On January 5, 2019, Food-N-Stuff Wholesalers purchased $2,940 worth of dried fruit inventory plus $370 for freight charges on account On January 20, Food-N-Stuff Wholesalers sold all of the dried fruit inventory to Retail Grocers for $4,470 on account. As the bookkeeper for Food-N-Stuff Wholesalers, journalize the transactions using the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. For the sale of inventory transactions, enter the revenue transaction first. Required Prepare the journal entries for Food-N-Stuff Wholesalers on January 5 and 20 respectively. Record the sales transaction before the cost transaction. Date Account Title and Explanation Debit Credit 2019 Jan 5 Purchased inventory on account Jan 20 Made sales on account Jan 20 Record the cost of goods sold Engli Date Account Title and Explanation Debit Credit 2019 Sep 17 Record sales returns Sep 17 Restock inventory Suppose that Ben's shipped back half of the goods on September 17 and kept the other half with a 5% allowance. Journalize the transactions. Record the sales return transaction first. Date Account Title and Explanation Debit Credit 2019 Sep 17 Record sales returns Sep 17 Restock inventory Glent Company prepared the following adjusted trial balance at its year-end of November 30, 2019. The company is owned by Judas Glent. Englis Glent Company Trial Balance November 30, 2019 Account Titles DR CR Cash $14,600 Accounts Receivable $5,700 Merchandise Inventory $6,200 Prepaid Expenses $2,200 Store Equipment $40,400 Accumulated Depreciation Equipment $2,800 Accounts Payable $6,100 Unearned Revenue $5,600 Bank Loan $18,000 Glent, Capital $33,310 Glent, Withdrawals $1,500 Sales Revenue $53,490 Gain on Sale of Equipment $4.900 Cost of Goods Sold $19,100 Advertising Expense $1,600 Depreciation Expense-Equipment $2,800 Interest Expense $800 Office Salaries Expense $4,500 Rent Expense Retail Space 510,300 Rent Expense-Office Space $5,600 Sales Salaries Expense 58.900 Total $124.200/8124.2001 Type here to search o - AME Engage Total $124,200 $124,200 Notes: Assume the balance of owner's equity is the opening balance. The bank loan is payable over 9 years in equal annual installments. Required a) Prepare a multi-step income statement Do not enter dollar signs or commas in the input boxes. Enter the accounts into the appropriate statements in the order they are presented on the trial balance. Do not use negative signs, Glent Company Income Statement For the Year Ended November 30, 2019 Sales Revenue Cost of Goods Sold $ Gross Profit $ Operating Expenses Selling Expenses $ $ S Total Selling Expenses Administrative Expenses Total Selling Expenses Administrative Expenses $ $ Total Administrative Expenses Total Operating Expenses $ Income from Operations Other Income and Expenses $ Net Income b) Prepare a statement of owner's equity Glent Company Statement of Owner's Equity For the Year Ended November 30, 2019 Glent Capital (Beginning) Add: Net Income Less: Glent, Withdrawals $ Subtotal Glent, Capital, November 30, 2019 C) Prepare a classified balance sheet. Glent Company Balance Sheet As at November 30, 2019 Assets Current Assets $ IS $ $ Total Current Assets Property, Plant, and Equipment $ Total Property, Plant, and Equipment DCDMI NOTCO The following is Glueman Industries' adjusted trial balance in account order for the year ended April 30, 2019. Glueman Adjusted Trial Balance April 30, 2019 Account Titles DR CR Cash $3,140 Accounts Receivable $2,600 Merchandise Inventory $19,090 Prepaid Rent $8,980 Equipment $43,360 Accumulated Depreciation $1,000 Accounts Payable $2,790 Unearned Revenue $1,720 Salaries Payable $2,450 Kiefer, Capital $67,630 Sales Revenue $79,720 Sales Discounts $1,830 Sales Returns and Allowances $660 Cost of Goods Sold $39,860 Depreciation Expense $2,000 Rent Expense $9.920 $15,560 O REDMI NOTE 8 AI QUAD CAMERA $8,310 Total $ 155,310 $ 155,310 Do not enter dollar signs or commas in the input boxes. When closing accounts, use the income summary method. To close the expense accounts, enter them in the order presented on the trial balance. Prepare the journal entries to close the appropriate accounts. Date Account Title and Explanation Debit Credit 2019 Apr 30 Close revenue accounts Apr 30 N REDMI NOTE &nse accounts AI QUAD CAMERA Apr 30 English World Jim operates several retail stores that specialize in products for a healthy lifestyle. Some of its financial information is shown below for its fiscal year ended July 31, 2019. Cost of Goods Sold $73,900 Depreciation Expense - Store Equipment $5,730 Gain on Sale of Equipment $4,450 Insurance Expense $10,200 Interest Expense $740 Office Salaries Expense $37,700 Office Supplies Expense $3,100 Sales Discounts $2,300 Sales Returns and Allowances $5,400 Sales Revenue $193,900 Sales Salaries Expense $32,100 Utilities Expense - Office $3,200 Utilities Expense Retail $7,500 Required Create a multi-step income statement Do not enter dollar signs or commas in the input boxes. Enter all accounts under the appropriate section in alphabetical order. Do not use negative signs. IN