Help Save & Exit Check The fiscal year-end unadjusted trial balance for Lewis Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Lewis Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired Insurance, an administrative expense, for the fiscal year is $1.820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11.280 of inventory is still available at fiscal year-end. Requirement General Journal General Ledger Trial Balance Multiple Step IS Single Step IS Balance Sheet Ratios For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8, prepare the required closing entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Store supplies still available at fiscal year-end amount to $2,800. Note: Enter debits before credits Account Title Date Jan 31 Debit Credit a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of invento fiscal year-end. Requirement General General Journal Multiple Step Ledger Trial Balance IS Single Step is Balance Sheet Ratios For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8, prepare the required closing View transaction list Journal entry worksheet View transaction list Journal entry worksheet Record the entry to close income statement accounts with debit balances. Note: Enter debits before credits Date Account Title Jan 31 Debit Credit Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet a ! 1 @ 2 # 3 $ 4 01* A * rab Q 6 W 7 E 8 0 R 6 T as lock Y U S C GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year-end unadjusted trial balance for Lewis Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activ Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of inventory is still ava fiscal year-end. Requirement General Journal General Ledger Trial Balance Multiple Step IS Single Step Is Balance Sheet Ratios Compute the following ratios as of January 31, 2017. Round each ratio to 2 decimal places. Dates: Jan 31 to: Jan 31 Current ratio Acid-test ratio Gross margin ratio Balance Sheet OG > Help Save & Exit Check The fiscal year-end unadjusted trial balance for Lewis Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Lewis Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired Insurance, an administrative expense, for the fiscal year is $1.820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11.280 of inventory is still available at fiscal year-end. Requirement General Journal General Ledger Trial Balance Multiple Step IS Single Step IS Balance Sheet Ratios For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8, prepare the required closing entries. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Store supplies still available at fiscal year-end amount to $2,800. Note: Enter debits before credits Account Title Date Jan 31 Debit Credit a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of invento fiscal year-end. Requirement General General Journal Multiple Step Ledger Trial Balance IS Single Step is Balance Sheet Ratios For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8, prepare the required closing View transaction list Journal entry worksheet View transaction list Journal entry worksheet Record the entry to close income statement accounts with debit balances. Note: Enter debits before credits Date Account Title Jan 31 Debit Credit Record entry Clear entry View general journal Journal entry worksheet Journal entry worksheet a ! 1 @ 2 # 3 $ 4 01* A * rab Q 6 W 7 E 8 0 R 6 T as lock Y U S C GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year-end unadjusted trial balance for Lewis Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activ Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, for the fiscal year is $1,820. c. Depreciation expense on store equipment, a selling expense, is $6,000 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,280 of inventory is still ava fiscal year-end. Requirement General Journal General Ledger Trial Balance Multiple Step IS Single Step Is Balance Sheet Ratios Compute the following ratios as of January 31, 2017. Round each ratio to 2 decimal places. Dates: Jan 31 to: Jan 31 Current ratio Acid-test ratio Gross margin ratio Balance Sheet OG >