PLEASE PREPARE ADJUSTED TRIAL BALANCE USING THIS INFORMATION

Other Information:

Cash balance on April 30 should be $212,714.01.

Month End adjustments:

• Make sure ending balances of accounts receivable schedule and accounts payable schedule matches the control account in the general ledger.
• Prepare a trial balance at April 30. (There is a worksheet that you can use.)
• Make adjusting journal entries:
  • Merchandise inventory per physical count = $319,177.50
  • Office supplies on hand = $1,600.
  • Store supplies on hand = $3,330.
  • Prepaid insurance at Apr 30 = $6,160.
  • Depreciation for the month = equipment, $1,250; Building, $2,475.
  • Interest earned on note receivable = $30
  • Accrued Salaries at Apr 30 = Sales Salaries, $1,200; Office Salaries, $500.
  • Unearned Rent = $5,270.
  • Refunds Payable is estimated to be $2,000. (Use Sales for offset account)
  • Estimated Returns Inventory should be $1,500. (Use COGS for offset account)

30-Apr Adjusting Entries Credit Adj TB Credit Credit Debit Debit $ Trial Balance Debit 202,715.21 6,800.00 35,061.25 319,318.52 1,500.00 2,100.00 3,980.00 6,720.00 210,000.00 539,000.00 340,200.00 98,350.00 64,540.00 125,615.00 Account Cash Notes Receivable Account receivable Interest receivable Merch Inv Estimated Returns Inventory Office Supplies Store Supplies Prepaid Insurance Land Building Accl Depr - Bldg Equipment Accl Depr - Equip Accounts Payable Salaries Payable Refunds Payable Unearned Rent Notes Payable Jordi, Capital Jordi, Draw Sales Sales Discounts Forfeited COGS Sales Salaries Exp Advertising Exp Store Supplies Exp Misc Selling Exp Office Salaries Exp Depr Exp - Equip Insurance Exp Office Supplies Exp Depr Exp - Bldg Misc Admin Exp Rent Revenue Interest Revenue Interest Expense 2,000.00 6,300.00 168,000.00 671,850.00 6,700.00 237,164.06 153,578.08 16,000.00 626.00 1,389.00 10,000.00 1,191.00 60.00 700.00 $ 1,615,729.06 $ 1,615,729.06 30-Apr Adjusting Entries Credit Adj TB Credit Credit Debit Debit $ Trial Balance Debit 202,715.21 6,800.00 35,061.25 319,318.52 1,500.00 2,100.00 3,980.00 6,720.00 210,000.00 539,000.00 340,200.00 98,350.00 64,540.00 125,615.00 Account Cash Notes Receivable Account receivable Interest receivable Merch Inv Estimated Returns Inventory Office Supplies Store Supplies Prepaid Insurance Land Building Accl Depr - Bldg Equipment Accl Depr - Equip Accounts Payable Salaries Payable Refunds Payable Unearned Rent Notes Payable Jordi, Capital Jordi, Draw Sales Sales Discounts Forfeited COGS Sales Salaries Exp Advertising Exp Store Supplies Exp Misc Selling Exp Office Salaries Exp Depr Exp - Equip Insurance Exp Office Supplies Exp Depr Exp - Bldg Misc Admin Exp Rent Revenue Interest Revenue Interest Expense 2,000.00 6,300.00 168,000.00 671,850.00 6,700.00 237,164.06 153,578.08 16,000.00 626.00 1,389.00 10,000.00 1,191.00 60.00 700.00 $ 1,615,729.06 $ 1,615,729.06