Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Questions 21 (20 marks) Accounts and their balances from the adjusted trial balance of Pickles Store for the year ended December 31, 2020 are

image text in transcribedimage text in transcribed

Questions 21 (20 marks) Accounts and their balances from the adjusted trial balance of Pickles Store for the year ended December 31, 2020 are below. Pickles Store Trial Balance For the year ended December 31, 2020 Account Debit Credit Accounts Payable $4,000 Accounts receivable $85,00 Accumulated amortization, 9,000 equipment Amortization expense, equipment 4,500 Sales Discounts 400 Cash 1,200 Cost of goods sold 76,000 Equipment 75,110 I Insurance expense 350 Interest expense 140 Pickles, capital 32,500 Pickles, withdrawals 1,200 Inventory 2,100 Notes payable 3,000 Rent expense 660 1,200 Rent revenue Salaries expense 2,700 Sales 125,000 Sales returns and allowances 1,400 Supplies 350

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds

8th edition

978-1259569197

More Books

Students also viewed these Accounting questions

Question

=+a) What are the factors they are testing?

Answered: 1 week ago

Question

Which characteristics make you successful?

Answered: 1 week ago

Question

Do you prefer to work with others in a team or alone?

Answered: 1 week ago