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this is all one problem. please help me solve it.. thankyou the first picture has all the information so sorry here it is GL0403 -
this is all one problem. please help me solve it.. thankyou
the first picture has all the information
so sorry here it is
GL0403 - Based on Problem 4-5A LO C2, P3 The fiscal year-end unadjusted trial balance for Walker Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Walker Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,050. b. Expired insurance, an administrative expense, for the fiscal year is $1,520. c. Depreciation expense on store equipment, a selling expense, is $6,500 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,870 of inventory is still available at fiscal year-end Requirement General General Trial Balance Multiple Step Ratios Journal Ledger Single Step Is Balance Sheet IS For transactions 1-4 prepare the required adjusting journal entries. For transactions 5-8, prepare the required closing entries. View transaction list Journal entry worksheet 2 3 5 6 7 8 > Journal entry worksheet Journal entry worksheet Rent expense and salaries expense are equally divided between selling activities and general and administrat Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow. a. Store supplies still available at fiscal year-end amount to $2,050. b. Expired insurance, an administrative expense, for the fiscal year is $1,520. c. Depreciation expense on store equipment, a selling expense, is $6,500 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $9,870 of inventory is fiscal year-end. es Ratios General General Requirement Multiple Step Single Step Is Balance Sheet Trial Balance Journal Ledger IS Compute the following ratios as of January 31, 2017. Round each ratio to 2 decimal places. Dates: Jan 31 Current ratio Acid-test ratio Gross margin ratio to: Jan 31 Walker Company Trial Balance January 31, 2017 Account Title Debit Credit $ 2 10.750 10,500 6,150 2,400 65,000 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation - Store equip. Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Salaries expense Rent expense Advertising expense Total 29,250 11,200 6,200 28,800 4,300 118.000 3,500 3,700 35,000 30,000 12,000 10,150 193,450 $ $ 193,450 General Ledger Multiple Step IS Step by Step Solution
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