The trial balance for Cascade Bicycle Shop, a business owned by David Lamond, is shown below. Year-end adjustment information is as follows:(a and b) Merchandise inventory costing $22,000 is on hand as of December 31, 20–. (The periodic inventory system is used.)(c) Supplies remaining at the end of the year, $2,400.(d) Unexpired insurance on December 31, $1,750.(e) Depreciation expense on the building for 20–, $4,000.(f) Depreciation expense on the store equipment for 20–, $3,600.(g) Unearned storage revenue as of December 31, $1,950.(h) Wages earned but not paid as of December 31, $750.REQUIRED1. Complete the Adjustments columns, identifying each adjustment with its corresponding letter.2. Complete the work sheet.3. Enter the adjustments in the generaljournal.
View Solution:
The trial balance for Cascade Bicycle Shop a business owned

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *