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Given the following information on Jamies Barbecues, please provide an adjusted trial balance and income statement. give complete answer and i will upvote. 1 2
Given the following information on Jamies Barbecues, please provide an adjusted trial balance and income statement. give complete answer and i will upvote.
1 2 7/1/19 Jamie's Barbecues issued stock to Mr. Investor for their contribution of $200,000. 3 7/1/19 Jamie's Barbecues purchased $75,000 of Inventory using cash. 4 7/1/19 $36,000 was paid in advance for 1 year of rent. 5 7/1/19 Jamie's Barbecues borrowed $30,000 on a 6 year, 6% annual Interest loan from Bank Z. 6 7/2/19 Purchased office supplies costing $4,000 on account. 7 7/3/19 Received and paid a bill for running an ad for $225. 8 7/4/19 Sold a barbecue worth $800 to a Abby A for $12,500 cash. 9 7/5/19 Purchased laptops for business use with $10,000 cash. 10 7/6/19 Purchased inventory for $2,000 on account. 11 7/8/19 Paid cash for half of supplies purchased on 7/2/19. 12 7/9/19 Sold $3,000 of barbecues to Bryan B for $8,000 on account with terms 2/10, 1/30. 13 7/10/19 Jamie's Barbecues established a petty cash fund in the amount of $600. 14 7/11/19 Sold $5,000 of barbecues to Chester Cfor $12,000 on account with terms 2/10, n/30. 15 7/12/19 Bryan 8 paid Jamie's Barbecues for the barbecues purchased on 7/9/19. 7/13/19 An analysis of inventory indicated that some barbecues were recorded above market value. 16 An inventory write down of $900 is required. 17 7/14/19 Jamie's Barbecues sold 3 gift cards for $300 each. No merchandise was sold at this time. 18 7/16/19 Sold a barbecue and cleaning kit worth $500 total to Darla D for $1,800. 19 7/20/19 Received $3,000 from a customer for 3 bikes to be delivered in June. 20 7/24/19 Chester C paid Jackson's Biking for purchases on 7/11/19 21 7/25/19 Returned $900 of cleaning kits back to their supplier, has not received the refund yet. Darla D returned a $600 barbecue purchased on 7/16/19. The inventory value of the 7/26/19 22 barbecue was $400. 23 7/27/19 Sold $500 of barbecue tools to Ella E for $700 on account. 24 7/29/19 Petty Cash was replenished for $400 25 7/31/19 Paid wages to employees for May totaling $15,000. 26 7/31/19 Paid dividends totaling $4,500. 27 28 The following data are available for adjusting entries: 29 30 7/31/19 Record rent expense for May. 31 7/31/19 Record monthly interest expense on the Bank Z loan. 32 7/31/19 Records show customers used $500 of gift cards to purchase inventory with a value of $300. 33 7/31/19 Jamie's Barbecues had a water bill of $1,200 unpaid at end of the month. 7/31/19 Record depreciation of laptop equipment for $1,000. 35 7/31/19 At the end of the month, $1,900 of supplies remain in the supply closet. 36 Step by Step Solution
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