Butcher Merchandising Business.pdf

Butcher’s Merchandise Shop Account Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accum. Dep. Equipment Account Payable Unearned Revenue C, Butcher, Capital C. Butcher, Drawings Sales Sales Returns and Allowances Purchases Freight-In Salaries Expense Rent Expense...

Butcher’s Merchandise Shop Account Cash Accounts Receivable Merchandise Inventory Supplies Prepaid Insurance Equipment Accum. Dep. Equipment Account Payable Unearned Revenue C, Butcher, Capital C. Butcher, Drawings Sales Sales Returns and Allowances Purchases Freight-In Salaries Expense Rent Expense Miscellaneous Expense Utilities Expense Trial balance Debit Credit 39,450 37,730 88,900 3,800 4,800 125,500 25,500 38,950 50,000 111,350 24,000 475,250 4,690 212,340 10,400 64,600 48,000 32,910 3,930 701,050.00 701,050.00 1. The following is additional information for Butcher Merchandise Shop. a) b) c) d) Closing inventory of merchandise is $79,800. Closing inventory of supplies is $550 Unexpired insurance at year end is $2400 Equipment is depreciated using the declining balance method at a 5% rate.