unadjusted trial balance/company book data
\begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Prepaid Advertising } & \multicolumn{2}{|c|}{ Account No. 130} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & & & & & 21,000 \\ \hline \multicolumn{4}{|c|}{ Office Furniture } & \multicolumn{2}{|c|}{ Account No. 157} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 10/Apr & Purchased furniture on credit.... & GJ1 & \multirow[t]{2}{*}{14,000} & \multirow[b]{2}{*}{2,800} & 14,000 \\ \hline 12/Apr & Received a credit memorandum... & GJ1 & & & 11,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Store Equipment } & \multicolumn{2}{|c|}{ Account No. 165} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 61,200 \\ \hline 2/Apr & Sold all store equipment for cash... & GJ1 & & 61,200 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accumulated Depreciation, Store Equipment } & \multicolumn{2}{|c|}{ Account No. 166} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 35,610 \\ \hline 2/Apr & Sold all store equipment for cash... & GJ1 & 35,610 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Payable } & \multicolumn{2}{|c|}{ Account No. 201} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 529,500 \\ \hline 6/Apr & Northstar Corp. : Purchased merchandise... & GJ1 & & 640,000 & 1,169,500 \\ \hline 9/Apr & Velor Inc. : Issued cheque for purchase....... & GJ1 & 529,500 & & 640,000 \\ \hline 10/Apr & Dylex Corporation : Purchased furniture on credit... & GJ1 & & 14,000 & 654,000 \\ \hline 12/Apr & Dylex Corporation : Received a credit memorandum.... & GJ1 & 2,800 & & 651,200 \\ \hline 18/Apr & Northstar Corp. : Paid invoice for merchandise.... & GJ2 & 640,000 & & 11,200 \\ \hline 18/Apr & Velor Inc. : Purchased merchandise on credit.. & GJ2 & & 640,000 & 651,200 \\ \hline 19/Apr & Dylex Corporation : Paid invoice for office furniture..... & GJ2 & 11,200 & & 640,000 \\ \hline 25/Apr & & GJ2 & 640,000 & & 0 \\ \hline 27/Apr & Courtland Corp. : Purchased merchandise inventory on credit. & GJ2 & & 360,450 & 360,450 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Utilities Payable } & \multicolumn{2}{|c|}{ Account No. 212} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 26,000 \\ \hline 28/Apr & Paid utility bill.... & GJ2 & 26,000 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Common Shares } & \multicolumn{2}{|c|}{ Account No. 307} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 71,500 \\ \hline 19/Apr & Issued shares......... & GJ2 & & 28,000 & 99,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Retained Earnings } & \multicolumn{2}{|c|}{ Account No. 318} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance. & & & & 2,321,501 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash Dividends Declared } & \multicolumn{2}{|c|}{ Account No. 319} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 23/Apr & Declared and paid dividends............................. & GJ2 & 37,400 & & 37,400 \\ \hline \end{tabular} \begin{tabular}{|c|cc|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Interest Earned } & \multicolumn{4}{c|}{ Account No. 409 } \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Collection of interest & & 202.50 & 202.50 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales } & \multicolumn{2}{|c|}{ Account No. 413} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 5/Apr & Sold merchandise on credit & GJ1 & & 370,600 & 370,600 \\ \hline 13/Apr & Sold merchandise on credit... & GJ1 & & 1,744,000 & 2,114,600 \\ \hline 20/Apr & Sold merchandise on credit. & GJ2 & & 915,600 & 3,030,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Discounts } & \multicolumn{3}{r|}{ Account No. 415 } \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 13/Apr & Received customer payment & GJ1 & 7,412 & & 7,412 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Discounts } & \multicolumn{2}{|c|}{ Account No. 415} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 13/Apr & Received customer payment. & GJ1 & 7,412 & & 7,412 \\ \hline 22/Apr & Received customer payment. & GJ2 & 34,880 & & 42,292 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cost Of Goods Sold } & \multicolumn{2}{|c|}{ Account No. 502} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 5/Apr & Sold merchandise on credit & GJ1 & 136,000 & & 136,000 \\ \hline 13/Apr & Sold merchandise on credit... & GJ1 & 640,000 & & 776,000 \\ \hline 20/Apr & Sold merchandise on credit... & GJ 2 & 336,000 & & 1,112,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Office Salaries Expense } & \multicolumn{2}{|c|}{ Account No. 620} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Paid cash for salaries. & GJ1 & 14,000 & & 14,000 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & 14,000 & & 28,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Salaries Expense } & \multicolumn{2}{|c|}{ Account No. 621} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Paid cash for salaries. & GJ1 & 39,000 & & 39,000 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & 39,000 & & 78,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent expense, office space } & \multicolumn{2}{|c|}{ Account No. 641} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 1/Apr & Paid cash for rent. & GJ1 & 3,360 & & 3,360 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent expense, selling space } & Account No. 642 \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 1/Apr & Paid cash for rent & & 2,240 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Gain on Sale of Property, Plant and Equipment Assets } & Account No. 7081 \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 2/Apr & Sold all store equipment for cash & & 260 & 260 \\ \hline \end{tabular} a) Prepare the unadjusted trial balance at April 30, 2024. b) What is the next step in the accounting cycle? Prepare financial statements Prepare a post-closing trial balance Post closing entries Prepare bank reconciliation and adjusting entries Post adjusting entries Prepare an adjusted trial balance Analyze and journalize transactions This is the last step Post transactions Prepare closing entries Benson Inc.'s April journal entries have been posted to the general ledger for you as shown below. This is similar to ho \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } & \multicolumn{2}{|c|}{ Account No. 101} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 1,232,280.50 \\ \hline 1/Apr & Paid cash for rent & GJ1 & & 5,600 & 1,226,680.50 \\ \hline 2/Apr & Sold all store equipment for cash.... & GJ1 & 25,850 & & 1,252,530.50 \\ \hline 9/Apr & Issued cheque for purchase & GJ1 & & 529,500 & 723,030.50 \\ \hline 13/Apr & Received customer payment.... & GJ1 & 363,188 & & 1,086,218.50 \\ \hline 15/Apr & Collection of interest & GJ1 & 3,590 & & 1,089,808.50 \\ \hline 15/Apr & Paid cash for salaries.... & GJ1 & & 53,000 & 1,036,808.50 \\ \hline 18/Apr & Paid invoice for merchandise.... & GJ2 & & 640,000 & 396,808.50 \\ \hline 19/Apr & Issued shares. & GJ2 & 28,000 & & 424,808.50 \\ \hline 19/Apr & Paid invoice for office furniture & GJ2 & & 11,200 & 413,608.50 \\ \hline 22/Apr & Received customer payment & GJ2 & 1,709,120 & & 2,122,728.50 \\ \hline 23/Apr & Declared and paid dividends...... & GJ2 & & 37,400 & 2,085,328.50 \\ \hline 25/Apr & Paid invoice for merchandise........ & GJ2 & & 627,200 & 1,458,128.50 \\ \hline 28/Apr & Paid utility bill... & GJ2 & & 26,000 & 1,432,128.50 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & & 53,000 & 1,379,128.50 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Receivable } & \multicolumn{2}{|c|}{ Account No. 106} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 176,700 \\ \hline 5/Apr & Zcom Inc. : Sold merchandise on credit... & GJ1 & 370,600 & & 547,300 \\ \hline 13/Apr & Zcom Inc : Received customer payment & GJ1 & & 370,600 & 176,700 \\ \hline 13/Apr & Zcom Inc. : Sold merchandise on credit & GJ1 & 1,744,000 & & 1,920,700 \\ \hline 20/Apr & X-cell Inc. : Sold merchandise on credit & GJ2 & 915,600 & & 2,836,300 \\ \hline 21/Apr & Barton Corporation : Wrote off uncollectible account. & GJ2 & & 176,700 & 2,659,600 \\ \hline 22/Apr & Zcom Inc. : Received customer payment... & GJ2 & & 1,744,000 & 915,600 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Allowance for Doubtful Accounts } & \multicolumn{2}{|c|}{ Account No. 107} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance. & & & & 28,272 \\ \hline 21/Apr & Wrote off uncollectible account & GJ 2 & 176,700 & & 148,428 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Interest Receivable } & \multicolumn{2}{|c|}{ Account No. 109} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 202.50 \\ \hline 15/Apr & Collection of interest. & GJ1 & & 202.50 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Notes Receivable } & \multicolumn{2}{|c|}{ Account No. 111} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 81,000 \\ \hline 15/Apr & Collection of interest.... & GJ1 & & 3,185 & 77,815 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Merchandise Inventory } & \multicolumn{2}{|c|}{ Account No. 119} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 1,440,000 \\ \hline 5/Apr & Sold merchandise on credit... & GJ1 & & 136,000 & 1,304,000 \\ \hline 6/Apr & Purchased merchandise ............. & GJ1 & 640,000 & & 1,944,000 \\ \hline 13/Apr & Sold merchandise on credit.... & GJ1 & & 640,000 & 1,304,000 \\ \hline 18/Apr & Purchased merchandise on credit... & GJ2 & 640,000 & & 1,944,000 \\ \hline 20/Apr & Sold merchandise on credit.... & GJ2 & & 336,000 & 1,608,000 \\ \hline 25/Apr & Paid invoice for merchandise... & GJ2 & & 12,800 & 1,595,200 \\ \hline 27/Apr & Purchased merchandise inventory on credit. & GJ 2 & 360,450 & & 1,955,650 \\ \hline \end{tabular} a) The following bank statement was received. Prepare a bank reconciliation for April: Additional Information: The NSF cheque was received in March from ABC Inc. for a sale dated March 15. - It is estimated that utilities used during April totalled $19,500. - Actual count of ending merchandise inventory on April 30, 2024 was $1,818,754. past due (60%). Since this is an estimate please round your final answer to the nearest whole dollar. - Income taxes are estimated to be $243,100. \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Prepaid Advertising } & \multicolumn{2}{|c|}{ Account No. 130} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & & & & & 21,000 \\ \hline \multicolumn{4}{|c|}{ Office Furniture } & \multicolumn{2}{|c|}{ Account No. 157} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 10/Apr & Purchased furniture on credit.... & GJ1 & \multirow[t]{2}{*}{14,000} & \multirow[b]{2}{*}{2,800} & 14,000 \\ \hline 12/Apr & Received a credit memorandum... & GJ1 & & & 11,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Store Equipment } & \multicolumn{2}{|c|}{ Account No. 165} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 61,200 \\ \hline 2/Apr & Sold all store equipment for cash... & GJ1 & & 61,200 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accumulated Depreciation, Store Equipment } & \multicolumn{2}{|c|}{ Account No. 166} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 35,610 \\ \hline 2/Apr & Sold all store equipment for cash... & GJ1 & 35,610 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Payable } & \multicolumn{2}{|c|}{ Account No. 201} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 529,500 \\ \hline 6/Apr & Northstar Corp. : Purchased merchandise... & GJ1 & & 640,000 & 1,169,500 \\ \hline 9/Apr & Velor Inc. : Issued cheque for purchase....... & GJ1 & 529,500 & & 640,000 \\ \hline 10/Apr & Dylex Corporation : Purchased furniture on credit... & GJ1 & & 14,000 & 654,000 \\ \hline 12/Apr & Dylex Corporation : Received a credit memorandum.... & GJ1 & 2,800 & & 651,200 \\ \hline 18/Apr & Northstar Corp. : Paid invoice for merchandise.... & GJ2 & 640,000 & & 11,200 \\ \hline 18/Apr & Velor Inc. : Purchased merchandise on credit.. & GJ2 & & 640,000 & 651,200 \\ \hline 19/Apr & Dylex Corporation : Paid invoice for office furniture..... & GJ2 & 11,200 & & 640,000 \\ \hline 25/Apr & & GJ2 & 640,000 & & 0 \\ \hline 27/Apr & Courtland Corp. : Purchased merchandise inventory on credit. & GJ2 & & 360,450 & 360,450 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Utilities Payable } & \multicolumn{2}{|c|}{ Account No. 212} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 26,000 \\ \hline 28/Apr & Paid utility bill.... & GJ2 & 26,000 & & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Common Shares } & \multicolumn{2}{|c|}{ Account No. 307} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 71,500 \\ \hline 19/Apr & Issued shares......... & GJ2 & & 28,000 & 99,500 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Retained Earnings } & \multicolumn{2}{|c|}{ Account No. 318} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance. & & & & 2,321,501 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash Dividends Declared } & \multicolumn{2}{|c|}{ Account No. 319} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 23/Apr & Declared and paid dividends............................. & GJ2 & 37,400 & & 37,400 \\ \hline \end{tabular} \begin{tabular}{|c|cc|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Interest Earned } & \multicolumn{4}{c|}{ Account No. 409 } \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Collection of interest & & 202.50 & 202.50 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales } & \multicolumn{2}{|c|}{ Account No. 413} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 5/Apr & Sold merchandise on credit & GJ1 & & 370,600 & 370,600 \\ \hline 13/Apr & Sold merchandise on credit... & GJ1 & & 1,744,000 & 2,114,600 \\ \hline 20/Apr & Sold merchandise on credit. & GJ2 & & 915,600 & 3,030,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Discounts } & \multicolumn{3}{r|}{ Account No. 415 } \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 13/Apr & Received customer payment & GJ1 & 7,412 & & 7,412 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Discounts } & \multicolumn{2}{|c|}{ Account No. 415} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 13/Apr & Received customer payment. & GJ1 & 7,412 & & 7,412 \\ \hline 22/Apr & Received customer payment. & GJ2 & 34,880 & & 42,292 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cost Of Goods Sold } & \multicolumn{2}{|c|}{ Account No. 502} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 5/Apr & Sold merchandise on credit & GJ1 & 136,000 & & 136,000 \\ \hline 13/Apr & Sold merchandise on credit... & GJ1 & 640,000 & & 776,000 \\ \hline 20/Apr & Sold merchandise on credit... & GJ 2 & 336,000 & & 1,112,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Office Salaries Expense } & \multicolumn{2}{|c|}{ Account No. 620} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Paid cash for salaries. & GJ1 & 14,000 & & 14,000 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & 14,000 & & 28,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Sales Salaries Expense } & \multicolumn{2}{|c|}{ Account No. 621} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 15/Apr & Paid cash for salaries. & GJ1 & 39,000 & & 39,000 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & 39,000 & & 78,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent expense, office space } & \multicolumn{2}{|c|}{ Account No. 641} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 1/Apr & Paid cash for rent. & GJ1 & 3,360 & & 3,360 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Rent expense, selling space } & Account No. 642 \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 1/Apr & Paid cash for rent & & 2,240 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Gain on Sale of Property, Plant and Equipment Assets } & Account No. 7081 \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 2/Apr & Sold all store equipment for cash & & 260 & 260 \\ \hline \end{tabular} a) Prepare the unadjusted trial balance at April 30, 2024. b) What is the next step in the accounting cycle? Prepare financial statements Prepare a post-closing trial balance Post closing entries Prepare bank reconciliation and adjusting entries Post adjusting entries Prepare an adjusted trial balance Analyze and journalize transactions This is the last step Post transactions Prepare closing entries Benson Inc.'s April journal entries have been posted to the general ledger for you as shown below. This is similar to ho \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cash } & \multicolumn{2}{|c|}{ Account No. 101} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 1,232,280.50 \\ \hline 1/Apr & Paid cash for rent & GJ1 & & 5,600 & 1,226,680.50 \\ \hline 2/Apr & Sold all store equipment for cash.... & GJ1 & 25,850 & & 1,252,530.50 \\ \hline 9/Apr & Issued cheque for purchase & GJ1 & & 529,500 & 723,030.50 \\ \hline 13/Apr & Received customer payment.... & GJ1 & 363,188 & & 1,086,218.50 \\ \hline 15/Apr & Collection of interest & GJ1 & 3,590 & & 1,089,808.50 \\ \hline 15/Apr & Paid cash for salaries.... & GJ1 & & 53,000 & 1,036,808.50 \\ \hline 18/Apr & Paid invoice for merchandise.... & GJ2 & & 640,000 & 396,808.50 \\ \hline 19/Apr & Issued shares. & GJ2 & 28,000 & & 424,808.50 \\ \hline 19/Apr & Paid invoice for office furniture & GJ2 & & 11,200 & 413,608.50 \\ \hline 22/Apr & Received customer payment & GJ2 & 1,709,120 & & 2,122,728.50 \\ \hline 23/Apr & Declared and paid dividends...... & GJ2 & & 37,400 & 2,085,328.50 \\ \hline 25/Apr & Paid invoice for merchandise........ & GJ2 & & 627,200 & 1,458,128.50 \\ \hline 28/Apr & Paid utility bill... & GJ2 & & 26,000 & 1,432,128.50 \\ \hline 30/Apr & Paid cash for salaries. & GJ2 & & 53,000 & 1,379,128.50 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Accounts Receivable } & \multicolumn{2}{|c|}{ Account No. 106} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 176,700 \\ \hline 5/Apr & Zcom Inc. : Sold merchandise on credit... & GJ1 & 370,600 & & 547,300 \\ \hline 13/Apr & Zcom Inc : Received customer payment & GJ1 & & 370,600 & 176,700 \\ \hline 13/Apr & Zcom Inc. : Sold merchandise on credit & GJ1 & 1,744,000 & & 1,920,700 \\ \hline 20/Apr & X-cell Inc. : Sold merchandise on credit & GJ2 & 915,600 & & 2,836,300 \\ \hline 21/Apr & Barton Corporation : Wrote off uncollectible account. & GJ2 & & 176,700 & 2,659,600 \\ \hline 22/Apr & Zcom Inc. : Received customer payment... & GJ2 & & 1,744,000 & 915,600 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Allowance for Doubtful Accounts } & \multicolumn{2}{|c|}{ Account No. 107} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance. & & & & 28,272 \\ \hline 21/Apr & Wrote off uncollectible account & GJ 2 & 176,700 & & 148,428 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Interest Receivable } & \multicolumn{2}{|c|}{ Account No. 109} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 202.50 \\ \hline 15/Apr & Collection of interest. & GJ1 & & 202.50 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Notes Receivable } & \multicolumn{2}{|c|}{ Account No. 111} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance.... & & & & 81,000 \\ \hline 15/Apr & Collection of interest.... & GJ1 & & 3,185 & 77,815 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Merchandise Inventory } & \multicolumn{2}{|c|}{ Account No. 119} \\ \hline Date & Explanation & F & Debit & Credit & Balance \\ \hline 31/Mar & Opening balance... & & & & 1,440,000 \\ \hline 5/Apr & Sold merchandise on credit... & GJ1 & & 136,000 & 1,304,000 \\ \hline 6/Apr & Purchased merchandise ............. & GJ1 & 640,000 & & 1,944,000 \\ \hline 13/Apr & Sold merchandise on credit.... & GJ1 & & 640,000 & 1,304,000 \\ \hline 18/Apr & Purchased merchandise on credit... & GJ2 & 640,000 & & 1,944,000 \\ \hline 20/Apr & Sold merchandise on credit.... & GJ2 & & 336,000 & 1,608,000 \\ \hline 25/Apr & Paid invoice for merchandise... & GJ2 & & 12,800 & 1,595,200 \\ \hline 27/Apr & Purchased merchandise inventory on credit. & GJ 2 & 360,450 & & 1,955,650 \\ \hline \end{tabular} a) The following bank statement was received. Prepare a bank reconciliation for April: Additional Information: The NSF cheque was received in March from ABC Inc. for a sale dated March 15. - It is estimated that utilities used during April totalled $19,500. - Actual count of ending merchandise inventory on April 30, 2024 was $1,818,754. past due (60%). Since this is an estimate please round your final answer to the nearest whole dollar. - Income taxes are estimated to be $243,100
