TRUDEL ELECTRONICS COMPANY Unadjusted Trial Balance March 31, 2018 Balance Account Title Debit Credit Cash $ 4,000 Accounts Receivable 38,800 Merchandise Inventory 45,500 Office Supplies 6,500 Equipment 130,000 Accumulated Depreciation-Equipment $ 36,800 Accounts Payable 17,400 Unearned Revenue 13,200 Notes Payable, long-term 48,000 Common Stock 60,000 Retained Earnings 100 Dividends 20,000 Sales Revenue 282,500 Cost of Goods Sold 160,600 Salaries Expense (Selling) 20,000 Rent Expense (Selling) 15,800 Salaries Expense (Administrative) 5,700 Utilities Expense (Administrative) 11,100 Total $ 458,000 $ 458,000
Assume the perpetual inventory system is used unless stated otherwise. Round all numbers to the nearest whole dollar unless stated otherwise.
Journalizing
The unadjusted trial balance for Trudel Electronics Company at March 31, 2018, follows:
Requirements
- Journalize the adjusting entries using the following data:
a. Interest revenue accrued, $200.
b. Salaries (Selling) accrued, $2,300.
c.
d. Interest expense accrued, $1,500.
e. A physical count of inventory was completed. The ending Merchandise Inventory should have a balance of $45,200.
f. Trudel estimates that approximately 36,000 of merchandise sold will be returned with a cost of $1,200.
2. Prepare Trudel Electronies’s adjusted trial balance as of March 31,2018.
3. Prepare Trudel Electronies’s multi-step income statement for year ended March 31, 2018.
![TRUDEL ELECTRONICS COMPANY
Unadjusted Trial Balance
March 31, 2018
Balance
Account Title
Debit
Credit
Cash
$ 4,000
Accounts Receivable
38,800
Merchandise Inventory
45,500
Office Supplies
6,500
Equipment
130,000
Accumulated Depreciation-Equipment
$ 36,800
Accounts Payable
17,400
Unearned Revenue
13,200
Notes Payable, long-term
48,000
Common Stock
60,000
Retained Earnings
100
Dividends
20,000
Sales Revenue
282,500
Cost of Goods Sold
160,600
Salaries Expense (Selling)
20,000
Rent Expense (Selling)
15,800
Salaries Expense (Administrative)
5,700
Utilities Expense (Administrative)
11,100
Total
$ 458,000
$ 458,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F625dceae-9e0c-43be-90e3-0d45f38734a6%2F66d73077-b2de-45c9-8b7c-310fa7483819%2Fwdf3t7.png&w=3840&q=75)
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