Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric Bike on December 31, 2023. Debit $ 8,700 23,265 35,200 2,715 835 3,855 81,090 Cash Accounts receivable Merchandise inventory Store supplies Office supplies Prepaid insurance Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Braeden Li, capital Braeden Li, withdrawals Interest income Sales Sales returns and allowances Cost of goods sold Salaries expense Rent expense Supplies expense Depreciation expense, equipment Insurance expense Totals 65,000 5,670 381,760 96,900 29,700 0 0 0 Credit $ 14,255 8,600 0 179,465 Required: 1. Record adjusting entries for the following information. 370 532,000 $734,690 $734,690 a. The records show that the equipment was estimated to have a total estimated useful life of 10 years with a residual value at the end of its life of $15,090. b. The balance in the Prepaid Insurance account was reviewed and it was determined that $285 was unused at December 31, 2023. c. A review of the store supplies on December 31, 2023, revealed a balance on hand of $2,180; a similar examination of the office supplies showed that $670 had been used. d. Accrued salaries payable, $2,100. e. A count of the merchandise inventory revealed a balance on hand December 31, 2023, of $34,340. Help Save

Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric Bike on December 31, 2023. Required: 1. Record adjusting entries for the following information. a. The records show that the equipment was estimated to have a total estimated useful life of 10 years with a residual value at the end of its life of $15,090. b. The balance in the Prepaid Insurance account was reviewed and it was determined that $285 was unused at December 31,2023. c. A review of the store supplies on December 31,2023 , revealed a balance on hand of $2,180; a similar examination of the office supplies showed that $670 had been used. d. Accrued salaries payable, $2,100. e. A count of the merchandise inventory revealed a balance on hand December 31,2023 , of $34,340