Need help filling out balance sheet with adjustments, can't seem to get it balanced
Accounting Cycle Project FA22 Roadrunner Bookstore uses the perpetual inventory system. Roadrunner Bookstore is owned by Tina Smith. The company had the following transactions for the month of April. Apr 1 Tina Smith invested $60,000 cash and a machine worth $20,000 in Roadrunner Bookstore. Apr 2 Roadrunner Bookstore rented a portion of their warehouse to Davis Consulting for $3,000 per month. Davis paid Roadrunner Bookstore five months of rent in advance. Apr 3 Purchased $60,000 of merchandise inventory on credit, Invoice \#123 dated Apr 2 from Cengage, terms 1/20, n/45. Apr 5 Sold merchandise to Rowan University for $45,000 on credit, terms 3/10,n/30. Invoice no. 345 . Cost of the merchandise sold is $30,000. Apr 7 Issued check \#210 payable to Cash to establish a petty cash fund in the amount of $300. Apr 9 Purchased additional machinery totaling $5,000 on credit from Great Buy, terms 1/10,n/45, Invoice \#467 dated Apr 9. Apr 11 Sold merchandise to Rutgers University for $10,000 with terms 2/10, n/45. Invoice no. 346 . Cost of the merchandise sold is $5,000. Apr 13 The cash register's record shows $10,000 at the end of the shift, but the count of cash in the register is $10,025. Cost of the merchandise sold is $8,500. Prepare the journal entry to record the day's cash sales. Apr 15 Rowan University paid the balance due from the sale on Apr 5. Apr 17 Sold merchandise to Rowan University for $16,000, terms 3/10,n/30. Invoice No. 347. Cost of the merchandise sold is $11,000. Apr 18 Roadrunner Bookstore signed a short-term note payable in the amount of $55,000 with an interest rate of 7% due in 180 days. Apr 21 Issued check \#211 to Cengage for the purchase recorded on Apr 3rd. Apr 23 Issued check \#212 made payable to you, the company accountant, for your salary totaling $4,500. Apr 24 The cash balance in the petty cash drawer is $75. Receipts in the drawer show $80 for Postage Expense, $75 for Transportation In, $50 for delivery expenses, and $25 for office supplies expenses. Replenish petty cash using check \#213 made payable to Cash. Apr 25 Received $4,000 payment from Rutgers University towards the Apr 11 sale. Apr 27 Issued check \#214 made payable to Tina Smith for $10,000 for personal use. Apr 29 Issued check \#215 for $5,000 payable to Hartford Property Management for April Rent. Roadrunner Bookstore uses the following Special Journals: Sales, Purchases, Cash Receipts, and Cash Disbursements. 1.) Record the above transactions to the appropriate Journal and post as necessary to the Subsidiary Ledgers and General Ledger Accounts. Make sure to foot and cross foot totals at month-end. 2.) Complete the unadjusted trial balance columns on the worksheet for Roadrunner Bookstore as of April 30, 2022, and the Schedules of Accounts Receivable and Accounts Payable. Roadrunner Bookstore must consider the following for adjusting entry purposes: a) Depreciation on the Machine for the month totaled $200. b) April rent from Davis Consulting has been earned. c) A utility bill was received totaling $750 that will be paid in May. d) Interest on the short-term note through Apr 30th has accrued but has not been paid. (Round to a whole number) e) Salaries have accrued in the amount of $500 per day for three days. f) A count of inventory showed remaining inventory had a cost of $4,000. g) Bad debt is estimated to be .7% of total net credit sales. (Round to a whole number)
