An Adjusted Trial Balance for a Merchandiser Is Given Below

question 209

Essay

An adjusted trial balance for a merchandiser is given below.
$$\begin{array} { | l | r | r | } \hline & { \text { Debit } } &{ \text { Credit } } \\\hline \text { Cash } & \$ 12,600 & \\\hline \text { Accounts Receivable } & 2,400 & \\\hline \text { Prepaid Rent } & 800 & \\\hline \text { Merchandise Inventory } & 30,000 & \\\hline \text { Salaries Payable } & & \$ 4,200 \\\hline \text { Notes Payable } & & 1,000 \\\hline \text { Common Stock } & & 800 \\\hline \text { Retained Earnings } & & 3,800 \\\hline \text { Dividends } &1,000 & \\\hline \text { Sales Revenue } & & 96,000\\\hline \text { Sales Discounts Forfeited } & & 400\\\hline \text { Cost of Goods Sold } & 23,000& \\\hline \text { Insurance Expense } & 2,400 & \\\hline\text { Salaries Expense }&21,000\\ \hline \text { Rent Expense } &14,000& \\\hline \text { Selling Expense } &8,500 & \\\hline\text { Supplies Expense }&\underline { 500 } \\\hline \text { Total } & \underline { 116,200 } & \underline { 116,200 } \\\hline\end{array}$$ Prepare the journal entry to close the revenue and other income accounts. Omit explanation.

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Definitions:

Puberty

Series of events that transform a child into a sexually mature adult; involves an increase in the secretion of GnRH.

Adolescence

The phase of life between childhood and adulthood, characterized by physical, psychological, and social changes.

Childhood

The period in a human's life following infancy and preceding adolescence, characterized by growth, development, and significant cognitive, emotional, and social changes.

Pronuclei

The haploid nuclei of the egg and sperm that come together but do not fuse immediately during the fertilization process.