$1.$ Prepare Multiple Step and Single Step Income

Adjusted Trial Balance: $[$marks$]$

Chocolate Inc.

Adjusted Trail Balance

December $312022$

Cash

$19,300$

Merchandize inventory

$50,000|$

Store Supplies

$1,000|$

Equipment

$44,600|$

Depreciation, Equipment

$16,500$

Accounts payable

$8000$

Salaries payable

$1,000$

Owner capital

$69,000$

Owner withdrawal

$8000$

Interest income

$300$

Sales

$325,000$

Discounts on Sales

$6000|$

Sales Returns and Allowances

$5000$

Beginning Inventory

$2,00,000|$

Cost of goods purchased

$20,000|$

Ending inventory

$72,000$

Depreciation expense, store Equipment

$4,000$

Depreciation expense, office

Equipment

$1500$

Sales salary expense

$28,000|$

Office salary expense

$32,000|$

Insurance expense

$12,000$

Rent expense

$24,000|$

Store supply expense

$6,000$

Advertising expense

$30,400|$