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I need help completing the adjustments and identifying each adjustment with its corresponding letter, completing the worksheet, and entering the adjustments in the general journal.
I need help completing the adjustments and identifying each adjustment with its corresponding letter, completing the worksheet, and entering the adjustments in the general journal.
551 14-10A (L01/2/3/4) dj.col total: $72,650 Net loss: $45,760 COMPLETION OF A WORK SHEET SHOWING A NET LOSS The trial balance for Cascade Bicycle Shop, a business owned by David Lamond, is shown below. Year-end adjustment information is as follows: CLGL (a and b) Merchandise inventory costing $22,000 is on hand as of December 31 20. (The periodic inventory system is used.) (c) Supplies remaining at the end of the year, $2,400. (d) Unexpired insurance on December 31, $1,750 (e) Depreciation expense on the building for 20-, $4,000. (0) Depreciation expense on the store equipment for 20-, $3,600 (g) Unearned storage revenue as of December 31, $1,950 (h) Wages earned but not paid as of December 31, $750o. Cascade Bicgyde Shop Trial Balance December 31,20- 23 0 0 0 0 15 00 000 Accounts Recelvable Merchandise Inventory 2 00 00 46000 28100 00 53 000 00 Prepaid Insurance Land Accumulated Depreciation Building Ssore Equipment Accumulated Depredation-Store Equipment Accounts Payable Wages Payable ales Tax Payable Uneamed Stsrage Revenue Mortgage Payable D. Lamond, Capit D Lamond, Drawing 17101010100 7000 00 01010100 3800 00 5 6 00 00 42 00 0 0 657 60 00 3 000 00 1000 00 Sales Returns and Allowances Storage Revenue 240 0 0 Purchases Returns and Allowances Purchases Discounts Freight-n Wages Expense dertising Expene Supplies Expese Phone Expense Ubilities Expende Inmarance Expense 13 00 00 900 00 710 0100 22 00 00 9600 00 epreclation Expense-Store Equipment Miscellaneous Expense 300 4 10 00300410 0 (continued) Step by Step Solution
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