Please do 5-10 in excel

259 Chapter 5 Accounting for Merchandising Businesses Instructions the perie Journalize the entries to record the transactions of Babcock Company for Novel iodic inventory system. Appendix PR 5-9A Sales-related and purchase-related transactions for buyer and seller using are listed periodic inventory system Selected transactions during August between Summit Company and Beartooth Co. in Problem 5-4A. and (2) Beartooth Journalize the entries to record the transactions for a Summit Company Co., assuming that both companies use the periodic inventory system. Appendix PRS10A Periodic inventory accounts, multiple-step income statement, closing entries On December 31, 2014, the balances of the accounts appearing in the ledger Company are as follows: of Wyman Cash 29000 2,650000 $ 13,500 Sales Returns and Allowances 72,000 Sales Discounts Accounts Receivable Merchandise inventory, January 1, 2014 Office Supplies Prepaid insurance Purchases 257,000 Purchases Returns and Allowances 3,000 Purchases Discounts 37000 0 Freight 45,000 9,000 Store Equipment Accumulated depreciation Store Equipment Office Equipment Accumulated Depreciation Office Equipment Accounts Payable Salaries Payable Unearned Rent Notes payable Capital Stock Retained Earnings 150,000 Sales Salaries Expense 270,000 Advertising Expense Delivery expense 55,900 Depreciation Expense Store Equipment 12,000 78500 Miscellaneous Selling Expense 16,000 Office Salaries Expense 27,800 Rent Expense 3,000 Insurance Expense 8300 Office Supplies Expense 50,000 Depreciation Expense Office Equipment 3500 150,000 Miscellaneous Administrative Expense 430500 25,000 Rent Revenue 3,355,000 Interest Expense 000 175,000 28,000 3000 2,000 1,500 7,000 2,000 Dividends Instructions 1. Does Wyman Company use a periodic or perpetual inventory system? Explain. step income for for the year ended De Prepare a multiple-statement Wyman Company cember 31, 2014. The merchandise inventory as of December 31, 2014, was $305,000 system been ? 3. Prepare the closing entries for Wyman Company as of December 31, 2014. What would be the net income if the perpetual inventory had used roblems Series B