PALISADE CREEK CO. MAY 31, 2018
need help on Part 8,9 and 10.
which are the images that are blank (blue and green grids)
Part 8: Income statment, Retained earnings Statment, and Blance sheet
part 10:Post-closing trial balance
above i have completed the end of period spreadsheet and Adjusted Balance...
End-of-Period Spreadsheet Work Sheet) For the Year Ended May 31, 2018 Adjustments Debit Credit Adjusted Trial Balance Credit Income Statement Debit Credit Account Title Debit Credit Unadjusted Trial Balance Debit Credit 84,500 245,875 84,500 84,500 245,875 Accounts Receivable $70,000 15,200 50,200 Inventory Prepaid Insurance Store Supplies 16,800 13.800 9,800 Adom. Dep.Store Bip 14,000 70,700 02.150 13,000 Customer Refunds S H 89,270 Common Stock 100,000 Retained Earnings Dividends Cost of Good Sold 13.00 7,000 Sale Salaries Expense 720,800 292,000 Advertising Expense 14.000 0.800 90 9.800 12.600 6,600 417,700 12,000 2,800 6,210,625 6 ,210,635 158,350 150,350 6,238,325 6,238,225 4.574,350 5,316,205 1,320,075X 33,020 741,835 Part 7: You must complete parts 1, 2, 3, 4 and 6 before completing part 7. Part 5 is the optional work sheet. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Adjusted Trial Balance May 31, 2018 Debit Credit Cash 84,500 Accounts Receivable 245,875 Inventory 570,000 Estimated Returns Inventory 50,200 Prepaid Insurance 4,800 Store Supplies 4,000 Store Equipment 569,500 Accumulated Depreciation Store Equipment 70,700 Accounts Payable 63,150 Salaries Payable 13,600 Customers Refunds Payable 89,270 Common Stock 100,000 Retained Earnings 585,300 Dividends 135,000 Sales 5,316, 205 Cost of Goods Sold Sales Salaries Expense 2,991,950 727,800 292,000 Advertising Expense Depreciation Expense 14,000 Store Supplies Expense 9,800 Miscellaneous Selling Expense 12,600 Office Salaries Expense 417,700 Rent Expense 88,700 Insurance Expense 12,000 Miscellaneous Administrative Expense 7,800 6,238,225 6,238,225 Retained Earnings Statement For the Year Ended May 31, 2018 3. Prepare a balance sheet Palisade Creek Co. Balance Sheet May 31, 2018 Assets Current assets: Total current assets Property, plant and equipment: Total property, plant and equipment Total acts Liebe Current ies Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and Stockholders' Equity Comprehensive Problem 2 Part 9 You must complete parts, 2, 3, 4, 5, 7 and before attempting to complete part 3 Part 5 option Journalize the closing entries. The post the joumal to the general ledger you created in part 1. Indicate closed accounts by inserting a ne in both the If an amount box does not Date 2018 in an entry wave bank Description Post, Rel. Debit Credit Income Summary Calculator Comprehensive Problem 2 Part 10: You must complete parts 1, 2, 3, 4, 6, 7, 8 and 9 before attempting to complete part 10. Part 5 is Prepare a post-closing trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Post-Closing Trial Balance May 31, 2018 Debit Credit Cash 84,500 Accounts Receivable 245,875 Inventory 570,000 Estimated Returns Inventory 50,200 Prepaid Insurance 4,800 Store Supplies 4,000 569,500 Store Equipment Accumulated Depreciation-Store Equipment Accounts Payable 70,700 63,150 Salaries Payable 13,600 Customers Refunds Payable 89,270 Common Stock 100,000 Retained Earnings 1,192,155 1,528,875 1,528,875
