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thanks so much! Preparation of Adjustments on a Spreadsheet for a Merchandising Business: Periodic Method The trial balance for the Venice Beach Kite Shop, a
thanks so much!
Preparation of Adjustments on a Spreadsheet for a Merchandising Business: Periodic Method The trial balance for the Venice Beach Kite Shop, a business owned by Molly Young is shown in the End-of-Period Spreadsheet. Year-end adjustment information: (a,b) A physical count shows that merchandise inventory costing $85,000 is on hand as of December 31, 20--, (c,d,e) Young estimates that customers will be granted $5,800 in refunds of this year's sales next year and the merchandise expected to be returned will have a cost of $4,300. Supplies remaining at the end of the year, $3,300. (0) Unexpired insurance on December 31, $3,800. Depreciation expense on the building for 20-., $12,000. Depreciation expense on the store equipment for 20--, $7,500. (1) Unearned rent revenue as of December 31, $4,400. Wages earned but not paid as of December 31, $3,400.Step by Step Solution
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