The trial balance of Save Mart Wholesale Company

contained the a
The trial balance of Save-Mart Wholesale Company contained the accounts shown at
December 31, the end of the company’s fiscal year.Adjustment data:1. Depreciation is $12,000
on buildings and $9,000 on equipment. (Both are operating expenses.)2. Interest of $4,500 is
due and unpaid on notes payable at December 31.3. Income tax due and unpaid at December
31 is $20,000.Other data: $15,000 of the notes payable are payable next year.Instructions(a)
Journalize the adjusting entries.(b) Create T accounts for all accounts used in part (a). Enter the
trial balance amounts into the T accounts and post the adjusting entries.(c) Prepare an adjusted
trial balance.(d) Prepare a multiple-step income statement and a retained earnings statement
for the year, and a classified balance sheet at December 31,2010.
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The trial balance of Save Mart Wholesale Company contained the a
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