Palisade Creek Co. is a merchandising business. The account balances for Palisade Creek Co.as of May 1,2019.

Palisade Creek Co. is a merchandise business. 

Requirements:

1) Journalize the transactions

2) Post the Entries to the T-Accounts

3) Prepare an unadjusted trial balance.

4) Journalize the adjusted Entries

a) Merchandise on May 31st, $5,50,000.00

b) Insurance expired during the year $12,000.00

c ) Store Supplies on hand on May31st, $4,000.00

d) Depreciation for the current year $14,000.00

e) Accrued salaries on May 31st

Sales Salaries Expense $7,000.00

Office Salaries $6,600.00

5) Prepare an adjusted trial balance.

6) Prepare an Income statement.

7) Prepare a statement of owner's equity.

8) Prepare a balance sheet.

9) Prepare a post closing entries.

10) Prepare a post closing trial balance

11) Prepare a Worksheet