For The Year Ended Nov, 30 2015 Trial Balance Adjusting Entries Adjusted Trial B

Question

For The Year Ended Nov, 30 2015 Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit debit credit debit credit Cash 8,990 Accounst Receivable 31,170 Inventory 43,210 Supplies 6,180 Equipment 135,800 Accumulated Depreciation-Equipment 28,440 Notes Payable 51,000 Accounts Payable 41,400 Interest Payable Common Stock 53,340 Retained Earnings 44,570 Dividends 12,930 Sales Revenue 755,900 Sales Return and allowances 8,780 Cost of Good Sold 497,300 Salaries and Wages Expense 139,700 Advertising Expense 24,260 Utilities Expenses 13,850 Maintanance and Repairs Expenses 11,890 Freight out 16,540 Rent Expenses 24,050 Totals 974,650,974,650 Supplies Expense Depreciation Expense Interest Expense Net Loss    Totals

VALDEZ FASHION CENTER Trial Balance November 30, 2015 NMENT RESOURCES estion 11 estion 13 oblem 5-5 Debit Credit $ 8,990 31,170 43,210 6,180 135,800 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowance Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-Out Rent Expense ew Score ew Results by Study ctive $28,440 51,000 41,400 53,340 44,570 12,930 755,900 8,780 497,300 139,700 24,260 13,850 11,890 16,540 24,050 Totals $974,650 $974,650 Adjustment data 1, supplies on hand totaled $2,020 2. Depreciation is $11,400 on the equipment. 3. Interest of $5,470 is accrued on notes payable at November 30 4. Inventory actually on hand is $42,910

Explanation / Answer

VALDEZ FASHION CENTER WORKSHEET 30-Nov-15 Account Names Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 8,990 8,990 8,990 Accounts Receivable 31,170 31,170 31,170 Inventory 43,210 300 42910 42910 Supplies   6,180 4,160 2,020 2,020 Equipment 135,800 135,800 135,800 Acc. Dep-Equipment 28440 11,400 39,840 39,840 Notes payabble 51,000 51,000 51,000 Accounts payable 41400 41,400 41,400 Interest payable 5470 5,470 5,470 Common Stock 53340 53,340 53,340 Retained earnings 44,570 44,570 44,570 Dividends 12930 12930 12930 Sales Revenue 755900 755900 755900 Sales return and Allowance 8780 8780 8780 Cost of Goods sold 497,300 300 497,600 497,600 Salaries and wages expense 139,700 139,700 139,700 Advertising expense 24260 24,260 24260 Utilities expense 13,850 13,850 13,850 Maintenance expense 11,890 11,890 11,890 Frieght out 16,540 16,540 16,540 Rent expense 24050 24,050 24,050 Supplies expense 4,160 4,160 4,160 Deprceciation expense 11,400 11,400 11,400 Interest expense 5,470 5,470 5,470 Total 974,650 974650 21,330 21,330 991,520 991,520 757,700 755,900 233,820 235,620 Net Loss Incurred 1,800 1800 757,700 757,700 235,620 235,620

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