Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I can't find Income Summary Assume ending Merchandise Inventory is $36,100 1 of 2 (2 complete) i Data Table - Tucker Department Store Adjusted Trial

I can't find Income Summary
Assume ending Merchandise Inventory is $36,100
image text in transcribed
image text in transcribed
image text in transcribed
1 of 2 (2 complete) i Data Table - Tucker Department Store Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash 8,600 85,000 37.900 600 Accounts Receivable Merchandise Inventory (beginning) Office Supplies Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock 83,000 $ 18,600 29,000 2,200 14,700 32 000 30,000 Print Done i Data Table 29,000 2,200 14.700 Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings 32,000 30.000 32,900 Dividends 88,500 Sales Revenue 388,000 Purchases 293.000 Purchase Returns and Allowances 115,000 6.100 Purchase Discounts Freight In 100 Selling Expense Administrative Expense 41,600 26,900 3,300 Interest Expense $ 668,500 $ Total 668,500 Print Done Close expenses and any contra-revenue accounts for the period. Date Debit Credit Dec 31 Clos (2) 293,000 Accounts and Explanation Income Summary Purchases Freight in Merchandise Inventory (beginning) Selling Expenses Administrative Expenses Interest Expense 100 37.900 41,600 26,900 3,300 To close expenses and other debit accounts Choose from any list or enter any number in the input fields and then click Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Medicare Recovery Audit Contractor Program A Survival Guide For Healthcare Providers

Authors: Duane C. Abbey

1st Edition

1439821003, 978-1439821008

More Books

Students also viewed these Accounting questions

Question

6. Identify seven types of hidden histories.

Answered: 1 week ago

Question

What is human nature?

Answered: 1 week ago