Question

22. Use the following information to complete the partial worksheet for Bill's Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns. Please Note: because this is a partial trial balance, your adjusted trial balance columns will not equal. (15 pts) $10 3 Merchandise inventory-ending Store supplies on hand Depreciation on store equipment Accrued salaries Bill's Company Partial Worksheet For the Year Ended December 31, 200x Trial Balance Adjustments Account Titles Adjusted Trial Balance Debit Credit 10 Credit Debit Credit Debit 16 10 20 Merchandise Inv. Store Supplies - Store Equipment Accum. Depr. Store Equip. Salaries Payable Income Summary Salary Expense Depreciation Expense Store Supplies Exp.

Answer 1

Adjusted trial balance and adjustment entries shown below-

Account Titles For the year ended December 31, 200X Trial Balance Adjustments Debit Credit Debit Credit 6 16 Adjusted Trial Balance Debit Credit 10 3 20 10 Merchandise Inv. Store Supplies Store Equipment Acc. Dep stores Equipment Salaries Payable Income Summary Salary Expense Depreciation Expense Store Supplies Expense Debit Credit Adjustment entries Income Summary Merchandise Inventory Store supplies Expense Store supplies Depreciation Expense Acc. Dep stores Equipment Salary Expense Salaries Payable