Concept explainers
Journalizing
The W1adjusted trial balance for Thomas Electronics Company follows:
Requirements
1. Journalize the adjusting entries using the following data:
a. Interest revenue accrued, $300.
b. Salaries (Selling) accrued, $2,400.
c. Depreciation Expense—Equipment (Administrative), $ 1,310.
d. Interest expense accrued, $1,300.
e. A physical count of inventory was completed. The ending Merchandise
Inventory should have a balance of $44,900.
2. Prepare Thomas Electronics’s adjusted trial balance as of October 31, 2016.
3. Prepare Thomas Electronics’s multi-step income statement for year ended October 31, 2016.
4. Prepare Thom as Electronics’s statement of
5. Prepare Thomas Electronics’s classified
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Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
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