Solution-Show periodic inventory system

Show periodic inventory system

Reference no: EM13543398

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 Trial Balance		Income Statement	Balance Sheet

Cash	9,000
Inventory	80,000
Purchases	240,000
Purchase Returns and Allowances		30,000
Sales Revenue		450,000
Sales Returns and
Allowances	10,000
Sales Discounts	5,000
Rent Expense	42,000

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.

Reference no: EM13543398

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Show periodic inventory system

Reference no: EM13543398

Reference no: EM13543398

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