Question: please answer this question with all its parts in full detail and please do not use excel ! Merchandising Operations 369 p5-40B Preparing a multi-step
Merchandising Operations 369 p5-40B Preparing a multi-step income statement, journalizing closing entries and preparing a post-closing trial balance The adjusted trial balance of Daddy's Music Company at April 30, 2015, follows: Learning Objectives 4,5 1. Operating Income 557,000 DADDY'S MUSIC COMPANY Adjusted Trial Balance April 30, 2015 Account Title Cash Accounts Receivable Merchandise inventory Office Supplies Furniture Accumulated Depreciation - Furniture Accounts Payable Salaries Payable Unearned Revenue Notes Payable, long-term Otousan, Capital Otousan, Withdrawals Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total Balance Debit Credit 5 4,300 38,200 17,800 600 39,400 $ 9.000 13,600 1,200 6,600 14,000 40,100 40,000 180,000 5.500 1,500 81,800 19,200 14,000 1,200 $ 264,500 $ 264,500 CHAPTERS Requirements 1. Prepare Daddy's multi-step income statement for the year ended April 30, 2015. 2. Journalize Daddy's closing entries. 3. Prepare a post-closing trial balance as of April 30, 2015
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