Merchandise Inventory Assignment | College Homework Help

Sofia Retail Pocketbook Store Adjusted Trial Balance Dec 31, 2019 Debit Credit Merchandise Inventory $300,000 Uncamned Sales Revenue $58,000 Accumulated Depreciation-Building 125,000 Accounts Receivable 222.000 Rent Expense 98,000 Insurance Expense 23,000 Building 369,000 Withdrawals-Sofia 90,000 Accounts Payable 20.000 Interest Revenue 3,000 Depreciation Expense 27,000 Salary Expense 120,000 Cash 50,000 Note Payable 35,000 Cost of Goods Sold 394,000 Capital Sofia Sales Revenue 825,000 Prepaid Insurance 591,000 13,000 Service Revenue 49,000 Totals S1,706,000 $1,706,000 Problem (L.) From the above prepare the 4 year-end closing journal entries (5 pts. per JE. Total 20 pts.) Problem (IL) From the above prepare: 10pts.) A a list of the Liabilities, no dollars needed-5 pts. B. a list of Assets, no dollars needed – 5 pts.Get Accounting homework help today