11 The trial balance of Terry Manning Fashion Center contained the following accounts at Complete accounting cycle November 30, the end of the company's fiscal year. beginning with a worksheet. (SO 4,5,6,8) TERRY MANNING FASHION CENTER Trial Balance November 30, 2010 Debit Credit Cash $ 28,700 Accounts Receivable 30,700 Merchandise Inventory 44,700 Store Supplies 6,200 Store Equipment 85,000 Accumulated Depreciation-Store Equipment $ 22,000 Delivery Equipment 48,000 Accumulated Depreciation--Delivery Equipment 6,000 Notes Payable 51,000 Accounts Payable 48,500 Terry Manning, Capital 110,000 Terry Manning, Drawing 12,000 Sales 755,200 Sales Returns and Allowances 8,800 Cost of Goods Sold 497,400 Salaries Expense 140,000 Advertising Expense 24,400 Utilities Expense 14,000 Repair Expense 12,100 Delivery Expense 16,700 Rent Expense 24,000 Totals $992,700 $992,700 Adjustment data: 1 Store supplies on hand totaled $2,500. Depreciation is $9,000 on the store equipment and $5,000 on the delivery equipment. Interest of $4,080 is accrued on notes payable at November 30. Merchandise inventory actually on hand is $44,400. instructions 6) Enter the trial balance on a worksheet, and complete the worksheet. (a) Adj. trial balance b) Prepare a multiple-step income statement and an owner's equity statement for the year, and a clas- $1,010,780 eni sified balance sheet as of November 30, 2010. Notes payable of $30,000 are due in January 2011. Net loss $4,280 Journalize the adjusting entries. (b) Gross profit $248,700 (d) pour alize the closing entries. Total assets $197,300 ) Prepare a post-closing trial balance