FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Journalize the necessary adjusting entries for the following (partial) trial balance. Based on a physical count, the ending merchandise inventory is $67,000. Unearned revenue at year-end was $4,230. Account Title Debit Credit Cash 7,500 Accounts Receivable 17,000 Merchandise Inventory 86,000 Unearned Revenue 20,800 Revenue 193,000 Purchases 82,000 Purchases Discounts 4,100 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 а. 1 2 3 b. 4 5 C. 5 6.
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Transcribed Image Text:Journalize the necessary adjusting entries for the following (partial) trial balance. Based on a physical count, the ending merchandise inventory is $67,000. Unearned revenue at year-end was $4,230. Account Title Debit Credit Cash 7,500 Accounts Receivable 17,000 Merchandise Inventory 86,000 Unearned Revenue 20,800 Revenue 193,000 Purchases 82,000 Purchases Discounts 4,100 If an amount box does not require an entry, leave it blank. Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 а. 1 2 3 b. 4 5 C. 5 6.
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Cash Accounts Receivable Merchandise Inventory Unearned Revenue Revenue Purchases Purchases Discounts 1 a. 2 3 b. 4 Account Title DATE If an amount box does not require an entry, leave it blank. Page: 1 POST. REF. 5 c. 6 DESCRIPTION Income Summary Merchandise Inventory Merchandise Inventory Income Summary Unearned Revenue Debit 7,500 17,000 86,000 Revenue 82,000 86000 Credit 67000 20,800 193,000 DEBIT 16570 4,100 CREDIT + 86000 + 67000 16570 1 A W N +3 4 +5 6
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Transcribed Image Text:Cash Accounts Receivable Merchandise Inventory Unearned Revenue Revenue Purchases Purchases Discounts 1 a. 2 3 b. 4 Account Title DATE If an amount box does not require an entry, leave it blank. Page: 1 POST. REF. 5 c. 6 DESCRIPTION Income Summary Merchandise Inventory Merchandise Inventory Income Summary Unearned Revenue Debit 7,500 17,000 86,000 Revenue 82,000 86000 Credit 67000 20,800 193,000 DEBIT 16570 4,100 CREDIT + 86000 + 67000 16570 1 A W N +3 4 +5 6
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Cash Accounts Receivable Merchandise Inventory Unearned Revenue Revenue Purchases Purchases Discounts 1 a. 2 3 b. 4 Account Title DATE If an amount box does not require an entry, leave it blank. Page: 1 POST. REF. 5 c. 6 DESCRIPTION Income Summary Merchandise Inventory Merchandise Inventory Income Summary Unearned Revenue Debit 7,500 17,000 86,000 Revenue 82,000 86000 Credit 67000 20,800 193,000 DEBIT 16570 4,100 CREDIT + 86000 + 67000 16570 1 A W N +3 4 +5 6
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Transcribed Image Text:Cash Accounts Receivable Merchandise Inventory Unearned Revenue Revenue Purchases Purchases Discounts 1 a. 2 3 b. 4 Account Title DATE If an amount box does not require an entry, leave it blank. Page: 1 POST. REF. 5 c. 6 DESCRIPTION Income Summary Merchandise Inventory Merchandise Inventory Income Summary Unearned Revenue Debit 7,500 17,000 86,000 Revenue 82,000 86000 Credit 67000 20,800 193,000 DEBIT 16570 4,100 CREDIT + 86000 + 67000 16570 1 A W N +3 4 +5 6
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