex Corporation's first year-end). The merchandise inventory has been calculated by the Weighted
Dylex Corporation showed the following adjusted trial balance at December 31, 2014 (Dylex Corporation's first year-end). The merchandise inventory has been calculated by the Weighted Average method. Use this information to complete the following: Dylex Corporation Trial Balance December 31, 2014 a) Calculate the merchandise inventory value at December 31, 2014: Merchandise inventory, December 31, 2013 4,800 Purchases 171,700 Merchandise inventory, December 31, 2014 Cost of goods sold 124,500 Debit Credit 79,000 76,000 b) Prepare a multiple-step income statement for the year ended December 31, 2014: (select one) Income Statement (select one) Accounts payable Accounts receivable Accumulated depreciation, office furniture Accumulated depreciation, store fixtures Bonds payable (due December 31, 2018) Copyright Cost of goods sold Depreciation expense, office furniture Depreciation expense, store fixtures Income taxes expense mon Income taxes payable Interest earned Interest expense Interest payable Merchandise inventory Mortgage payable Notes receivable (due April 30, 2015) Office furniture Office supplies expense Rent receivable Rent expense, selling space Sales Sales discounts Sales returns and allowances Share capital Store fixtures Trademark Unearned revenue Totals 9.500 6,500 191,500 40,000 124,500 9.500 6.500 7,000 7,000 31,500 25,000 44,500 ??? 237,000 99,000 371,000 65,500 18,500 124.000 358,500 11,500 3,500 66,500 14,000 29,000 45,000 1,076,500 1,076,500 c) Prepare a classified balance sheet at December 31, 2014 (select one) Balance Sheet (select one)
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