Essay
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
Correct Answer:
Verified
Q82: The Income Summary account is used to
Q83: Recording the adjustment for supplies will<br>A) increase
Q84: What financial statement shows the amount for
Q85: The term used when the physical inventory
Q86: The trial balance columns on the worksheet
Q88: From the following items, which would most
Q89: The physical inventory count is not needed
Q90: Under the accrual system, expenses are recorded
Q91: Merchandise Inventory would be found on the
Q92: Indicate the normal balance of each of