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ACCOUNT NAME DEBIT CREDIT CASH ACCOUNTS RECEIVABLE ALLOWANCE FOR DOUBTFUL ACCOUNTS MERCHANDISE INVENTORY SUPPLIES 59,800.00 6,210.00 88,996.00 4,100.00 PREPAID INSURANCE 8,400.00 EQUIPMENT ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE 83,000.00 420.00 7,050.00 18,300.00 SOCIAL SECURITY TAX 702.00 PAYABLE MEDICARE TAX PAYABLE EMPLOYEE INCOME TAX PAYABLE 16200 1,020.00 FEDERAL 512.00 UNEMPLOYMENT TAX PAYABLE STATE 1,268.00 UNEMPLOYMENT TAX PAYABLE SALES TAX PAYABLE TERESA LOVEJOY, CAPITAL TOTALS 17,820.00 203,252.00 $250,506.00 $250,506.00

ACCOUNT NAME DEBIT CREDIT CASH ACCOUNTS RECEIVABLE ALLOWANCE FOR DOUBTFUL ACCOUNTS MERCHANDISE INVENTORY SUPPLIES 59,800.00 6,210.00 88,996.00 4,100.00 PREPAID INSURANCE 8,400.00 EQUIPMENT ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE 83,000.00 420.00 7,050.00 18,300.00 SOCIAL SECURITY TAX 702.00 PAYABLE MEDICARE TAX PAYABLE EMPLOYEE INCOME TAX PAYABLE 16200 1,020.00 FEDERAL 512.00 UNEMPLOYMENT TAX PAYABLE STATE 1,268.00 UNEMPLOYMENT TAX PAYABLE SALES TAX PAYABLE TERESA LOVEJOY, CAPITAL TOTALS 17,820.00 203,252.00 $250,506.00 $250,506.00

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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not use ai please The Fashion Rack has a monthly accounting period. The firm’s chart of accounts is shown below. The journals used to record transactions are the sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Postings are made from the journals to the accounts receivable ledger, accounts payable ledger, and general ledger. The employees are paid at the end of the month. A computerized payroll service prepares all payroll records and checks. INSTRUCTIONS Open the general ledger accounts and enter the balances for October 1, 2019. Obtain the necessary figures from the postclosing trial balance prepared on September 30, 2019, which is shown below. Post-Closing Trial Balance:
ACCOUNT NAME DEBIT CREDIT CASH ACCOUNTS RECEIVABLE ALLOWANCE FOR DOUBTFUL ACCOUNTS MERCHANDISE INVENTORY SUPPLIES 59,800.00 6,210.00 88,996.00 4,100.00 PREPAID INSURANCE 8,400.00 EQUIPMENT ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE 83,000.00 420.00 7,050.00 18,300.00 SOCIAL SECURITY TAX 702.00 PAYABLE MEDICARE TAX PAYABLE EMPLOYEE INCOME TAX PAYABLE 16200 1,020.00 FEDERAL 512.00 UNEMPLOYMENT TAX PAYABLE STATE 1,268.00 UNEMPLOYMENT TAX PAYABLE SALES TAX PAYABLE TERESA LOVEJOY, CAPITAL TOTALS 17,820.00 203,252.00 $250,506.00 $250,506.00
Transcribed Image Text:ACCOUNT NAME DEBIT CREDIT CASH ACCOUNTS RECEIVABLE ALLOWANCE FOR DOUBTFUL ACCOUNTS MERCHANDISE INVENTORY SUPPLIES 59,800.00 6,210.00 88,996.00 4,100.00 PREPAID INSURANCE 8,400.00 EQUIPMENT ACCUMULATED DEPRECIATION ACCOUNTS PAYABLE 83,000.00 420.00 7,050.00 18,300.00 SOCIAL SECURITY TAX 702.00 PAYABLE MEDICARE TAX PAYABLE EMPLOYEE INCOME TAX PAYABLE 16200 1,020.00 FEDERAL 512.00 UNEMPLOYMENT TAX PAYABLE STATE 1,268.00 UNEMPLOYMENT TAX PAYABLE SALES TAX PAYABLE TERESA LOVEJOY, CAPITAL TOTALS 17,820.00 203,252.00 $250,506.00 $250,506.00
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