Horngren's Accounting (12th Edition)
12th Edition
ISBN: 9780134486444
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 5, Problem P5.37APGA
Journalizing
Learning Objective 4, 5
2. Total Credits $463, 300
The unadjusted trial balance for Trudel Electronics Company at March 31, 2018, follows:
| TRUDEL ELECTRONICS COMPANY Adjusted Trial Balance March 31, 2018 |
||
| Balance | ||
| Account Title | Debit | Credit |
| Cash | $ 4,000 | |
| 38,800 | ||
| Merchandise Inventory | 45,500 | |
| Office Supplies | 6,500 | |
| Equipment | 130,000 | |
| $ 36,800 | ||
| Accounts Payable | 17,400 | |
| Unearned Revenue | 13,200 | |
| Notes Payable, long-term | 48,000 | |
| Trudel, Capital | 60,100 | |
| Trudel, Withdrawals | 20,000 | |
| Sales Revenue | 282,500 | |
| Cost of Goods Sold | 160,600 | |
| Salaries Expense (Selling) | 20,000 | |
| Rest Expense (Selling) | 15,800 | |
| Salaries Expense (Administrative) | 5,700 | |
| Utilities Expense(Administrative) | 11,100 | |
| Total | $458,000 | $458,000 |
Requirements
- Journalize the adjusting entries using the following data: a. Interest revenue accued, $200.
b. Salaries (Selling) accrued, $2,300.
c. Depreciation Expense-Equipment (Administrative), $1,300.
d. Interest expense accued, $1,500.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $45,200.
f Trudel estimates that approximately $6,000 of merchandise sold will be returned with a cost of $1,200.
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Chapter 5 Solutions
Horngren's Accounting (12th Edition)
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