Group A-
Problems 9-1a -3a
In each of the following situations, calculate the amount of the adjustment needed as of December 31, the end of the current accounting period.
Account Balance Office Salaries Expense $ 15, 000 Office Supplies Expense Utilities Expense* 6. 000 Insurance Expense Depreciation Expense _ Office Equipment Adjustment data :" ( a) and ( b) Merchandise inventory , December 31 , $13, 410. ( C ) Office supplies on hand , $2, 190. ( d) Store supplies on hand , $4, 175. ( e ) Insurance expired , $800 . ( f) Salaries accrue `` ryed : office , $180 ; sales , $3.60. ( 8) Depreciation of office equipment , $3, 600 . ( h ) Depreciation of store equipment , $8, 400 . ( 1) Depreciation of delivery equipment , $9, 000. Directions : Prepare a work sheet for the year ended December 31 , 20x1. 2 Problem 9_ 4A DOTTEDATE A WORK SheetProblem 9 . 31| Objective: To prepare a work sheet Account balances and adjustment data For Marcina Carpet Shop Follower ACCOUNT Balance Cash $ 6. 725 Accounts Receivable 9, 450 Merchandise Inventory January 1 1/ 13. 165 Office Supplies 18. 210 Store Supplies 14.575 Prepaid Insurance 2, 400 Office Equipmen! 38,000 Accumulated Depreciation _ Office Equipment 3,000 Store Equipment $4,000 -Accumulated Depreciation- Store Equipment 25. 20 0 Delivery Equipment 27. 00.0 Accumulated Depreciation_ Delivery Equipment 13. 50.0 Accounts Payable 18. 510 Salaries Payable Joyce Moreira , Capital B.B. 2 20 Joyce Moreira , Drawing 24.000 Income Summary Sales. 46.5, 50 0 Sales Flotums and Allowances 21. 540 Sales Discounts 2. 310 Purchases 301. 240 09 Purchases Floturns and Allowances 19. 585 {` Purchases. Discounts Freight In 14. 590.P. R Sales Salaries Expanse 30.0.0 0 Store Supplies EXPENSE Advertising Expenses 4.50 0 Depreciation Expense_ Store Equipment Depreciation Expense - Delivery Equipment Plant Expense 12: 000 not the Merchandising Thisiness.REVIEW, PRACTICE, AND APPLY (c) The Prepaid Insurance account shows a debit balance of $3,240, representing a 3-year premium paid on March 1 of the current year. (d) Salaries of $72,000 are paid weekly on Monday for the preceding 5-day work week. This year, December 31 fell on a Tuesday. Problem 9-2A Objective: To record adjustments in T accounts Directions: In each of the following unrelated transactions, record in T accounts opening balances, purchases, and adjustments as of December 31 of the current year. (a) Merchandise inventory (beginning) on January 1 was $91,645. Merchandise inventory (ending) on December 31 is $87,365 (b) The Office Supplies account shows a January 1 balance of $8,145, a July 1 purchase of $17,510, and a December 31 inventory of $4,175. (c) The Store Supplies account shows a January 1 balance of $7,250, a March 1 purchase of $15,595, and a December 31 inventory of $8,165. (d) The Prepaid Insurance account shows a payment for a 2-year policy on October ! of this year in the amount of $1 800BEVIEW AMNOT`S AND APPLY ( C ) The Prepaid Insurance account shows a debit balance of $3, 240, representing a 3 - year premium paid on March 1 of the current year . ( $1 ) Salaries of $72, 000 are paid weekly on Monday for the preceding 5- day work week This year , December 31 fell on a Tuesday.Co (a) Group A Problem 9-1A $5,775. (e) Accrued salaries, $3. Objective: To calculate amounts of adjustments (f) Depreciation of equipment, $3. needed as of December 31, the end of the current accounting period. b) The Store Supplies account shows a balance of $11,475 on January 1 and purchase of $16,755 on July 1. The December 31 inventory is $7,520. The Office Supplies account shows a balance of $7,295 on January 1 and a Directions: In each of the following situations, calculate the amount of the adjustment purchases of $35,640 and $19,570 during the year. The December 31 inventory is Chapter 9. |. Work Sheet and Adjustments for a Merchandising Business 433
