11A-2

Purchases Discount Sales Returns and Allowances Beg. Merchandise Inventory, Jan. 1, 201X Purchases Returns and Allowances Sales Discount 780 47 340 83 85 11A-2. From the trial balance in Figure 11.11, complete a worksheet for Jim's Hardware. Assume the following a/b. Ending inventory on December 31 is calculated at $340. c. Insurance expired, $110. d. Depreciation on store equipment, $70. e. Accrued wages, $80 IM'S HARDWARE TRIAL BALANCE DECEMBER 31, 201X Balance Account Dr 79100 12 5 2 0o 6000 666 00 2190 00 Cr Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable Jim Spool, Capital Income Summary Hardware Sales Hardware Sales Returns and Allowances Hardware Sales Discount Purchases 63 000 48500 1608 00 11 6 1000 89 100 168 00 9000 Purchases Returns and Allowances Wages Expense Rent Expense Telephone Expense Miscellaneous Expense 170 8 00 79 200 14900 8000 Totals 4 5 9 1 00 14 5 9 100 Purchases Discount Sales Returns and Allowances Beg. Merchandise Inventory, Jan. 1, 201X Purchases Returns and Allowances Sales Discount 780 47 340 83 85 11A-2. From the trial balance in Figure 11.11, complete a worksheet for Jim's Hardware. Assume the following a/b. Ending inventory on December 31 is calculated at $340. c. Insurance expired, $110. d. Depreciation on store equipment, $70. e. Accrued wages, $80 IM'S HARDWARE TRIAL BALANCE DECEMBER 31, 201X Balance Account Dr 79100 12 5 2 0o 6000 666 00 2190 00 Cr Cash Accounts Receivable Merchandise Inventory Prepaid Insurance Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable Jim Spool, Capital Income Summary Hardware Sales Hardware Sales Returns and Allowances Hardware Sales Discount Purchases 63 000 48500 1608 00 11 6 1000 89 100 168 00 9000 Purchases Returns and Allowances Wages Expense Rent Expense Telephone Expense Miscellaneous Expense 170 8 00 79 200 14900 8000 Totals 4 5 9 1 00 14 5 9 100