Administrative expenses Salaries and Wages Expense \begin{tabular}{|l|l|} \hline 41580 & i \\ \hline \end{tabular} Rent Expense \begin{tabular}{|l|l|} \hline 5030 & i \\ \hline \end{tabular} Utilities Expenses \begin{tabular}{|l|l|} \hline 3080 & i \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Maintenance and Repairs Expense \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline 12100 & i \\ \hline \end{tabular} Other Expenses and Losses Net Income / (Loss) Prepare retained earnings statement for the year. Balance Sheet November 30, 2020 Assets Current Assets \begin{tabular}{|l|} \hline Cash \\ \hline Accounts Receivable \\ \hline \end{tabular} $33150 Inventory 48300 Supplies 4800 Current Assets $ 123250 Property, Plant and Equipment Equipment 139600 Less : Accumulated Depreciation-Equipment Total Assets \begin{tabular}{|l|l|} \hline43025 & i \\ \hline \end{tabular} \begin{tabular}{|} \hline 96575 \\ \hline \hline 260185 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current Liabilities Notes Payable $ 30000 Accounts Payable 51800 Interest Payable Total Current Liabilities 10990 Long-term Liabilities Notes Payable \begin{tabular}{|r|} \hline 24300 \\ \hline 117090 \\ \hline \end{tabular} Stockholders' Equity Common Stock 93300 Total Liabilities $92790 No. Date Account Titles and Explanation 1. Nov. 30 Sales Revenue \begin{tabular}{|l||} \hline 760750 \\ \hline \hline \end{tabular} (To close accounts with credit balances.) 760750 Advertising Expense Delivery Expense 16700 Maintenance and Repairs Expense 12100 Interest Expense 10990 Supplies Expense Depreciation Expense 16725 Cost of Goods Sold 495400 Sales Returns and Allowances (To close accounts with debit balances.) 3. Nov. 30 Retained Earnings 13965 4200 Prepare a post-closing trial balance. WHISPERING FASHION CENTER Post-Closing Trial Balance November 30, 2020 Debit Credit Accounts Receivable 37000 Inventory 48300 Supplies 4800 Equipment 136900 Accumulated Depreciation-Equipment 43025 Notes Payable 54300 Accounts Payable 51800 Common Stock 93300 Retained Earnings 2655 Interest Payable $ $ The trial balance of Whispering Fashion Center contained the following accounts at November 30 , the end of the company's fiscal year. WHISPERING FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Adjustment data: 1. Supplies on hand totaled $4,800. 2. Depreciation is $16,725 on the equipment. 3. Interest of $10,990 is accrued on notes payable at November 30 . Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative. Administrative expenses Salaries and Wages Expense \begin{tabular}{|l|l|} \hline 41580 & i \\ \hline \end{tabular} Rent Expense \begin{tabular}{|l|l|} \hline 5030 & i \\ \hline \end{tabular} Utilities Expenses \begin{tabular}{|l|l|} \hline 3080 & i \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Maintenance and Repairs Expense \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline 12100 & i \\ \hline \end{tabular} Other Expenses and Losses Net Income / (Loss) Prepare retained earnings statement for the year. Balance Sheet November 30, 2020 Assets Current Assets \begin{tabular}{|l|} \hline Cash \\ \hline Accounts Receivable \\ \hline \end{tabular} $33150 Inventory 48300 Supplies 4800 Current Assets $ 123250 Property, Plant and Equipment Equipment 139600 Less : Accumulated Depreciation-Equipment Total Assets \begin{tabular}{|l|l|} \hline43025 & i \\ \hline \end{tabular} \begin{tabular}{|} \hline 96575 \\ \hline \hline 260185 \\ \hline \end{tabular} Liabilities and Stockholders' Equity Current Liabilities Notes Payable $ 30000 Accounts Payable 51800 Interest Payable Total Current Liabilities 10990 Long-term Liabilities Notes Payable \begin{tabular}{|r|} \hline 24300 \\ \hline 117090 \\ \hline \end{tabular} Stockholders' Equity Common Stock 93300 Total Liabilities $92790 No. Date Account Titles and Explanation 1. Nov. 30 Sales Revenue \begin{tabular}{|l||} \hline 760750 \\ \hline \hline \end{tabular} (To close accounts with credit balances.) 760750 Advertising Expense Delivery Expense 16700 Maintenance and Repairs Expense 12100 Interest Expense 10990 Supplies Expense Depreciation Expense 16725 Cost of Goods Sold 495400 Sales Returns and Allowances (To close accounts with debit balances.) 3. Nov. 30 Retained Earnings 13965 4200 Prepare a post-closing trial balance. WHISPERING FASHION CENTER Post-Closing Trial Balance November 30, 2020 Debit Credit Accounts Receivable 37000 Inventory 48300 Supplies 4800 Equipment 136900 Accumulated Depreciation-Equipment 43025 Notes Payable 54300 Accounts Payable 51800 Common Stock 93300 Retained Earnings 2655 Interest Payable $ $ The trial balance of Whispering Fashion Center contained the following accounts at November 30 , the end of the company's fiscal year. WHISPERING FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Adjustment data: 1. Supplies on hand totaled $4,800. 2. Depreciation is $16,725 on the equipment. 3. Interest of $10,990 is accrued on notes payable at November 30 . Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative