answer number 8
INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November 1, the company paid 9360,000 for a 6 -month insurance contract with Assurance Guaranteed. (b) On November 21 , the company issued a 90-day 6\% note for money borrowed from A1 Loan amounting to 9600,000 . (c) On November 22, Animo Bookstore contracted the company to deliver specialized Bookstore. 994,400 worth of school supplies have been delivered by month-end. (d) On November 30, the company has earned commissions of 92,000 from Steadfast. Faith Company for goods sold on consigment basis. This remains to be uncollected at month-end. (e) On November 30 , the company received its utilities bill for the month of November amounting to 192,000 . This remains to be unpaid at month-end. (f) On November 30 , Store Supplies costing 920,000 were on hand. (0) The company purchased the equipment on July 1,2022 . The equipment was estimated to have a useful life of five years and a residual value of 10% of cost. (h) The company purchased the furniture on July 1, 2022. The furniture was estimated to have a useful life of four years with no residual value. (i) The allowance for doubtful accounts is estimated at 3% of accounts receivable. (i) Based on a physical count, ending inventory was determined to be 9520,000 . (8) Prepare a post-closing Trial Balance as of December 1, 2022 [PCTB]. INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November 1, the company paid 9360,000 for a 6 -month insurance contract with Assurance Guaranteed. (b) On November 21 , the company issued a 90-day 6\% note for money borrowed from A1 Loan amounting to 9600,000 . (c) On November 22, Animo Bookstore contracted the company to deliver specialized Bookstore. 994,400 worth of school supplies have been delivered by month-end. (d) On November 30, the company has earned commissions of 92,000 from Steadfast. Faith Company for goods sold on consigment basis. This remains to be uncollected at month-end. (e) On November 30 , the company received its utilities bill for the month of November amounting to 192,000 . This remains to be unpaid at month-end. (f) On November 30 , Store Supplies costing 920,000 were on hand. (0) The company purchased the equipment on July 1,2022 . The equipment was estimated to have a useful life of five years and a residual value of 10% of cost. (h) The company purchased the furniture on July 1, 2022. The furniture was estimated to have a useful life of four years with no residual value. (i) The allowance for doubtful accounts is estimated at 3% of accounts receivable. (i) Based on a physical count, ending inventory was determined to be 9520,000 . (8) Prepare a post-closing Trial Balance as of December 1, 2022 [PCTB]
