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Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory...

Northridge LLC Trial Balance April 30, 20XX Debit Credit Cash $58,791 Accounts receivable 18,495 Merchandise inventory 85,221 Office Supplies 2250 Store Supplies' 885 Prepaid Insurance 1659 Office equipment 2500 Accumulated depreciation-Office Equipment $658 Store equipment 16580 Accumulated depreciation-Store Equipment 2,268 Accounts Payable 50921 J. Spark, Capital 132,534 Totals $186,381 $186,381 Using the information from the Excel workbook from Week 3’s submission, complete a worksheet using the following information for accounting adjustments. Complete the columns for the below adjusting entries, income statement, and balance sheet. Also, record the required closing entries. Add any lines as necessary. 1. Expired insurance, $553. 2. Ending store supplies inventory, $2,632. 3. Ending office supplies inventory, $504. 4. Depreciation of store equipment, $567. 5. Depreciation of office equipment, $329..

Need help completing T accounts and worksheet. I completed the General Journal Entries.  

MY GENERAL JOURNAL ENTRIES

GENERAL JOURNAL
      Date      Account Titles and Explanation Debit Credit
May 1 Rent Expense- Selling Space 2968
Rent Expense- Office Space 742
Cash 3710
Paid May's rent
May 2 Accounts Receivable- Hensel 6100
Sales Revenue 6100
Cost of Goods Sold 4100
Inventory 4100
Merchandise Sales on credit
A18:I92May 2 Sales Returns and allowances 175
Accounts Receivable 175
Defective product return
May 3 Accounts Payable 798
Merchandise Inventory 798
Return on merchandise
May 4 Merchandise Inventory 37072
Store Supplies 574
Office Supplies 83
Accounts Payable 37729
Purchased Supplies on credit
May 5 Cash 4459
Sales Discount 91
Accounts Receivable 4550
Payment received for April 28 sale
May 8 Accounts Payable 6300
Merchandise Inventory 126
Cash 6174
Payment to Peyton Product less discount
May 9 Cash 350
Store Supplies 350
Sold Supplies
May 10 Office Equipment 4074
Accounts Payable 4074
Purchased equipment on credit
May 11 Cash 5978
Sales Discount 122
Accounts Receivable 6100
Payment Received from Hensel Company
May 11 Merchandise Inventory 8800
Accounts Payable 8800
Purchased Merchandise from Garcia Inc
May 12 Accounts Payable 854
Office Equipment 854
Returned defective equipment
May 15 Sales Salaries 5320
Office Salaries 3150
Cash 8470
Check 3412 used to pay employees
May 15 Cash 59220
Sales 59220
Merchandise sold for cash
Cost of Goods Sold 38200
Merchandise Inventory 38200
To record cost of goods sold
May 16 Accounts Receivable 3990
Sales 3990
Sold merchandise on credit to Hensel Company
May 16 Cost of Goods Sold 1890
Merchandise Inventory 1890
Record Cost of Goods Sold first half
May 17 Merchandise Inventory 13650
Accounts Payable 13650
Purcased Merchandise From Fink Corp
May 19 Account Payable 8800
Merchadise Inventory 176
Cash 8624
Paid outstanding bill less discount
May 22 Accounts Receivable 6850
Sales 6850
Sold Merchandise to Lee Services
May 23 Accounts Payable 13650
Merchadise Inventory 273
Cash 13377
Paid outstanding bill less discount
May 24 Merchandise Inventory 8120
Store Supplies 630
Office Supplies 280
Accounts Payable 9030
Purchased Items on credit
May 25 Merchandise Inventory 3080
Accounts Payable 3080
Purchased merchandise from Peyton Products
May 26 Accounts Receivable 14210
Sales 14210
Sold Items on credit to Crane Corp
May 26 Cost of Goods Sold 8230
Merchandise Inventory 8230
Record cost of goods sold
Utilities Expense 1283
Cash 1283
Paid Perennial Power
May 29 Jenni Colo Withdrawals 7000
Cash 7000
Record cash withdrawal check 3416
May 30 Cash 6713
Sales discount 137
Accounts Receivable 6850
Received Payments from Lee Services
May 30 Sales Salaries Expense 5320
Office Salaries Expense 3150
Cash 8470
Check 3417 Used to pay employees
May 31 Cash 66052
Sales 66052
Sold Merchandise for cash last half
May 31 Cost of Goods Sold 42500
Merchandise Inventory 42500
record cost of goods last half
May 31 Insurance Expense 553
Prepaid Insurance 553
Insurance Adjustment
May 31 Store Supplies Expense 2632
Store Supplies 2632
Store Supplies Adjustment
May 31 Office Supplies Expense 504
Office Supplies 504
Office Supplies Adjustment
May 31 Depreciation Expense- Store Equipment 567
Accumulated Depreciation-Store Equipment 567
Adjustmentfor Depreciation on Store Equipment
May 31 Depreciation Expense- Office Equipment 329
Accumulated Depreciation-Office Equipment 329
Adjustment for Depreciation on Office Equipment

T ACCOUNTS

CASH Accounts Receivable Merchandise Inventory Store Supplies
Prepaid Insurance Office Equipment Accumulated Depreciation - Office Equip. Store Equipment
Accounts Payable J. Spark, Capital J. Spark, Withdrawals Sales Revenue
Sales Discounts Cost of Goods Sold Depreciation Expense Store Supplies Expense
Insurance Expense Rent expense -Selling space Rent expense -Office space Salaries expense- Sales
WORKSHEET

   

Company Name
Work Sheet
For Month Ended Date, Year
Balance Sheet &
     Unadjusted        Adjusted     Statement of
     Trial Balance      Adjustments      Trial Balance Income Statement     Owner's Equity
   Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash
Accounts receivable
Merchandise inventory
Store supplies                                
Office supplies                               
Prepaid insurance                          
Office equipment
Accumulated depreciation-Office Equipment
Store Equipment
Accumulated depreciation-Store Equipment
Accounts payable
J. Spark, Capital
J. Spark, Withdrawls
Sales revenue
Sales returns and allowances
Sales discounts
Cost of Goods Sold
Depreciation expense - Office Equipment
Depreciation expense - Store Equipment
Store supplies expense                   
Office supplies expense                  
Insurance expense                         
Rent expense -Selling space
Rent expense -Office space
Salaries expense- Sales
Salaries expense- Office
Utilities expense - Electric

Solutions

Expert Solution

Cash
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $58,791 01-May-20XX Rent Expense- Selling Space $2,968
05-May-20XX Accounts Receivable $4,459 01-May-20XX Rent Expense- Office Space $742
09-May-20XX Store Supplies $350 08-May-20XX Accounts Payable $6,174
11-May-20XX Accounts Receivable $5,978 15-May-20XX Sales Salaries $5,320
15-May-20XX Sales $59,220 15-May-20XX Office Salaries $3,150
30-May-20XX Accounts Receivable $6,713 19-May-20XX Accounts Payable $8,624
31-May-20XX Sales $66,052 23-May-20XX Accounts Payable $13,377
26-May-20XX Utilities Expense $1,283
29-May-20XX Jenni Colo Withdrawals $7,000
30-May-20XX Sales Salaries Expense $5,320
30-May-20XX Office Salaries Expense $3,150
31-May-20XX Ending Balance $144,455
$201,563 $201,563
Accounts Receivable
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $18,495 02-May-20XX Sales Returns and allowances $175
02-May-20XX Sales Revenue $61,000 05-May-20XX Cash $4,459
16-May-20XX Sales Revenue $3,990 05-May-20XX Sales Discount $91
22-May-20XX Sales Revenue $6,850 11-May-20XX Cash $5,978
26-May-20XX Sales Revenue $14,210 11-May-20XX Sales Discount $122
30-May-20XX Cash $6,713
30-May-20XX Sales Discount $137
31-May-20XX Ending Balance $86,870
$104,545 $104,545
Merchandise Inventories
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $85,221 02-May-20XX Cost of Goods Sold $4,100
04-May-20XX Accounts Payable $37,072 03-May-20XX Accounts Payable $798
11-May-20XX Accounts Payable $8,800 08-May-20XX Accounts Payable $126
17-May-20XX Accounts Payable $13,650 15-May-20XX Cost of Goods Sold $38,200
24-May-20XX Accounts Payable $8,120 16-May-20XX Cost of Goods Sold $1,890
25-May-20XX Accounts Payable $3,080 19-May-20XX Accounts Payable $176
23-May-20XX Accounts Payable $273
26-May-20XX Cost of Goods Sold $8,230
31-May-20XX Cost of Goods Sold $42,500
31-May-20XX Ending Balance $59,650
$155,943 $155,943
Office Supplies
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $2,250 31-May-20XX Office Supplies Expense $504
04-May-20XX Accounts Payable $83
24-May-20XX Accounts Payable $280 31-May-20XX Ending Balance $2,109
$2,613 $2,613
Store Supplies
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $885 09-May-20XX Cash $350
04-May-20XX Accounts Payable $574 31-May-20XX Store Supplies Expense $2,632
24-May-20XX Accounts Payable $630 31-May-20XX Ending Balance
31-May-20XX Ending Balance $893
$2,982 $2,982
Prepaid Insurance
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $1,659 01-May-20XX Insurance Expense $553
31-May-20XX Ending Balance $1,106
$1,659 $1,659
Office Equipment
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $2,500 12-May-20XX Accounts Payable $854
10-May-20XX Accounts Payable $4,074
31-May-20XX Ending Balance $5,720
$6,574 $6,574
Accumulated Depreciation - Office Equip.
Date Particulars Amount Date Particulars Amount
01-May-20XX Opening Balance $658
31-May-20XX Depreciation Expense- Office Equipment $329
31-May-20XX Ending Balance $987
$987 $987
Accounts Payable
Date Particulars Amount Date Particulars Amount
03-May-20XX Merchandise Inventory $798 01-May-20XX Opening Balance $50,921
08-May-20XX Merchandise Inventory $126 04-May-20XX Merchandise Inventory $37,072
08-May-20XX Cash $6,174 04-May-20XX Store Supplies $574
12-May-20XX Office Equipment $854 04-May-20XX Office Supplies $83
19-May-20XX Merchandise Inventory $176 10-May-20XX Office Equipment $4,074
19-May-20XX Cash $8,624 11-May-20XX Merchandise Inventory $8,800
23-May-20XX Merchandise Inventory $273 17-May-20XX Merchandise Inventory $13,650
23-May-20XX Cash $13,377 24-May-20XX Merchandise Inventory $8,120
24-May-20XX Store Supplies $630
24-May-20XX Office Supplies $280
31-May-20XX Ending Balance $96,882 25-May-20XX Merchandise Inventory $3,080
$127,284 $127,284
J. Spark, Capital
Date Particulars Amount Date Particulars Amount
31-May-20XX J. Spark, Withdrawals $7,000 01-May-20XX Opening Balance $132,534
31-May-20XX Ending Balance $125,534
$132,534 $132,534
J. Spark, Withdrawals
Date Particulars Amount Date Particulars Amount
29-May-20XX Cash $7,000 31-May-20XX J. Spark, Capital $7,000
$7,000 $7,000
Sales Discounts
Date Particulars Amount Date Particulars Amount
05-May-20XX Accounts Receivable $91
11-May-20XX Accounts Receivable $122
30-May-20XX Accounts Receivable $137 31-May-20XX Ending Balance $350
$350 $350
Cost of Goods Sold
Date Particulars Amount Date Particulars Amount
02-May-20XX Merchandise Inventories $4,100
15-May-20XX Merchandise Inventories $38,200
16-May-20XX Merchandise Inventories $1,890
26-May-20XX Merchandise Inventories $8,230 31-May-20XX Ending Balance $94,920
31-May-20XX Merchandise Inventories $42,500
$94,920 $94,920
Depreciation Expense
Date Particulars Amount Date Particulars Amount
31-May-20XX Accumulated Depreciation-Store Equipment $567
31-May-20XX Accumulated Depreciation-Office Equipment $329
31-May-20XX Ending Balance $896
$896 $896
Insurance Expense
Date Particulars Amount Date Particulars Amount
31-May-20XX Prepaid Insurance $553
31-May-20XX Ending Balance $553
$553 $553
Rent expense -Selling space
Date Particulars Amount Date Particulars Amount
01-May-20XX Cash $2,968
31-May-20XX Ending Balance $2,968
$2,968 $2,968
Rent expense -Office space
Date Particulars Amount Date Particulars Amount
01-May-20XX Cash $742
31-May-20XX Ending Balance $742
$742 $742
Sales Returns and allowances
Date Particulars Amount Date Particulars Amount
02-May-20XX Accounts Receivable $175
31-May-20XX Ending Balance $175
$175 $175

ekkarill92 answered 1 year ago
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