Question

PALISADE CREEK CO. MAY 31, 2018

Part 8: Income statment, Retained earnings Statment, and Blance sheet

Part 9: Closing entries

part 10:Post-closing trial balance

above i have completed the end of period spreadsheet and Adjusted Balance…

End-of-Period spreadsheet (Work sheet For the Year Ended May 31, 2018 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Cred Debi Cred Debi Debit Cred Debi Credit 84,500 84,500 84,500 v Cash Accounts Receivable E2451875 245 875 245,875 58 3,9 50 13,9 so 570,000 570,000 nventory Estimated Retums 15, 200 35,000 50, 2000 v 50,200 v inventory 16,800 12,000 4,800 v 4, 800 Prepaid Insurance Store suppres 131500 9800V 000 4,000 569, 500 v 569,500 v 569,500 Store Equipment 70,700 63, 150 63 15 63,150 v Accounts Payable 13,600 v Customers Refunds 29, 270 60,000 89,270 89,270 v Payable Common stock 100,000 100,000 100,000 1585, 300 585.300 585,300 V Retained Earnings Dividends 5.37 2005 60,000 5.316205 5.316205 v costof Goods sold 3,013,000 13.950 35.000 2,991.950 2,991.950 V 720,800 17,000 v 727,800 v 727,800 v Sales Salaries Expense Adverts ng Expense 29 2,000V 29 2.000 292,000 14,000 v 14,000 v 14,000 Depreciation Expense 9 v 9,800 v 9,800 v Store Supplies Expense Miscellaneous Sellng 12,600 12,600 12 600 Expense 11.100 600 417,700 417200 Office Salaries Expense 88,700 88,700 88,700 Rent Expense 12,000 v 12,000 v 12,000 nsurance Expense Mis laneous Admin Expense 6,210,625 6.210,625 158.350 v 158.350 6.238, 225 6.238 225 4,574 350 v 5.316205 v 1,528,875 X 922,020 Net Income



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