Question
~ I need post closing trial balances please! Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory 85,221
~ I need post closing trial balances please!
Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory 85,221 Office Supplies 2250 Store Supplies' 885 Prepaid Insurance 1659 Office equipment 2500 Accumulated depreciation-Office Equipment $658 Store equipment 16580 Accumulated depreciation-Store Equipment 2,268 Accounts Payable 50921 J. Spark, Capital 132,534 Totals $186,381 $186,381 Using the information from the Excel workbook from Week 3s submission, complete a worksheet using the following information for accounting adjustments. Complete the columns for the below adjusting entries, income statement, and balance sheet. Also, record the required closing entries. Add any lines as necessary. 1. Expired insurance, $553. 2. Ending store supplies inventory, $2,632. 3. Ending office supplies inventory, $504. 4. Depreciation of store equipment, $567. 5. Depreciation of office equipment, $329..
Need help completing T accounts and worksheet. I completed the General Journal Entries.
MY GENERAL JOURNAL ENTRIES
GENERAL JOURNAL | ||||||||
Date | Account Titles and Explanation | Debit | Credit | |||||
May | 1 | Rent Expense- Selling Space | 2968 | |||||
Rent Expense- Office Space | 742 | |||||||
Cash | 3710 | |||||||
Paid May's rent | ||||||||
May | 2 | Accounts Receivable- Hensel | 6100 | |||||
Sales Revenue | 6100 | |||||||
Cost of Goods Sold | 4100 | |||||||
Inventory | 4100 | |||||||
Merchandise Sales on credit | ||||||||
A18:I92May | 2 | Sales Returns and allowances | 175 | |||||
Accounts Receivable | 175 | |||||||
Defective product return | ||||||||
May | 3 | Accounts Payable | 798 | |||||
Merchandise Inventory | 798 | |||||||
Return on merchandise | ||||||||
May | 4 | Merchandise Inventory | 37072 | |||||
Store Supplies | 574 | |||||||
Office Supplies | 83 | |||||||
Accounts Payable | 37729 | |||||||
Purchased Supplies on credit | ||||||||
May | 5 | Cash | 4459 | |||||
Sales Discount | 91 | |||||||
Accounts Receivable | 4550 | |||||||
Payment received for April 28 sale | ||||||||
May | 8 | Accounts Payable | 6300 | |||||
Merchandise Inventory | 126 | |||||||
Cash | 6174 | |||||||
Payment to Peyton Product less discount | ||||||||
May | 9 | Cash | 350 | |||||
Store Supplies | 350 | |||||||
Sold Supplies | ||||||||
May | 10 | Office Equipment | 4074 | |||||
Accounts Payable | 4074 | |||||||
Purchased equipment on credit | ||||||||
May | 11 | Cash | 5978 | |||||
Sales Discount | 122 | |||||||
Accounts Receivable | 6100 | |||||||
Payment Received from Hensel Company | ||||||||
May | 11 | Merchandise Inventory | 8800 | |||||
Accounts Payable | 8800 | |||||||
Purchased Merchandise from Garcia Inc | ||||||||
May | 12 | Accounts Payable | 854 | |||||
Office Equipment | 854 | |||||||
Returned defective equipment | ||||||||
May | 15 | Sales Salaries | 5320 | |||||
Office Salaries | 3150 | |||||||
Cash | 8470 | |||||||
Check 3412 used to pay employees | ||||||||
May | 15 | Cash | 59220 | |||||
Sales | 59220 | |||||||
Merchandise sold for cash | ||||||||
Cost of Goods Sold | 38200 | |||||||
Merchandise Inventory | 38200 | |||||||
To record cost of goods sold | ||||||||
May | 16 | Accounts Receivable | 3990 | |||||
Sales | 3990 | |||||||
Sold merchandise on credit to Hensel Company | ||||||||
May | 16 | Cost of Goods Sold | 1890 | |||||
Merchandise Inventory | 1890 | |||||||
Record Cost of Goods Sold first half | ||||||||
May | 17 | Merchandise Inventory | 13650 | |||||
Accounts Payable | 13650 | |||||||
Purcased Merchandise From Fink Corp | ||||||||
May | 19 | Account Payable | 8800 | |||||
Merchadise Inventory | 176 | |||||||
Cash | 8624 | |||||||
Paid outstanding bill less discount | ||||||||
May | 22 | Accounts Receivable | 6850 | |||||
Sales | 6850 | |||||||
Sold Merchandise to Lee Services | ||||||||
May | 23 | Accounts Payable | 13650 | |||||
Merchadise Inventory | 273 | |||||||
Cash | 13377 | |||||||
Paid outstanding bill less discount | ||||||||
May | 24 | Merchandise Inventory | 8120 | |||||
Store Supplies | 630 | |||||||
Office Supplies | 280 | |||||||
Accounts Payable | 9030 | |||||||
Purchased Items on credit | ||||||||
May | 25 | Merchandise Inventory | 3080 | |||||
Accounts Payable | 3080 | |||||||
Purchased merchandise from Peyton Products | ||||||||
May | 26 | Accounts Receivable | 14210 | |||||
Sales | 14210 | |||||||
Sold Items on credit to Crane Corp | ||||||||
May | 26 | Cost of Goods Sold | 8230 | |||||
Merchandise Inventory | 8230 | |||||||
Record cost of goods sold | ||||||||
Utilities Expense | 1283 | |||||||
Cash | 1283 | |||||||
Paid Perennial Power | ||||||||
May | 29 | Jenni Colo Withdrawals | 7000 | |||||
Cash | 7000 | |||||||
Record cash withdrawal check 3416 | ||||||||
May | 30 | Cash | 6713 | |||||
Sales discount | 137 | |||||||
Accounts Receivable | 6850 | |||||||
Received Payments from Lee Services | ||||||||
May | 30 | Sales Salaries Expense | 5320 | |||||
Office Salaries Expense | 3150 | |||||||
Cash | 8470 | |||||||
Check 3417 Used to pay employees | ||||||||
May | 31 | Cash | 66052 | |||||
Sales | 66052 | |||||||
Sold Merchandise for cash last half | ||||||||
May | 31 | Cost of Goods Sold | 42500 | |||||
Merchandise Inventory | 42500 | |||||||
record cost of goods last half | ||||||||
May | 31 | Insurance Expense | 553 | |||||
Prepaid Insurance | 553 | |||||||
Insurance Adjustment | ||||||||
May | 31 | Store Supplies Expense | 2632 | |||||
Store Supplies | 2632 | |||||||
Store Supplies Adjustment | ||||||||
May | 31 | Office Supplies Expense | 504 | |||||
Office Supplies | 504 | |||||||
Office Supplies Adjustment | ||||||||
May | 31 | Depreciation Expense- Store Equipment | 567 | |||||
Accumulated Depreciation-Store Equipment | 567 | |||||||
Adjustmentfor Depreciation on Store Equipment | ||||||||
May | 31 | Depreciation Expense- Office Equipment | 329 | |||||
Accumulated Depreciation-Office Equipment | 329 | |||||||
Adjustment for Depreciation on Office Equipmen |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started