The trial balance of Hadden Company as of December 31, the end of its current fiscal year, is as follows:   Hadden Company ADJUSTED TRIAL BALANCE December 31, 20--     ACCOUNT TITLE DEBIT CREDIT 1 Cash 9,246.52   2 Merchandise Inventory 63,674.80   3 Supplies 1,466.34   4 Prepaid Insurance 1,420.00   5 Store Equipment 36,230.00   6 Accumulated Depreciation, Store Equipment   22,726.00 7 Accounts Payable   13,196.96 8 Sales Tax Payable   1,236.98 9 R. M. Hadden, Capital   56,339.32 10 R. M. Hadden, Drawing 28,000.00   11 Sales   175,864.31 12 Sales Returns and Allowances 1,573.72   13 Purchases 77,300.04   14 Purchase Returns and Allowances   1,744.32 15 Purchases Discounts   1,413.62 16 Freight-in 2,427.00   17 Salary Expense 35,458.85   18 Rent Expense 14,600.00   19 Miscellaneous Expenses 1,124.24   20 Totals 272,521.51 272,521.51         Here are the data for the adjustments. a-b.  Merchandise Inventory at December 31, $64,742.80. c.  Store supplies inventory (on hand), $420.20. d.  Insurance expired, $738. e.  Salaries accrued, $684.50. f.  Depreciation of store equipment, $3,620.     Required:   Complete the work sheet after entering the account names and balances onto the work sheet.

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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The trial balance of Hadden Company as of December 31, the end of its current fiscal year, is as follows:
 
Hadden Company
ADJUSTED TRIAL BALANCE
December 31, 20--
 
  ACCOUNT TITLE DEBIT CREDIT
1
Cash
9,246.52
 
2
Merchandise Inventory
63,674.80
 
3
Supplies
1,466.34
 
4
Prepaid Insurance
1,420.00
 
5
Store Equipment
36,230.00
 
6
Accumulated Depreciation, Store Equipment
 
22,726.00
7
Accounts Payable
 
13,196.96
8
Sales Tax Payable
 
1,236.98
9
R. M. Hadden, Capital
 
56,339.32
10
R. M. Hadden, Drawing
28,000.00
 
11
Sales
 
175,864.31
12
Sales Returns and Allowances
1,573.72
 
13
Purchases
77,300.04
 
14
Purchase Returns and Allowances
 
1,744.32
15
Purchases Discounts
 
1,413.62
16
Freight-in
2,427.00
 
17
Salary Expense
35,458.85
 
18
Rent Expense
14,600.00
 
19
Miscellaneous Expenses
1,124.24
 
20
Totals
272,521.51
272,521.51
 
 
 
  Here are the data for the adjustments.
a-b.  Merchandise Inventory at December 31, $64,742.80.
c.  Store supplies inventory (on hand), $420.20.
d.  Insurance expired, $738.
e.  Salaries accrued, $684.50.
f.  Depreciation of store equipment, $3,620.
 
  Required:
  Complete the work sheet after entering the account names and balances onto the work sheet.
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