Question

Vicki's Fabric Store shows the trial balance on page 603 as of December 31, 20-1. At the end of the year, the following adjustments need to be made:

(a and b) Merchandise inventory as of December 31, $31,600.
(c) Unused supplies on hand, $1,150.
(d) Insurance expired, $350.
(e) Depreciation expense for the year, $700.
(f) Wages earned but not paid (Wages Payable), $520.
(g) Unearned revenue on December 31, 20-1, $1,200.
Vicki's Fabric Store
Trial Balance
For Year Ended December 31, 20-1


REQUIRED
1. Prepare a work sheet.
2. Prepare adjusting entries.
3. Prepare closing entries.
4. Prepare a post-closing trial balance.
5. Prepare reversingentry(ies).


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  • CreatedJune 07, 2014
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