Accounting for Merchandising Operations Question 1 The following adjusted trial balance is shown below for the year ended December 31st, 2013 for Campbell Distributers Ltd. Cash Accounts receivable Prepaid rent Inventory Accounts payable Salary payable Notes payable Capital Drawing Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Salary expense Rent expense Depreciation expense Supplies expense Total Debit $12,600 2,400 800 28,000 Credit 1,000 $4,200 1,000 800 13,800 96,000 1,600 400 25,000 21,000 14,000 8,500 500 $115,800 $115,800

Accounting for Merchandising Operations Question 1 The following adjusted trial balance is shown below for the year ended December 31st, 2013 for Campbell Distributers Ltd. Cash Accounts receivable Prepaid rent Inventory Accounts payable Salary payable Notes payable Capital Drawing Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Salary expense Rent expense Depreciation expense Supplies expense Total Debit $12,600 2,400 800 28,000 Credit 1,000 $4,200 1,000 800 13,800 96,000 1,600 400 25,000 21,000 14,000 8,500 500 $115,800 $115,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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