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    Quiz FS Merchandising

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    chey dabest
    The document is a trial balance worksheet for Seechua Company as of December 31, 2014. It shows account balances before and after adjustments, with adjusting journal entries made for prepaid advertising, office supplies, salaries payable, and accumulated depreciation. The adjusted trial balance balances and ties to the income statement and balance sheet, with net income of $586,000.

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    Quiz FS Merchandising

    Uploaded by

    chey dabest
    56 views3 pages
    The document is a trial balance worksheet for Seechua Company as of December 31, 2014. It shows account balances before and after adjustments, with adjusting journal entries made for prepaid advertising, office supplies, salaries payable, and accumulated depreciation. The adjusted trial balance balances and ties to the income statement and balance sheet, with net income of $586,000.

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    Answerkey

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    The document is a trial balance worksheet for Seechua Company as of December 31, 2014. It shows account balances before and after adjustments, with adjusting journal entries made for prepaid advertising, office supplies, salaries payable, and accumulated depreciation. The adjusted trial balance balances and ties to the income statement and balance sheet, with net income of $586,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    56 views3 pages

    Quiz FS Merchandising

    Uploaded by

    chey dabest
    The document is a trial balance worksheet for Seechua Company as of December 31, 2014. It shows account balances before and after adjustments, with adjusting journal entries made for prepaid advertising, office supplies, salaries payable, and accumulated depreciation. The adjusted trial balance balances and ties to the income statement and balance sheet, with net income of $586,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 3

    SEECHUA COMPANY

    WORKSHEET
    December 31, 2014
    TRIAL BALANCE ADJUSTMENTS ADJ. TRIAL BALANCE
    ACCOUNT TITLES DEBIT CREDIT DEBIT CREDIT DEBIT
    Cash 72,000 72,000
    Accounts Receivable 136,000 136,000
    Merchandise Inventory 598,000 598,000
    Prepaid Advertising 75,000 25,000 50,000
    Office Supplies 42,000 17,000 25,000
    Land 400,000 400,000
    Office Building 1,600,000 1,600,000
    Acc. Depreciation-Building 100,000 15,000
    Office Equipment 570,000 570,000
    Acc. Depreciation-Office Equip. 150,000 20,000
    Accounts Payable 74,000
    Notes Payable 200,000
    Mortgage Payable 1,100,000
    Seechua, Capital 1,510,000
    Seechua, Withdrawals 200,000 200,000
    Sales 4,600,000
    Sales Returns & Allowances 187,000 187,000
    Sales Discounts 161,000 161,000
    Purchases 2,643,000 2,643,000
    Purchase Returns & Allowances 133,000
    Purchase Discounts 172,000
    Transportation In 72,000 72,000
    Salaries Expense 862,000 21,000 883,000
    Insurance Expense 25,000 25,000
    Travel Expense 188,000 188,000
    Interest Expense 208,000 208,000
    Total 8,039,000 8,039,000
    Office Supplies Expense 17,000 17,000
    Advertising Expense 25,000 25,000
    Salaries Payable 21,000
    Depreciation Expense 35,000 35,000
    TOTAL 98,000 98,000 8,095,000
    NET INCOME
    TOTAL

    ADJUSTING ENTRIES:
    OFFICE SUPPLIES EXPENSE 17,000
    OFFICE SUPPLIES 17,000
    ADVERTISING EXPENSE 25,000
    PREPAID ADVERTISING 25,000

    SALARIES EXPENSE 21,000


    SALARIES PAYABLE 21,000

    DEPRECIATION EXPENSE 35,000


    ACCUMULATED DEPRECIATION-BLDG 15,000
    ACCUMULATED DEPRECIATION-EQUIP 20,000
    NY

    14
    ADJ. TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
    CREDIT DEBIT CREDIT DEBIT CREDIT
    72,000
    136,000
    598,000 723,000 723,000
    50,000
    25,000
    400,000
    1,600,000
    115,000 115,000
    570,000
    170,000 170,000
    74,000 74,000
    200,000 200,000
    1,100,000 1,100,000
    1,510,000 1,510,000
    200,000
    4,600,000 4,600,000
    187,000
    161,000
    2,643,000
    133,000 133,000
    172,000 172,000
    72,000
    883,000
    25,000
    188,000
    208,000

    17,000
    25,000
    21,000 21,000
    35,000
    8,095,000 5,042,000 5,628,000 3,776,000 3,190,000
    586,000 586,000
    5,628,000 5,628,000 3,776,000 3,776,000

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