Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   Adjusting journal entries (https://www.askmehelpdesk.com/showthread.php?t=379154)

  • Jul 23, 2009, 08:30 PM
    kylazamora
    adjusting journal entries
    BELOW IS IN THE TRIAL BALANCE.
    CASH IN BANK=1,263,600
    ACCOUNTS RECEIVABLE= 382,000
    MERCHANDISE INVENTORY=45,000
    STORE SUPPLIES INVENTORY=10000
    PREPAID INTEREST=80,000
    STORE FURNITURE AND FIXTURES=150000
    NOTES PAYABLE=500,000
    ACCOUNTS PAYABLE=305,000
    E. DETOYA CAPITAL=1,045,000
    E. DETOYA DRAWINGS=30000
    SALES=902000
    INSTALLATION INCOME=35,000
    SALES DISCOUTN=5000


    Here's THE PROBLEM. WE ARE ASK FOR A ADJUSTING ENTRIES TO BE PUT IN THE TRIAL BALANCE

    1. Estimated uncollectible accounts is 2% of the outstanding receivable balance.
    2. Store supplies inventory revailed to have a balance of 4,000
    3. After the 80,000 prepaid interest on bank loan 6,670 has expired during the month of Feb.
    4. Furniture and Equipment has unestimated life with 5 years without scrap value.
    5. Unpaid light and water bill for the month of Feb. 18,000

    PLEASE HELP TO ANSWER THIS PROBLEM. TNX.
  • Jul 23, 2009, 09:38 PM
    morgaine300

    See my reply about the homework guidelines.

  • All times are GMT -7. The time now is 09:14 AM.