Palisade Creek Co. is a merchandising business. The account balances for Palisade Creek Co. as of May 1, 2016 (unless otherwise indicated), are as follows: 110 Cash $83,600 112 Accounts Receivable 006'EEZ 115 Merchandise Inventory 624,400 116 Estimated Returns Inventory 000'8 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-Store Equipment 56,700 210 Accounts Payable 009'96 211 Salaries Payable 212 Customers Refunds Payable 000'os 310 Lynn Tolley, Capital, June 1, 2015 685,300 311 Lynn Tolley, Drawing 000'SET 312 Income Summary 410 Sales 000'690's 510 Cost of Merchandise Sold 2,823,000 520 Sales Salaries Expense 664,800 521 Advertising Expense 000'182 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 009'ZI 530 Office Salaries Expense 382,100 531 Rent Expense 83,700 532 Insurance Expense 539 Miscellaneous Administrative Expense 008'L Part 1: Using the attached spreadsheet. enter the halances

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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I need a help for " post_closing trial Balance"

R
%24
3
Solution (2).pdf
A Read aloud I Draw
F
Highlight v
Erase
-
Part 1 and Part 2:
Palisade Creek Co. is a merchandising business. The account balances for Palisade Creek Co. as of May 1, 2016
(unless otherwise indicated), are as follows:
110 Cash
009'88$
112 Accounts Receivable
233,900
115 Merchandise Inventory
624,400
116 Estimated Returns Inventory
117 Prepaid Insurance
16,800
118 Store Supplies
11,400
123 Store Equipment
569,500
124 Accumulated Depreciation-Store Equipment
56,700
210 Accounts Payable
009'96
211 Salaries Payable
212 Customers Refunds Payable
000'os
310 Lynn Tolley, Capital, June 1, 2015
685,300
311 Lynn Tolley, Drawing
000s,
312 Income Summary
410 Sales
000'690's
510 Cost of Merchandise Sold
2,823,000
520 Sales Salaries Expense
008't99
521 Advertising Expense
000ʻ1
522 Depreciation Expense
523 Store Supplies Expense
529 Miscellaneous Selling Expense
12,600
530 Office Salaries Expense
382,100
531 Rent Expense
83,700
532 Insurance Expense
539 Miscellaneous Administrative Expense
008'L
Part 1: Using the attached spreadsheet, enter the balances of each of the accounts in the appropriate balance column
of a four-column account. Write Balance in the item section, and place a check mark (V) in the Posting Reference
column. Journalize the transactions for May, the last month of the fiscal year, below.
Type here to search
a
HEWLETT-PACKARD
81
114
&
Transcribed Image Text:R %24 3 Solution (2).pdf A Read aloud I Draw F Highlight v Erase - Part 1 and Part 2: Palisade Creek Co. is a merchandising business. The account balances for Palisade Creek Co. as of May 1, 2016 (unless otherwise indicated), are as follows: 110 Cash 009'88$ 112 Accounts Receivable 233,900 115 Merchandise Inventory 624,400 116 Estimated Returns Inventory 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-Store Equipment 56,700 210 Accounts Payable 009'96 211 Salaries Payable 212 Customers Refunds Payable 000'os 310 Lynn Tolley, Capital, June 1, 2015 685,300 311 Lynn Tolley, Drawing 000s, 312 Income Summary 410 Sales 000'690's 510 Cost of Merchandise Sold 2,823,000 520 Sales Salaries Expense 008't99 521 Advertising Expense 000ʻ1 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 12,600 530 Office Salaries Expense 382,100 531 Rent Expense 83,700 532 Insurance Expense 539 Miscellaneous Administrative Expense 008'L Part 1: Using the attached spreadsheet, enter the balances of each of the accounts in the appropriate balance column of a four-column account. Write Balance in the item section, and place a check mark (V) in the Posting Reference column. Journalize the transactions for May, the last month of the fiscal year, below. Type here to search a HEWLETT-PACKARD 81 114 &
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