Please help It would be greatly appreciated On December 1 20

Please help! It would be greatly appreciated!

On December 1, 2017, Wildhorse Co. had the account balances shown below Debits Cash Accounts Receivable Inventory (3,100 x $0.60 Equipment Credits $4,580 Accumulated Depreciation-Equipment $1,490 3,240 10,900 17,630 $33,260 4,020 Accounts Payable 1,860 Common Stock 22,800 Retained Earnings $33,260 The following transactions occurred during December. Dec. 3 Purchased 4,100 units of inventory on account at a cost of $0.67 per unit. 5 Sold 4,500 units of inventory on account for $0.90 per unit. (It sold 3,100 of the $0.60 units and 1,400 of the $0.67.) 7 Granted the December 5 customer $270 credit for 300 units of inventory returned costing $240. These units were returned to inventory 17 Purchased 2,500 units of inventory for cash at $0.70 each 22 Sold 2,400 units of inventory on account for $0.86 per unit. (It sold 2,400 of the $0.67 units.) Adjustment data: 1. Accrued salaries and wages payable $390. 2. Depreciation on equipment $190 per month 3. Income tax expense was $230, to be paid next year.

Solution

Inventory at end :

Beginning inventory :sold

dec 3 purchase: 4100-1400-2400 sale = 300 units * .67 = 201 +240 return = 441

dec 17 purchase = 2500*.7= 1750

Total inventory at end = 441+1750=2191

2)

sales = [4500*.90]+[2400*.86 ] = 6114

Accounts receivable = 4020beginning+6114sales-270 return = 9864

Accounts payable = 3240+ [4100*.67]=5987

cost of goods sold = [3100*.60]+[1400*.67]+[2400*.67]-240 = 4166

3)cash = 4580- [2500*.7] purchase for cash= 2830

Adjusted trial balance

December 31,2017

Adjusted trial balance December 31,2017
cash	2830
Accounts receivable	9864
Inventory	2191
Equipment	22800
Accumulated depreciation -equipment [1490+190]		1680
Accounts payable		5987
salaries and wage payable		390
Income tax payable		230
common stock		10900
Retained earning		17630
sales revenue		6114
sales return and allowance	270
cost of goods sold	4166
salaries and wage expense	390
Depreciation expense	190
Income tax expense	230
Total	42931	42931