unadjusted trial balance

Project Description:

the following unadjusted trial balance is prepared at fiscal year-end for rex company.

rex company
unadjusted trial balance
january 31,2011
debit credit
cash $ 2,200
merchandise inventory 11,500
store supplies 4,800
prepaid insurance 2,300
store equipment 41,900
accumulated depreciation—store equipment $ 15,000
accounts payable 9,000
common stock
5,000
retained earnings 27,000
dividends 2,000
sales
104,000
sales discounts 1,000
sales returns and allowances 2,000
cost of goods sold 37,400
depreciation expense—store equipment 0
salaries expense 31,000
insurance expense 0
rent expense 14,000
store supplies expense 0
advertising expense 9,900

totals $ 160,000 $ 160,000


the following unadjusted trial balance is prepared at fiscal year-end for rex company.

rex company
unadjusted trial balance
january 31,2011
debit credit
cash $ 2,200
merchandise inventory 11,500
store supplies 4,800
prepaid insurance 2,300
store equipment 41,900
accumulated depreciation—store equipment $ 15,000
accounts payable 9,000
common stock
5,000
retained earnings 27,000
dividends 2,000
sales
104,000
sales discounts 1,000
sales returns and allowances 2,000
cost of goods sold 37,400
depreciation expense—store equipment 0
salaries expense 31,000
insurance expense 0
rent expense 14,000
store supplies expense 0
advertising expense 9,900

totals $ 160,000 $ 160,000

rent expense and salaries expense are equally divided between selling activities and the general and administrative activities. rex company uses a perpetual inventory system.

additional information:
a. store supplies still available at fiscal year-end amount to $1,650.
b. expired insurance, an administrative expense, for the fiscal year is $1,500.
c. depreciation expense on store equipment, a selling expense, is $1,400 for the fiscal year.
d. to estimate shrinkage, a physical count of ending merchandise inventory is taken. it shows $11,100 of inventory is still available at fiscal year-end..

prepare and complete the entire 10-column work sheet for rex company
Skills Required:
Project Stats:

Price Type: Negotiable

Expired
Total Proposals: 6
1 Current viewersl
14 Total views
Project posted by:

Proposals

Proposals Reputation Price offered
  • 4.8
    546 Jobs 386 Reviews
    $10 in 0 Day
  • 4.1
    70 Jobs 30 Reviews
    $10 in 0 Day
  • 4.4
    86 Jobs 65 Reviews
    $0 in 0 Day
  • 4.9
    287 Jobs 248 Reviews
    $0 in 0 Day
  • 4.9
    73 Jobs 54 Reviews
    $0 in 0 Day