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Journalize

Journalize

FINANCIAL ACCOUNTING
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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Journalize Adjusting Entries for a Merchandising Business The following partial spreadsheet is taken from the books of Vinnie's Vegetable Market, for the year ended December 31, 20--. Vinnie's Vegetable Market End-of-Period Spreadsheet (Partial) For Year Ended December 31, 20-- TRIAL BALANCE ADJUSTMENTS ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Merchandise Inventory 45,000.00 (b) 50,000.00 (a) 45,000.00 Supplies Building 10,000.00 (d) 7,000.00 60,000.00 Accum. Depr.-Building 15,000.00 (e) 5,000.00 Wages Payable () 1,200.00 (c) 2,000.00 Unearned Membership Fees Income Summary 3,000.00 (a) 45,000.00 (b) 50,000.00 Membership Fees 20,000.00 (c) 2,000.00 Wages Expense 37,000.00 (f) 1,200.00 Supplies Expense (d) 7,000.00 Depr. Expense-Building (e) 5,000.00 110,200.00 110,200.00 Journalize the adjustments in a general journal. Page: 1 DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 2 3 4 Dec. 31 5 6. 6. 7 Dec. 31 7 8. 8. 9. 9. 10 Dec. 31 10 11 11 12 12 13 Dec. 31 13 14 14 15 15 16 Dec. 31 16 17 17 18 18
Transcribed Image Text:Journalize Adjusting Entries for a Merchandising Business The following partial spreadsheet is taken from the books of Vinnie's Vegetable Market, for the year ended December 31, 20--. Vinnie's Vegetable Market End-of-Period Spreadsheet (Partial) For Year Ended December 31, 20-- TRIAL BALANCE ADJUSTMENTS ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT Merchandise Inventory 45,000.00 (b) 50,000.00 (a) 45,000.00 Supplies Building 10,000.00 (d) 7,000.00 60,000.00 Accum. Depr.-Building 15,000.00 (e) 5,000.00 Wages Payable () 1,200.00 (c) 2,000.00 Unearned Membership Fees Income Summary 3,000.00 (a) 45,000.00 (b) 50,000.00 Membership Fees 20,000.00 (c) 2,000.00 Wages Expense 37,000.00 (f) 1,200.00 Supplies Expense (d) 7,000.00 Depr. Expense-Building (e) 5,000.00 110,200.00 110,200.00 Journalize the adjustments in a general journal. Page: 1 DOC. POST. NO. REF. DATE ACCOUNT TITLE DEBIT CREDIT 20-- 1 Dec. 31 2 3 4 Dec. 31 5 6. 6. 7 Dec. 31 7 8. 8. 9. 9. 10 Dec. 31 10 11 11 12 12 13 Dec. 31 13 14 14 15 15 16 Dec. 31 16 17 17 18 18
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