Save-more wholesale company
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I am having trouble with the adjustment entries and the accounts involved as well as the balance sheet.
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SAVE-MORE WHOLESALE COMPANY
10-Column Worksheet
December 31, 2007
Unadjusted Trial Balance Adjustment Adjusted Trial Balance Income Statement Balance Sheet
Cash $33,400
Accounts Receivable 37,600
Merchandise Inventory 70,000
Land 92,000
Buildings 200,000
Accum Deprec - Buildings $60,000
Equipment 83,500
Accum Deprec - Equipment 40,500
Notes Payable 54,700
Accounts Payable 37,500
Common Stock 160,000
Retained Earnings 68,200
Dividends 10,000
Sales 922,100
Sales Discounts 5,000
Cost of Goods Sold 709,900
Salaries Expense 71,300
Utilities Expense 9,400
Repair Expense 8,900
Gas and Oil Expense 7,200
Insurance Expense 4,800
$1,343,000 $1,343,000
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Solution Summary
The solution explains how to journalize, post, and prepare adjusted trial balance and financial statements
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