Presented below are selected accounts for B. Midler Company as reported in the worksheet at the end of May 2014. Ending inventory is $75,000.
|
Accounts |
Adjusted |
Income |
Balance Sheet |
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|
Cash |
9,000 |
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|
Inventory |
80,000 |
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|
Purchases |
240,000 |
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|
Purchase Returns and Allowances |
30,000 |
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|
Sales Revenue |
450,000 |
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|
Sales Returns and |
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|
Allowances |
10,000 |
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|
Sales Discounts |
5,000 |
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|
Rent Expense |
42,000 |
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Instructions
Complete the worksheet by extending amounts reported in the adjustment trial balance to the appropriate columns in the worksheet. The company uses the periodic inventory system.