The adjusted trial balance of Dailey Music Company appears below. Dailey Music C

Question

The adjusted trial balance of Dailey Music Company appears below. Dailey Music Company prepares monthly financial statements and uses the perpetual inventory method. Instructions Complete the worksheet below. DAILEY MUSIC COMPANY Worksheet For the Month Ended April 30, 2013 Income Statement Debit Credit Debit Credit 11,000 21,000 3,500 80,000 Inventory Supplies Equipment Accum. Depreciation- Equipment Accounts Payable Common Stock Retained Earnings Dividend:s Sales Revenue Sales Discounts Cost of Goods Sold Advertising Expense Supplies Expense Depreciation Expense Rent Expense Utilities Expense 15,000 20,000 50,000 42,000 8,000 39,000 2,000 23,000 7,000 6,000 1,000 2,500

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DAILEY MUSIC COMPANY WORKSHEET FOR THE MONTH ENDED APRIL 30,2013 ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 11000 11000 Inventory 21000 21000 Supplies 3500 3500 Equipment 80000 80000 Accumlated dep-equip 15000 15000 Account payable 20000 20000 Common stock 50000 50000 Retained earnings 42000 42000 Dividends 8000 8000 Sales revenue 39000 39000 Sales discount 2000 2000 Cost of goods sold 23000 23000 Advertising exp 7000 7000 Supplies exp 6000 6000 Dep expe 1000 1000 Rent expense 2500 2500 Utilities exp 1000 1000 166000 166000 Net Loss 3500 (3500) Total 42500 42500 123500 123500

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