The partial work sheet shown on page 559 is taken from the
Question and Solution
The partial work sheet shown on page 559 is taken from the books of Diamond Music Store, a business owned by Ned Diamond, for the year ended December 31, 20--. REQUIRED 1. Analyze the work sheet and determine the adjusted trial balance and the adjusting entries by working backward from the Income Statement and Balance Sheet columns. 2. Journalize the adjusting entries in a general journal. 3. Prepare the cost of goods sold section of the income statement for Diamond MusicStore.