a Mr. Rosiak Fashion Center Worksheet For the Year Ended November 30, 2014 Account Titles Debit Credit Cash 8,700 Accounts Receivable 27,700 Inventory 44,700 Supplies 6,200 Equipment 133,000 Accumulated Depreciation-Equipment 23,000 Notes Payable 51,000 Accounts Payable 48,500 Common Stock 50,000 Retained Earnings 38,000 Dividends 8,000 Sales Revenue 755,200 Sales Returns and Allowances 12,800 Cost of Goods Sold 497,400 Salaries and Wages Expense 136,000 Advertising Expense 24,400 Utilties Expense 14,000 Maintenance and Repairs Expense 12,100 Freight-Out 16,700 Rent Expense 24,000 Totals 965,700 965,700

Adjustment data:

1. Supplies on hand totaled $2,100.

2. Depreciation is $11,500 on the equipment.

3. Interest of $4,000 is accrued on notes payable at November 30.

4. Inventory actually on hand is $44,520.

Instructions

(a) Enter the trial balance on a worksheet, and complete the worksheet.

(b) Prepare an income statement and a retained earnings statement for the year, and a classified statement of financial position as of November 30, 2017. Notes payable of $6,000 are due in January 2018.

(c) Journalize the adjusting entries.

(d) Journalize the closing entries.

(e) Prepare a post-closing trial balance.