[gordondmoore]

Prepare an adjusted trial balance for shiras distributing

[gordondmoore]

I need to do the adjusments. Plus I have
Adjustment data:
1. Accrued salaries payable $790.
2. Depreciation $230 per month.
3. Supplies on hand $1,620.

[pready]

Not enough information to do this.

[gordondmoore]

Dec. 6 Paid $1,920 for salaries and wages due employees, of which $830 is for December and $1,090 is for November salaries and wages payable.
8 Received $1,900 cash from customers in payment of account (no discount allowed).
10 Sold merchandise for cash $6,570. The cost of the merchandise sold was $3,960.
13 Purchased merchandise on account from Gong Co. $8,800, terms 2/10, n/30.
15 Purchased supplies for cash $1,610.
18 Sold merchandise on account $12,800, terms 3/10, n/30. The cost of the merchandise sold was $8,120.
20 Paid salaries $1,650.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from customers billed on December 18.

Adjustment data:
1. Accrued salaries payable $790.
2. Depreciation $230 per month.
3. Supplies on hand $1,620.

[gordondmoore]

Not enough information to do this.

Dec. 6 Paid $1,920 for salaries and wages due employees, of which $830 is for December and $1,090 is for November salaries and wages payable.
8 Received $1,900 cash from customers in payment of account (no discount allowed).
10 Sold merchandise for cash $6,570. The cost of the merchandise sold was $3,960.
13 Purchased merchandise on account from Gong Co. $8,800, terms 2/10, n/30.
15 Purchased supplies for cash $1,610.
18 Sold merchandise on account $12,800, terms 3/10, n/30. The cost of the merchandise sold was $8,120.
20 Paid salaries $1,650.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from customers billed on December 18.

Adjustment data:
1. Accrued salaries payable $790.
2. Depreciation $230 per month.
3. Supplies on hand $1,620.

[pready]

1. Your accounts are Salaries Expense and Salaries Payable for the amount.

2. You have to calculate the total amount of depreciation at $230 times number of months in the problem. Your accounts will be Depreciation Expense and Accumulated Depreciation.

3. You have to calculate the difference between what is in your Supplies account from your trial balance and supplies onhand. This is the amount of your adjusting entry. Your accounts will be Supplies Expense and Supplies.

[N0help4u]

Duplicate post to one already replied to

[pready]

This has been answered in another post.

[pready]

This has been answered in another post.

[N0help4u]

Posted in triplicate.

[gordondmoore]

What about these Adjustment how do I enter them.
Accrued salaries payable $800
Depreciation $200 per month
Supplies on hand $200 per month
Income tax due and unpaid at December 31 is $200

[gordondmoore]

Journal entry for the following
Dec. 6 Paid $1,920 for salaries and wages due employees, of which $830 is for December and $1,090 is for November salaries and wages payable.
8 Received $1,900 cash from customers in payment of account (no discount allowed).
10 Sold merchandise for cash $6,570. The cost of the merchandise sold was $3,960.
13 Purchased merchandise on account from Gong Co. $8,800, terms 2/10, n/30.
15 Purchased supplies for cash $1,610.
18 Sold merchandise on account $12,800, terms 3/10, n/30. The cost of the merchandise sold was $8,120.
20 Paid salaries $1,650.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from customers billed on December 18.

Adjustment data for December 31, 2012 adjusting entries:

Accrued salaries payable $800
Depreciation $200 per month
Supplies on hand $200 per month
Income tax due and unpaid at December 31 is $200

[gordondmoore]

1. Your accounts are Salaries Expense and Salaries Payable for the amount.

2. You have to calculate the total amount of depreciation at $230 times number of months in the problem. Your accounts will be Depreciation Expense and Accumulated Depreciation.

3. You have to calculate the difference between what is in your Supplies account from your trial balance and supplies onhand. This is the amount of your adjusting entry. Your accounts will be Supplies Expense and Supplies.

OK so which post was this all in

[gordondmoore]

Where is this posted the question I asked so I can see where my answers are correct or wrong.

[gordondmoore]

How do I do this for shiras distributing company.
c) Journalize adjusting entries and post to the T-accounts.
(d) Prepare an adjusted trial balance.
(e) Prepare an Income Statement and Owner's Equity Statement for December and a Classified Balance Sheet at December 31.

[gordondmoore]

Journalize the December transactions using the perpetual inventory system.
Using a trial balance post the transactions to the December 1, 2012 trial balance in order to arrive at an unadjusted December 31, 2012 trial balance.
Then journalize December 31, 2012 adjusting journal entries.
Instructions
(a) Journalize the December transactions using a perpetual inventory system.
(b) Enter the December 1, 2012 balances from the trial balance into to T-accounts and post the December transactions to the T-accounts. Use the template provided. In addition to the accounts in the trial balance, the company also uses: Cost of Goods Sold; Depreciation Expense; Salaries & Wages Expense; Sales Revenue; Sales Discounts; and Supplies.
(c) Journalize adjusting entries and post to the T-accounts.
(d) Prepare an adjusted trial balance.
(e) Prepare an Income Statement and Owner’s Equity Statement for December and a Classified Balance Sheet at December 31.

[gordondmoore]

On December 1, 2012, Shiras Distributing Company had the following account balances.
Debits Credits
Cash $7,600 Accumulated Depreciation—Equipment $2,530
Accounts Receivable 4,810 Accounts Payable 4,700
Inventory 12,420 Salaries and Wages Payable 1,090
Supplies 1,480 Owner’s Capital 43,290
Equipment 25,300
$51,610 $51,610

During December, the company completed the following summary transactions.
Dec. 6 Paid $1,920 for salaries and wages due employees, of which $830 is for December and $1,090 is for November salaries and wages payable.
8 Received $1,900 cash from customers in payment of account (no discount allowed).
10 Sold merchandise for cash $6,570. The cost of the merchandise sold was $3,960.
13 Purchased merchandise on account from Gong Co. $8,800, terms 2/10, n/30.
15 Purchased supplies for cash $1,610.
18 Sold merchandise on account $12,800, terms 3/10, n/30. The cost of the merchandise sold was $8,120.
20 Paid salaries $1,650.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from customers billed on December 18.

Adjustment data for December 31, 2012 adjusting entries:

Accrued salaries payable $800
Depreciation $200 per month
Supplies on hand $200 per month
Income tax due and unpaid at December 31 is $200
Instructions:

Journalize the December transactions using the perpetual inventory system.
Using a trial balance post the transactions to the December 1, 2012 trial balance in order to arrive at an unadjusted December 31, 2012 trial balance.
Then journalize December 31, 2012 adjusting journal entries.
Instructions
(a) Journalize the December transactions using a perpetual inventory system.
(b) Enter the December 1, 2012 balances from the trial balance into to T-accounts and post the December transactions to the T-accounts. Use the template provided. In addition to the accounts in the trial balance, the company also uses: Cost of Goods Sold; Depreciation Expense; Salaries & Wages Expense; Sales Revenue; Sales Discounts; and Supplies.

[gordondmoore]

My numbers are wrong when it coming to posting and doing the t accounts

[N0help4u]

One thing - you don't post same question 5 times

[gordondmoore]

Dec. 6 Paid $1,920 for salaries and wages due employees, of which $830 is for December and $1,090 is for November salaries and wages payable.
8 Received $1,900 cash from customers in payment of account (no discount allowed).
10 Sold merchandise for cash $6,570. The cost of the merchandise sold was $3,960.
13 Purchased merchandise on account from Gong Co. $8,800, terms 2/10, n/30.
15 Purchased supplies for cash $1,610.
18 Sold merchandise on account $12,800, terms 3/10, n/30. The cost of the merchandise sold was $8,120.
20 Paid salaries $1,650.
23 Paid Gong Co. in full, less discount.
27 Received collections in full, less discounts, from customers billed on December 18.

Adjustment data for December 31, 2012 adjusting entries:

Accrued salaries payable $800
Depreciation $200 per month
Supplies on hand $200 per month
Income tax due and unpaid at December 31 is $200
Instructions:

Journalize the December transactions using the perpetual inventory system.
Using a trial balance post the transactions to the December 1, 2012 trial balance in order to arrive at an unadjusted December 31, 2012 trial balance.
Then journalize December 31, 2012 adjusting journal entries.
Instructions
(a) Journalize the December transactions using a perpetual inventory system.
(b) Enter the December 1, 2012 balances from the trial balance into to T-accounts and post the December transactions to the T-accounts. Use the template provided. In addition to the accounts in the trial balance, the company also uses: Cost of Goods Sold; Depreciation Expense; Salaries & Wages Expense; Sales Revenue; Sales Discounts; and Supplies.
(c) Journalize adjusting entries and post to the T-accounts.
(d) Prepare an adjusted trial balance.
(e) Prepare an Income Statement and Owner’s Equity Statement for December and a Classified Balance Sheet at December 31.