The August 31 trial balance for Shutterbug Cameras is listed on the shown below. Also listed is
Question:
The August 31 trial balance for Shutterbug Cameras is listed on the shown below. Also listed is the data needed for the adjustments.
Instructions
In your working papers, complete the ten-column work sheet for Shutterbug Cameras for the month ended August 31.
Transcribed Image Text:
101 Cash in Bank 115 Accounts Receivable 125 Merchandise Inventory 130 Supplies 135 Prepaid Insurance 140 Store Equipment 201 Accounts Payable 207 Federal Corporate Income Tax Payable 210 Employees' Federal Income Tax Payable 211 Employees' State Income Tax Payable 212 Social Security Tax Payable Medicare Tax Payable 213 215 Sales Tax Payable 216 Federal Unemployment Tax Payable 217 State Unemployment Tax Payable 301 Capital Stock 305 Retained Earnings 310 Income Summary 401 Sales 405 Sales Discounts 410 Sales Returns and Allowances Trial Balance Debit $13,873 5,382 82,981 2,397 1,350 30,769 37 945 Credit $ 8,481 194 48 119 25 381 19 92 80,000 28,568 95,487
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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