I need the general ledger for Palisade Creek Co. for the year of 2016. It reads:

Question

I need the general ledger for Palisade Creek Co. for the year of 2016. It reads: Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co, as of May 1, 2016. Instructions: Enter the balances of each of the accounts in the appropriate balance column of a four-column account. Write in the items section and place a check mark in the Posting Reference column.

Directions

Prepare an unadjusted trial balance.

Prepare an adjusted trial balance.

Prepare An income statement.

A retained earnings statement.

THANKS FOR YOUR HELP!

110 Cash $ 83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 624,400 116 Estimated Returns Inventory 28,000 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-Store Equipment 56,700 210 Accounts Payable 96,600 211 Salaries Payable — 212 Customers Refunds Payable 50,000 310 Common Stock 100,000 311 Retained Earnings 585,300 312 Dividends 135,000 313 Income Summary — 410 Sales 5,069,000 510 Cost of Merchandise Sold 2,823,000 520 Sales Salaries Expense 664,800 521 Advertising Expense 281,000 522 Depreciation Expense — 523 Store Supplies Expense — 529 Miscellaneous Selling Expense 12,600 530 Office Salaries Expense 382,100 531 Rent Expense 83,700 532 Insurance Expense — 539 Miscellaneous Administrative Expense 7,800

Explanation / Answer

Account title Accounts Name Debit Credit 110 Cash 83600 112 Accounst Receivable 233900 115 Merchandise Inventory 624400 116 Estimated Returns Inventory 28000 117 Prepaid Insurance 16800 118 Store Supplies 11400 123 Store equipment 569500 124 Accumulated depreciation-Store equpment 56700 210 Accounts Payable 96600 211 Salaries Payable 0 212 Custmoer Refunds Payable 50000 310 Common Stock 100000 311 Retained Earning 585300 312 Dividends 135000 410 Sales 5069000 510 Cost of merchandised sold 2823000 520 Sales salaries expenses 664800 521 Advertising Expenses 281000 522 Depreciation expenses 523 Store suppliesexpenses 529 Miscalaneous Selling expenses 12600 530 Office salaries expenses 382100 531 Rent Expenses 83700 532 Insurance expenses 0 539 Miscalaneous administratiion expenses 7800 Income Summary 270000 Grand Total 6092600 6092600

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