Palisade Creek Co.

ADJUSTED TRIAL BALANCE

May 31, 2019

	ACCOUNT TITLE	DEBIT	CREDIT
1	Cash	84500
2	Accounts Receivable	245875
3	Merchandise Inventory	570000
4	Estimated Returns Inventory	50200
5	Prepaid Insurance	4800
6	Store Supplies	4000
7	Store Equipment	569500
8	Accumulated Depreciation-Store Equipment		70700
9	Accounts Payable		63150
10	Customers Refunds Payable		89270
11	Salaries Payable		13600
12	Lynn Tolley, Capital		685300
13	Lynn Tolley, Drawing	135000
14	Sales		5316205
15	Cost of Merchandise Sold	2991950
16	Sales Salaries Expense	727800
17	Advertising Expense	292000
18	Depreciation Expense	14000
19	Store Supplies Expense	9800
20	Miscellaneous Selling Expense	12600
21	Office Salaries Expense	417700
22	Rent Expense	88700
23	Insurance Expense	12000
24	Miscellaneous Administrative Expense	7800
25	Totals	6238225	6238225

8. Use the adjusted trial balance figures to prepare an income statement, a statement of owners equity, and a balance sheet.

I've already provided the adjusted trial balance up top

Income Statement

Palisade Creek Co.

Income Statement

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Palisade Creek Co.

Statement of Owners Equity

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Palisade Creek Co.

Balance Sheet

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