Accounting – Journalize the adjusting entries using the following data:

| January 31, 2017

Question
Requirements

1. Journalize the adjusting entries using the following data:

a. Internet revenue accrued, $200

b. Salaries (Selling) accrued, $2,700.

c. Depreciation expense-equipment (Administrative), $1,670.

d. Interest expense accrued, $1,200.

e. A physical count of inventory was completed. the ending merchandise inventory should have a balance of $44,500.

2. Prepare Taylor Electronics’ adjusted trial balance as of March 31, 2015.

3. Prepare Taylor Electronics’ Muti-step income statement for year ended March 31, 2015.

4. Prepare Taylor Electronics’ statement of owner’s equity ended March 31, 2015. assume Taylor made no additional contributions during the year.

5. Prepare Taylor Electronics’ classified balance sheet in report form as of March 31, 2015.

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