Question
Saved Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company
Saved Required information [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Account Title Cash Debits 20,000 Credits Accounts receivable. 35,000 Prepaid rent 5,000 Inventory 50,000 Equipment 100,000 Accumulated depreciation. Accounts payable 30,000 25,000 Salaries payable 0 Common stock Retained earnings Sales revenue 100,000 29,000 323,000 Cost of goods soldi 180,000. Salaries expense 71,000 Rent expense 30,000 Depreciation expense 0 Utilities expense 12,000 Advertising expense 4,000 Totals 507,000 50,00 The following year-end adjusting entries are required: a. Depreciation expense for the year on the equipment is $10,000. b. Salaries at year-end should be accrued in the amount of $4,000. Help
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