Question

394 following trial balance and additional data, complete a worksheet for Jim's Hardware: Additional Data 2. Physical count L01,2 (60 min) usical count of inventory on December 31, 5615 h Insurance expired, $150 Depreciation expense on store equi d. Accrued wages, $90 JIM'S HARDWARE TRIAL BALANCE DECEMBER 31, 2018 Figure 11.11 Trial Balance for Jim's Hardware Dr. 7 8 600 115200 60 000 68 400 2 1 6 000 Check Figure: Net Income 52,289 6 6 0 0 5 1 600 Accounts Receivable Merchandise Inventory Prepaid Insurance Store Equipment Acumulated Depreciation, Store Equipment Accounts Payable im Spool, Capital Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Wages Expense Rent Expense Telephone Expense Miscellaneous Expense 110400 5 4 600 2 1 6 00 49 8600 1 7 1 6 00 7 92.00 11400 9600 138 48 00 13 8 4 8 00

Answer 1

	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance		Income Statement		Balance Sheet and Statement of Owner's Equity
Account Titles	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit
Cash	$                786				$                786				$            786
Accounts Receivable	$            1,152				$            1,152				$         1,152
Merchandise Inventory	$                600		$                  15		$                615				$            615
Prepaid Insurance	$                684			$                150	$                534				$            534
Store Equipment	$            2,160				$            2,160				$         2,160
Accumulated Depreciation - Equipment		$                660		$                  60		$             720				$            720
Accounts Payable		$                516				$             516				$            516
Wages Payable		$                   -		$                  90		$               90				$               90
Jim Spool, Capital		$            1,632				$         1,632				$         1,632
Sales		$          11,040				$       11,040		$      11,040
Sales Returns and Allowances	$                546				$                546		$            546
Sales Discounts	$                216				$                216		$            216
Cost of Goods Sold	$            4,986			$                  15	$            4,971		$         4,971
Wages Expense	$            1,716		$                  90		$            1,806		$         1,806
Insurance Expense	$                   -		$                150		$                150		$            150
Rent Expense	$                792				$                792		$            792
Depreciation Expense	$                   -		$                  60		$                  60		$               60
Telephone Expenses	$                114				$                114		$            114
Misc Expenses	$                  96				$                  96		$               96
Totals	$          13,848	$          13,848	$                315	$                315	$          13,998	$       13,998	$         8,751	$      11,040	$         5,247	$         2,958
Net Income							$         2,289			$         2,289
Totals							$      11,040	$      11,040	$         5,247	$         5,247