Trial balance adjustments adjusted trial balance income statement balance sheet

Cash		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Accounts Receivable		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Notes Receivable		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Inventory		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Supplies		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Prepaid Insurance		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Equipment		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Accum. DepreciationEquipment		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Notes Payable		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Accounts Payable		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Owners Capital		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Owners Drawings		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Sales Revenue		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Sales Returns and Allowances		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Sales Discounts		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Cost of Goods Sold		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Salaries and Wages Expense		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Rent Expense		enter a debit balance		enter a credit balance		enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Totals		enter a total for the debit column		enter a total for the credit column
Interest Payable						enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Supplies Expense						enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Insurance Expense						enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Depreciation Expense						enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Interest Expense						enter a debit amount		enter a credit amount		enter an adjusted debit balance		enter an adjusted credit balance		enter a debit amount		enter a credit amount		enter a debit balance		enter a credit balance
Totals						enter a total for the debit column		enter a total for the credit column		enter a total for the debit column		enter a total for the credit column		enter a total for the debit column		enter a total for the credit column		enter a total for the debit column		enter a total for the credit column
Net Income														enter a total net income or loss amount		enter a total net income or loss amount		enter a total net income or loss amount		enter a total net income or loss amount
Totals

Crane Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledgers for Crane are indicated in the working papers presented below. Also following are a series of transactions for Crane Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. Account Number 101 112 115 120 126 130 157 158 201 301 Cash GENERAL LEDGER Account Title Accounts Receivable Notes Receivable Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Owner's Capital January 1 Opening Balance $33,250 12,400 40,000 16,500 1,300 2,500 8,250 1,600 33,500 79,100 Schedule of Accounts Receivable (from accounts Customer R. Beltre B. Santos S. Mahay Customer S. Meek Schedule of Accounts Payable (from accounts payable subsidiary ledger) R. Moses receivable subsidiary ledger) D. Saito January 1 Opening Balance $1,400 7,700 3,300 January 1 Opening Balance $8,500 14,000 11,000 Jan. 3 Sell merchandise on account to B. Corpas $3,900, invoice no. 510, and to J. Revere $1,700, invoice no. 511. 5 7 8 9 9 10 11 12 13 15 15 16 Purchase merchandise from S. Gamel $6,000 and D. Posey $2,600, terms n/30. Receive checks from S. Mahay $3,300 and B. Santos $2,000 after discount period has lapsed. Pay freight on merchandise purchased $225. Send checks to S. Meek for $8,500 less 2% cash discount, and to D. Saito for $11,000 less 1% cash discount. Issue credit of $300 to J. Revere for merchandise returned. Daily cash sales from January 1 to January 10 total $18,000. Make one journal entry for these sales. Sell merchandise on account to R. Beltre $1,600, invoice no. 512, and to S. Mahay $900, invoice no. 513. Pay rent of $1,400 for January. Receive payment in full from B. Corpas and J. Revere less cash discounts. Withdraw $800 cash by M. Crane for personal use. Post all entries to the subsidiary ledgers. Purchase merchandise from D. Saito $15,000, terms 1/10, n/30; S. Meek $14,200, terms 2/10, n/30; and S. Gamel $2,000, terms n/30. 17 18 20 21 21 22 22 23 25 27 27 28 31 31 Pay $500 cash for office supplies. Return $300 of merchandise to S. Meek and receive credit. Daily cash sales from January 11 to January 20 total $22,600. Make one journal entry for these sales. Issue $14,000 note, maturing in 90 days, to R. Moses in payment of balance due. Receive payment in full from S. Mahay less cash discount. Sell merchandise on account to B. Corpas $2,500, invoice no. 514, and to R. Beltre $2,300, invoice no. 515. Post all entries to the subsidiary ledgers. Send checks to D. Saito and S. Meek for full payment less cash discounts. Sell merchandise on account to B. Santos $3,800, invoice no. 516, and to J. Revere $6,600, invoice no. 517. Purchase merchandise from D. Saito $14,000, terms 1/10, n/30; D. Posey $3,200, terms n/30; and S. Gamel $5,700, terms n/30. Post all entries to the subsidiary ledgers. Pay $200 cash for office supplies. Daily cash sales from January 21 to January 31 total $23,700. Make one journal entry for these sales. Pay sales salaries $4,200 and office salaries $3,600. ales Journal Date Jan. 3 Jan. 3 Jan. 11 Jan. 11 Jan. 22 Jan. 22 Jan. 25 Jan. 25 Account Debited B. Corpas J. Revere R. Beltre S. Mahay B. Corpas R. Beltre B. Santos J. Revere Invoice No. 510 511 512 513 514 515 516 517 V v Ref. V Account Receivable Dr. Sales Revenue Cr. 3900 1700 1600 900 2500 2300 3800 6600 23300 S1 Cost of Good Sold Dr. Inventory Cr. 2340 1020 960 540 1500 1380 2280 3960 13980 Purchases Journal Date Jan. 5 Jan. 5 Jan. 16 Jan. 16 Jan. 16 Jan. 27 Jan. 27 Jan. 27 V Account Credited S. Gamel D. Posey D. Saito S. Meek S. Gamel D. Saito D. Posey S. Gamel v Terms n/30 n/30 1/10, n/30 2/10, n/30 n/30 1/10, n/30 n/30 n/30 Ref. P1 Inventory Dr. Accounts Payable Cr. 6000 2600 15000 14200 2000 14000 3200 5700 62700 Prepare a trial balance at January 31, 2022, in the trial balance columns of the worksheet. Complete the worksheet using the following additional information. 1. Office supplies at January 31 total $900. 2. 3. 4. Insurance coverage expires on October 31, 2022. Annual depreciation on the equipment is $1,200. Interest of $50 has accrued on the note payable