Question: Also using the adjustments, create a multi-step income statement, statement of retained earnings, and classified balance sheet for Myer's Home Supply Company for year ended


Adjustments: 1. After doing the year-end count of office supplies, Myers found that $330 of office supplies remained. 2. After doing the year-end count of inventory, Myers determined that there was $48,800 in ending inventory. 3. Of the $3,600 of prepaid store insurance, $2,200 had expired. 4. Depreciation of the office equipment for the year was $10,500. 5. Depreciation of the store equipment for the year was $20,000. 6. The $24,000 in uneamed revenue was for orders that were paid for in advance. At year end of the prepaid orders were fulfilled. 7. Wages that have accrued for the year but have not been paid yet totaled $4,000. This should be split evenly between Sales Salaries and Office Salaries. Trail Balance Adjustments Debit Credit Adjusted Trial Balance Debit Credit Account Debit Credit Cash 32.000 45,000 1.200 3.600 52.000 120.000 80.000 SR.DOO Accounts Receivable Office Supplies Prepaid Store Insurance Inventory Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Salaries Payable Uncanned Revenge Note Payable (Due in 3 years) Common Stock Retained Earning Dividends 32.00 28.000 ol 24.000 50.000 20.000 32.300 10000 Sales 800.000 26.000 460.00 26.000 88,500 Sales Returns and Allowances Cost of Goods Sold Advertising Expose Deprication Expense - Office Equipment Depreciation Expense - Stoc Equipment Sales Salaries Expone Office Salaries Expense Sells Department Rent Expense Administration Reot Expense Store Insurance Expense Orice Supplies Expetac 120.000 27.000 27.000 0 0 1.126,300 1.126.300
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