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PLEASE HELP ME SOLVE THESE INVENTORY: MERCHANDISING TRANSACTIONS SCREENSHOT 136-137 SCREENSHOT 138-140 The following is Glueman Industries' adjusted trial balance in account order for the

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PLEASE HELP ME SOLVE THESE INVENTORY: MERCHANDISING TRANSACTIONS

  1. SCREENSHOT 136-137
  2. SCREENSHOT 138-140

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
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 Cast $3,070 Accounts Receivable $2,770 Merchandise Inventory $19,360 Prepaid Rent $8,410 Equipment $43,310 Accumulated Depreciation $660 Accounts Payable $2,870 Unearned Revenue $1,840 Salaries Payable $2,390 Kiefer, Capita $66,130 Sales Revenue $78,840 Sales Discounts $1,110 Sales Returns and Allowances $420 Cost of Goods Sold $39,420 Depreciation Expense $1,320 Rent Expense $9,530 Salaries Expense $15,690 Utilities Expense $8,320 Total $152,730 | $152,730 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 30Salaries Payable $2,390 Kiefer, Capital $66,130 Sales Revenue $78.840 Sales Discounts $1,110 Sales Returns and Allowances $420 Cost of Goods Sold $39,420 Depreciation Expense $1,320 Rent Expense $9,530 Salaries Expense $15,690 Utilities Expense $8,320 Total $152,730|$152,730 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 Close expense accounts Apr 30 Close income summary accountWorld 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 March 31, 2019. Cost of Goods Sold $63,500 Depreciation Expense - Store Equipment $5,540 Gain on Sale of Equipment $4,700 Insurance Expense $10,100 Interest Expense $770 Office Salaries Expense $38,400 Office Supplies Expense $3,200 Sales Discounts $2,400 Sales Returns and Allowances $5,200 Sales Revenue $183,500 Sales Salaries Expense $36,700 Utilities Expense - Office $2,300 Utilities Expense - Retail $5,300 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. World Jim Income Statement For the Year Ended March 31, 2019 Sales Revenue Less: Subtotal Net Sales Gross Profit Operating Expenses Selling ExpensesDo not use negative signs. World Jim Income Statement For the Year Ended March 31, 2019 Sales Revenue Less: Subtotal Net Sales Gross Profit Operating Expenses Selling Expense Total Selling Expenses Administrative Expenses Total Administrative Expenses Total Operating Expenses Income from Operations Other Income and ExpensesSales Revenue in Less: in Subtotal Net Sales Gross Profit Operating Expenses Selling Expenses Total Selling Expenses Administrative Expenses Total Administrative Expenses otal Operating Expenses ncome from Operations Other Income and Expenses s Total Other Income and Expenses Net Income

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