Question
A)The adjusted Trail Balance of Saudi Gold Co Contained the following accounts at November 30, the end of the company's fiscal year: Saudi Gold Co.
A)The adjusted Trail Balance of Saudi Gold Co Contained the following accounts at November 30, the end of the company's fiscal year:
Saudi Gold Co.
Adjusted Trial Balance
November 30, 2019
Additional information:
1. Salaries and wages expense is 70% selling and 30% administrative.
2. Rent expense and utilities expense 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.
4. Maintenance and repairs expense is 100% administrative.
Instructions:
Prepare an:
1.income statement
2.Retained earnings statement for the year
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