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The adjusted trial balance of Big Rita's MusicBig Rita's Music Company at June 30, 2015,...

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Question

Accounting

The adjusted trial balance of Big Rita's MusicBig Rita's Music Company at June 30, 2015, follows

Requirements:

1.

 Prepare Big Rita's multi-step income statement for the year ended June 30, 2015.

2.

 Journalize Big Rita's closing entries.

3.

Prepare a post-closing trial balance as of June 30 2015

Big Rita's Music Company

Adjusted Trial Balance

June 30, 2015

Balance

Account Title

Debit

Credit

Cash

$4,500

Accounts Receivable

38,300

Merchandise Inventory

17,200

Office Supplies

300

Furniture

39,900

Accumulated DepreciationFurniture

$8,900

Accounts Payable

13,300

Salaries Payable

600

Unearned Revenue

7,400

Notes Payable, long-term

12,000

Rita, Capital

28,500

Rita, Withdrawals

40,000

Sales Revenue

185,000

Sales Returns and Allowances

2,000

Sales Discounts

4,000

Cost of Goods Sold

74,000

Selling Expense

18,600

Administrative Expense

15,000

Interest Expense

1,900

Total

$255,700

$255,700

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