The unadjusted trial balance for Gold Electronics Company follows: 

Requirements 

1. Journalize the adjusting entries using the following data: 

a. Interest revenue accrued, $300. 

b. Salaries (Selling) accrued, $2,400. 

c. Depreciation Expense—Equipment (Administrative), $1,310. 

d. Interest expense accrued, $1,300. 

e. A physical count of inventory was completed. 

The ending Merchandise Inventory should have a balance of $44,900.

2. Prepare Gold Electronics Company’s adjusted trial balance as of October 31, 2025. 

3. Prepare Gold Electronics Company’s multi-step income statement for year ended October 31, 2025.  

Transcribed Image Text:

Account Title Cash GOLD ELECTRONICS COMPANY Unadjusted Trial Balance October 31, 2025 Accounts Receivable Merchandise Inventory Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Unearned Revenue Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Salaries Expense (Selling) Rent Expense (Selling) Salaries Expense (Administrative) Utilities Expense (Administrative) Total Balance Debit $ 4,400 35,200 45,600 5,700 131,000 27,000 5,500 4,000 170,500 25,000 15,300 4,900 11,000 $ 485,100 Credit $ 37,900 15,800 13,700 47,000 45,000 15,700 310,000 $ 485,100