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Just parts J and K Cash There are 4 parts to this case. The FUN Toys Company is a publicly traded retailing company that sells
Just parts J and K
Cash There are 4 parts to this case. The FUN Toys Company is a publicly traded retailing company that sells videos games and small toys for children ages 2 to 10 years. The fiscal year for the company begins on January 1st and ends on December 31st The company closes the books at the end of each quarter. Below is a trial balance that was generated by the accounting department before any adjusting journal entries were made. FUN Toys Company Trial Balance At December 31, 2017 Unadjusted Trial Balance Debit Credit $ 260,000 Accounts Receivable $ 17,000 Prepaid Advertising $ 25,000 Prepaid Insurance $ 16.500 Inventory $ 280,000 Notes Receivable $ 40,000 Supplies $ 7,500 Equipment $ 250,000 Accumulated Depreciation $ 75,000 Building | $ 370,000 Accounts Payable $ 125,000 Unearned Revenue $ 40,000 Notes Payable (short-term) $ 40,000 Notes Payable (long-term) $ 200,000 Interest Payable $ 16.788 Contributed Capital $ 300,000 Retained Earings $ 327,000 Revenue $ 655,700 COGS $ 225,000 Utilities Expense $ 28.000 Advertising Expense $ 50,000 Insurance expense $ 29,700 Depreciation Expense $ 44,000 Interest Expense $ 16.788 Wage Expense $ 120,000 $ 1.779,488 $ 1.779.488 * English (United States) IT Focus EEEStep by Step Solution
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