Question

construct T-accounts

Presented below is the December 31 trial balance of Sunland Boutique. SUNLAND BOUTIQUE TRIAL BALANCE DECEMBER 31 Debit Credit Cash $20,100 Accounts Receivable 39,800 Allowance for Doubtful Accounts $717 Inventory, December 31 80,410 Prepaid Insurance 5,350 Equipment 91,000 Accumulated Depreciation-Equipment 35,600 Notes Payable 27,530 Common Stock 74,607 Retained Earnings 10,990 Sales Revenue 705,086 Cost of Goods Sold 476,900 Salaries and Wages Expense (sales) 61,200 Advertising Expense 6,790 Salaries and Wages Expense (administrative) 67,600 Supplies Expense 5,380 $854,530 $854,530

adjusting entries

post adjusting journal entries to the t-accounts, closiing entries, post closung entries

Answer 1

Constructing T- Accounts 1) Dr. Allowance for Doubtful Accounts To Balance old 1424 By Balance bold By profit&loss Alc_ (in $2 Gr. 717 707_ 1424 1424 (7. 2) Dr. Accumulated Depreciation - Equipment To Balance cld 48,600 By Balance bld By profit & Loss Ak 35,600 13 DUO 48600 48600 91000 Working Notes: - Equipment Cost : $91000 Cost of Asset Depreciation & Life of Asset Depreciation - 13000 Cr 2756 prepaid Insurance To Balance bold 5,350 By Pal Alc ( Insurance Expired) By balance old 5350 2594 5350

ore Interest to balance dd To be Acouued on Notes payable 3126 By Inforest on Notes popble 14 3176 3126 o n To Balance bold To pel Alc Salaries and Wages Expense (sales) 61,200 By Balance cld 63426 2226 63426 63.925 6) Dr. To Balance bold To Bank Alc Advertising Expense. 6790 By Balance eld 7501 #7 7507 7507 f) Dr. __ To Balance Supplies Expense bld 5,380 | By Office Supplies CAdjustment Entry) 1630 - - By Balance cold 3750 5320 5380
Please note that Dr. stands for Debit recorder and Cr stands for Credit recorder.