Working Backward From Adjusted Trial Balance To Determine Adjusting Entries The partial spreadsheet shown below is taken from the books of Sunstate Computer Supply, a business owned by Michelle Thibeault, for the year ended December 31, 20 Sunstate is on the periodic inventory system Required Question Content Area 1 Determine the adjusting entries by analyzing the difference between the adjusted trial balance and the trial balance Sunstate Computer Supply End of Period Spreadsheet For Year Ended December 31, 20 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 22,000 fill in the blank 81c1a5059048002 1 fill in the blank 81c1a5059048002 2 22,000 Accounts Receivable 15,400 fill in the blank 81c1a5059048002 3 fill in the blank 81c1a5059048002 4 15,400 Merchandise Inventory 82,600 fill in the blank 81c1a5059048002 5 fill in the blank 81c1a5059048002 6 93,400 Estimated Returns Inventory 3,520 fill in the blank 81c1a5059048002 7 fill in the blank 81c1a5059048002 8 4,730 Supplies 8,900 fill in the blank 81c1a5059048002 9 fill in the blank 81c1a5059048002 10 3,740 Prepaid Insurance 5,940 fill in the blank 81c1a5059048002 11 fill in the blank 81c1a5059048002 12 4,190 Land 143,000 fill in the blank 81c1a5059048002 13 fill in the blank 81c1a5059048002 14 143,000 Building 265,000 fill in the blank 81c1a5059048002 15 fill in the blank 81c1a5059048002 16 265,000 Accumulated DepreciationBuilding 106,000 fill in the blank 81c1a5059048002 17 fill in the blank 81c1a5059048002 18 119,250 Store Equipment 120,000 fill in the blank 81c1a5059048002 19 fill in the blank 81c1a5059048002 20 120,000 Accumulated DepreciationStore Equipment 48,000 fill in the blank 81c1a5059048002 21 fill in the blank 81c1a5059048002 22 54,000 Accounts Payable 10,560 fill in the blank 81c1a5059048002 23 fill in the blank 81c1a5059048002 24 10,560 Customer Refunds Payable 3,800 fill in the blank 81c1a5059048002 25 fill in the blank 81c1a5059048002 26 6,230 Wages Payable fill in the blank 81c1a5059048002 27 fill in the blank 81c1a5059048002 28 3,860 Sales Tax Payable 6,490 fill in the blank 81c1a5059048002 29 fill in the blank 81c1a5059048002 30 6,490 Unearned Rent Revenue 9,800 fill in the blank 81c1a5059048002 31 fill in the blank 81c1a5059048002 32 4,970 M Thibeault, Capital 312,421 fill in the blank 81c1a5059048002 33 fill in the blank 81c1a5059048002 34 312,421 M Thibeault, Drawing 28,600 fill in the blank 81c1a5059048002 35 fill in the blank 81c1a5059048002 36 28,600 Income Summary fill in the blank 81c1a5059048002 37 fill in the blank 81c1a5059048002 38 82,600 93,400 fill in the blank 81c1a5059048002 39 fill in the blank 81c1a5059048002 40 3,520 4,730 Sales 577,664 fill in the blank 81c1a5059048002 41 fill in the blank 81c1a5059048002 42 577,664 Sales Returns and Allowances 15,900 fill in the blank 81c1a5059048002 43 fill in the blank 81c1a5059048002 44 18,330 Rent Revenue fill in the blank 81c1a5059048002 45 fill in the blank 81c1a5059048002 46 4,830 Purchases 137,500 fill in the blank 81c1a5059048002 47 fill in the blank 81c1a5059048002 48 137,500 Purchases Returns and Allowances 1,540 fill in the blank 81c1a5059048002 49 fill in the blank 81c1a5059048002 50 1,540 Purchases Discounts 1,980 fill in the blank 81c1a5059048002 51 fill in the blank 81c1a5059048002 52 1,980 Freight In 2,310 fill in the blank 81c1a5059048002 53 fill in the blank 81c1a5059048002 54 2,310 Wages Expense 137,000 fill in the blank 81c1a5059048002 55 fill in the blank 81c1a5059048002 56 140,860 Advertising Expense 14,300 fill in the blank 81c1a5059048002 57 fill in the blank 81c1a5059048002 58 14,300 Supplies Expense fill in the blank 81c1a5059048002 59 fill in the blank 81c1a5059048002 60 5,160 Phone Expense 1,485 fill in the blank 81c1a5059048002 61 fill in the blank 81c1a5059048002 62 1,485 Utilities Expense 8,800 fill in the blank 81c1a5059048002 63 fill in the blank 81c1a5059048002 64 8,800 Insurance Expense fill in the blank 81c1a5059048002 65 fill in the blank 81c1a5059048002 66 1,750 Depreciation ExpenseBuilding fill in the blank 81c1a5059048002 67 fill in the blank 81c1a5059048002 68 13,250 Depreciation ExpenseStore Equipment fill in the blank 81c1a5059048002 69 fill in the blank 81c1a5059048002 70 6,000 Rent Expense 66,000 fill in the blank 81c1a5059048002 71 fill in the blank 81c1a5059048002 72 66,000 1,078,255 1,078,255 fill in the blank 81c1a5059048002 73 fill in the blank 81c1a5059048002 74 1,201,925 1,201,925 501,865 684,144 Net Income 182,279

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Working Backward From Adjusted Trial Balance To Determine Adjusting Entries The partial spreadsheet shown below is taken from the books of Sunstate Computer Supply, a

Working Backward From Adjusted Trial Balance To Determine Adjusting Entries

The partial spreadsheet shown below is taken from the books of Sunstate Computer Supply, a business owned by Michelle Thibeault, for the year ended December 31, 20--. Sunstate is on the periodic inventory system.

Required:

Question Content Area

1. Determine the adjusting entries by analyzing the difference between the adjusted trial balance and the trial balance.

Sunstate Computer Supply End-of-Period Spreadsheet For Year Ended December 31, 20--
	TRIAL BALANCE		ADJUSTMENTS				ADJUSTED TRIAL BALANCE
ACCOUNT TITLE	DEBIT	CREDIT	DEBIT		CREDIT		DEBIT	CREDIT
Cash	22,000			fill in the blank 81c1a5059048002_1		fill in the blank 81c1a5059048002_2	22,000
Accounts Receivable	15,400			fill in the blank 81c1a5059048002_3		fill in the blank 81c1a5059048002_4	15,400
Merchandise Inventory	82,600			fill in the blank 81c1a5059048002_5		fill in the blank 81c1a5059048002_6	93,400
Estimated Returns Inventory	3,520			fill in the blank 81c1a5059048002_7		fill in the blank 81c1a5059048002_8	4,730
Supplies	8,900			fill in the blank 81c1a5059048002_9		fill in the blank 81c1a5059048002_10	3,740
Prepaid Insurance	5,940			fill in the blank 81c1a5059048002_11		fill in the blank 81c1a5059048002_12	4,190
Land	143,000			fill in the blank 81c1a5059048002_13		fill in the blank 81c1a5059048002_14	143,000
Building	265,000			fill in the blank 81c1a5059048002_15		fill in the blank 81c1a5059048002_16	265,000
Accumulated DepreciationBuilding		106,000		fill in the blank 81c1a5059048002_17		fill in the blank 81c1a5059048002_18		119,250
Store Equipment	120,000			fill in the blank 81c1a5059048002_19		fill in the blank 81c1a5059048002_20	120,000
Accumulated DepreciationStore Equipment		48,000		fill in the blank 81c1a5059048002_21		fill in the blank 81c1a5059048002_22		54,000
Accounts Payable		10,560		fill in the blank 81c1a5059048002_23		fill in the blank 81c1a5059048002_24		10,560
Customer Refunds Payable		3,800		fill in the blank 81c1a5059048002_25		fill in the blank 81c1a5059048002_26		6,230
Wages Payable				fill in the blank 81c1a5059048002_27		fill in the blank 81c1a5059048002_28		3,860
Sales Tax Payable		6,490		fill in the blank 81c1a5059048002_29		fill in the blank 81c1a5059048002_30		6,490
Unearned Rent Revenue		9,800		fill in the blank 81c1a5059048002_31		fill in the blank 81c1a5059048002_32		4,970
M. Thibeault, Capital		312,421		fill in the blank 81c1a5059048002_33		fill in the blank 81c1a5059048002_34		312,421
M. Thibeault, Drawing	28,600			fill in the blank 81c1a5059048002_35		fill in the blank 81c1a5059048002_36	28,600
Income Summary				fill in the blank 81c1a5059048002_37		fill in the blank 81c1a5059048002_38	82,600	93,400
				fill in the blank 81c1a5059048002_39		fill in the blank 81c1a5059048002_40	3,520	4,730
Sales		577,664		fill in the blank 81c1a5059048002_41		fill in the blank 81c1a5059048002_42		577,664
Sales Returns and Allowances	15,900			fill in the blank 81c1a5059048002_43		fill in the blank 81c1a5059048002_44	18,330
Rent Revenue				fill in the blank 81c1a5059048002_45		fill in the blank 81c1a5059048002_46		4,830
Purchases	137,500			fill in the blank 81c1a5059048002_47		fill in the blank 81c1a5059048002_48	137,500
Purchases Returns and Allowances		1,540		fill in the blank 81c1a5059048002_49		fill in the blank 81c1a5059048002_50		1,540
Purchases Discounts		1,980		fill in the blank 81c1a5059048002_51		fill in the blank 81c1a5059048002_52		1,980
Freight-In	2,310			fill in the blank 81c1a5059048002_53		fill in the blank 81c1a5059048002_54	2,310
Wages Expense	137,000			fill in the blank 81c1a5059048002_55		fill in the blank 81c1a5059048002_56	140,860
Advertising Expense	14,300			fill in the blank 81c1a5059048002_57		fill in the blank 81c1a5059048002_58	14,300
Supplies Expense				fill in the blank 81c1a5059048002_59		fill in the blank 81c1a5059048002_60	5,160
Phone Expense	1,485			fill in the blank 81c1a5059048002_61		fill in the blank 81c1a5059048002_62	1,485
Utilities Expense	8,800			fill in the blank 81c1a5059048002_63		fill in the blank 81c1a5059048002_64	8,800
Insurance Expense				fill in the blank 81c1a5059048002_65		fill in the blank 81c1a5059048002_66	1,750
Depreciation ExpenseBuilding				fill in the blank 81c1a5059048002_67		fill in the blank 81c1a5059048002_68	13,250
Depreciation ExpenseStore Equipment				fill in the blank 81c1a5059048002_69		fill in the blank 81c1a5059048002_70	6,000
Rent Expense	66,000			fill in the blank 81c1a5059048002_71		fill in the blank 81c1a5059048002_72	66,000
	1,078,255	1,078,255		fill in the blank 81c1a5059048002_73		fill in the blank 81c1a5059048002_74	1,201,925	1,201,925
							501,865	684,144
Net Income							182,279