Use the following information to complete the partial worksheet for Bill’s Company. Record the appropriate adjusting entries using the data below and extend the balances over to the adjusted trial balance columns.
Merchandise inventory—ending $10
Store supplies on hand 3
Depreciation on store equipment 2
Accrued salaries 1
Bill’s Company Partial Worksheet For the Year Ended December 31st, 2012
Account Titles Trial Balance Adjustments AdjustedTrial Balance
Debit Credit Debit Credit Debit Credit Merchandise Inv. 16
Store Supplies 10
Store Equipment 20
Accum. Depr. Store Equip. 6
Salaries Payable
Income Summary
Salary Expense 10
Depreciation Expense
Store Supplies Exp.