Use the following information to complete the partial worksheet for Pamela's Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns.
Merchandise Inventory - physical count $30
Store supplies on hand 6
Depreciation on store equipment 4
Accrued salaries 2
| pamela`s company partial worksheet for the year ended december 31, 2020 | ||||||
| account titles | trial balance | adjustments | adjusted trial balance | |||
| debit | credit | debit | credit | debit | credit | |
| merchandise inv. | 32 | |||||
| store supplies | 20 | |||||
| strore equipment | 40 | |||||
| accun. depn. store equip. | 12 | |||||
| salaries payable | ||||||
| salary expense | 20 | |||||
| cost of goods sold | 18 | |||||
| depreciation expense | ||||||
| store supplies exp. | ||||||
Correct Answer:
Verified
Q69: Adjustments are journalized before recording them in
Q111: Discuss the reasons a company would consider
Q118: Since adjustments are listed on the worksheet,
Q119: The trial balance columns on the worksheet
Q120: Merchandise Inventory would be found on the
Q121: To record the adjustment for supplies on
Q122: The Prepaid Asset and Cost of Goods
Q125: The Merchandise Inventory is found on the
Q126: Net income is added to the worksheet
Q127: Use the following information to complete the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents