Problem 3-10
Presented below is the December 31 trial balance of New YorkBoutique.
NEW YORK BOUTIQUETRIAL BALANCEDECEMBER 31
Debit
Credit
Cash
$18,500
Accounts Receivable
32,000
Allowance for Doubtful Accounts
$700
Inventory, December 31
80,000
Prepaid Insurance
5,100
Equipment
84,000
Accumulated Depreciation—Equipment
35,000
Notes Payable
28,000
Common Stock
80,600
Retained Earnings
10,000
Sales Revenue
600,000
Cost of Goods Sold
408,000
Salaries and Wages Expense (sales)
50,000
Advertising Expense
6,700
Salaries and Wages Expense (administrative)
65,000
Supplies Expense
5,000
$754,300
$754,300
question 1: post to the T accounts
question 2: post closing entries
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
