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The unadjusted trial balance for Tiger Electronics Company at March 31, 2024, follows: TIGER ELECTRONICS COMPANY Unadjusted Trial Balance March 31, 2024 Balance Account
The unadjusted trial balance for Tiger Electronics Company at March 31, 2024, follows: TIGER ELECTRONICS COMPANY Unadjusted Trial Balance March 31, 2024 Balance Account Title Cash Accounts Receivable Office Supplies Debit Credit $ 15,000 38,700 Merchandise Inventory 46,250 5,700 Equipment Accumulated Depreciation-Equipment Accounts Payable 129,500 $ 36,500 15,900 Unearned Revenue 13,500 Notes Payable, long-term 43,000 Common Stock 30,000 Retained Earnings 13,050 Dividends 23,000 Sales Revenue 305,750 Sales Discounts Forfeited 250 Cost of Goods Sold 141,000 Salaries Expense (Selling) 28,000 Rent Expense (Selling) 15,200 Salaries Expense (Administrative) 5,600 Utilities Expense (Administrative) Total 10,000 $ 457,950 $457,950 1. Journalize the adjusting entries using the following data: a. Interest revenue accrued, $500. b. Salaries (Selling) accrued, $2,400. c. Depreciation Expense- Equipment (Administrative), $1,295. d. Interest expense accrued, $1,800. e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $46,000. f. Tiger estimates that approximately $4,500 of merchandise sold will be returned with a cost of $1,800. 2. Prepare Tiger Electronics' adjusted trial balance as of March 31, 2024. 3. Prepare Tiger Electronics' multi-step income statement for year ended March 31, 2024.
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