How to do the general journal? And judge which one is appropriate to reverse this adjusting entry? Post the adjusting entries to the general ledger. Enter adjusting entries on the worksheet & complete the adjusted trial balance on the worksheet.

Note: For a worksheet under the periodic inventory system, the beginning balance in Inventory from the trial balance is extended to the debit column of the Income Statement columns, and the ending balance of Inventory is put in the credit column of the Income Statement columns and the debit column of the Balance Sheet columns.

2. Prepare a multi-step income statement, a statement of retained earnings, a classified balance sheet, and a statement of cash flows (indirect method)

3. Prepare the necessary closing entries on a new page of the journal, using an Income Summary account, and post them tho the general ledger. The closing entries include a credit to Inventory for the amount of the beginning inventory and a debit to Inventory for the amount of the ending inventory.

4. Prepare a post-closing trial balance as of December 31, 2014. The balances should be drawn from your general ledger.

Dec. 1. Paid $7500 to cover rent for December, January, February, and March. 2. Paid an annual premium of $8400 for business insurance. 3. Received $16500 from a customer to satisfy a balance from sales in September. 3. Paid $28500 for display cases and other store fixtures. 5. Borrowed $20000 from the bank, signing a 3-year, 6.9% promissory note. 7. Purchased $48000 of merchandise from Gilbert Company with terms 2/10, n/30. 9. Purchased merchandise for $23000 cash. 10. Returned damaged merchandise to Gilbert Company; received credit for $17,000. 10. Investors paid a total of $30,000 to purchase 20,000 shares of the company's $.08 par value common stock. 10. Sold merchandise to R.J. Anderson on account, 28000 with terms 2/10, net/30. 12. Received and paid telephone bill in the amount of $ 425 for December service. 13. Completed a $9700 credit sale to Ben Jackson with terms 1/10, n/30. 14. Paid the balance due to Gilbert Company. 15. Received $2000 of merchandise returned by Ben Jackson. 16. Purchased $18000 of merchandise from Leo Company with terms 1/10, n/30. 17. A company that owed us $1100 filed bankruptcy. The account was written off. 19. Bought $530 of supplies on account. 20. Sold merchandise on account to Martha Conner for $26000, terms 2/15, n/30. 20. Received payment in full from Ben Jackson. 24. Received a $385 bill for electricity used in December. 28. Received a check from R.J. Anderson for payment in full. 28. Recorded cash sales for December totaling $39,650. 29. Paid half of the amount owed to Leo Company. 1. How to do the general journal? And judge which one is appropriate to reverse this adjusting entry? Post the adjusting entries to the general ledger. Enter adjusting entries on the worksheet & complete the adjusted trial balance on the worksheet. Note: For a worksheet under the periodic inventory system, the beginning balance in Inventory from the trial balance is extended to the debit column of the Income Statement columns, and the ending balance of Inventory is put in the credit column of the Income Statement columns and the debit column of the Balance Sheet columns. 2. Prepare a multi-step income statement, a statement of retained earnings, a classified balance sheet, and a statement of cash flows ( indirect method) 3. Prepare the necessary closing entries on a new page of the journal, using an Income Summary account, and post them tho the general ledger. The closing entries include a credit to Inventory for the amount of the beginning inventory and a debit to Inventory for the amount of the ending inventory. 4. Prepare a post-closing trial balance as of December 31, 2014. The balances should be drawn from your general ledger. Additional Information: Do not count individual days. Base calculations on full months Bad Debt Expense is based on an estimate of 3% of accounts receivable. Store fixtures are depreciated using the straight-line method with an estimated useful life of 5years, and an estimated salvage value of $4.500. A count of office supplies shows that $ 385 of supplies are on hand. For closing entries and to complete the worksheet, you need an ending inventory amount. $28,750 of merchandise was on hand as of December 31