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CES Problem 3-04 The trial balance of Marigold Fashion Center contained the following accounts at November 30, Credit tudy MARIGOLD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,870 Accounts Receivable 36,790 Inventory 48,090 Supplies 8,590 Equipment 139,180 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,880 Advertising Expense 27,480 Utilities Expenses 15,120 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,080 Totals $1,000,480 $26,160 54,090 51,590 93,090 11,090 764,460 $1,000,480 Adjustment data: 1. Supplies on hand totaled $4,590. 2. Depreciation is $16,620 on the equipment. 3. Interest of $10,260 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. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is Record fournal entries in the order presented in the problem.) Return to Blackboard LUS , intermediate Accounting, 17 1. Supplies on hand totaled 54,500 2. Depreciation is $16,620 on the equipment 3. Interest of $10.260 is acord on notes le at November 2. perce and is experts are in and 20 ministrative 3. $30,000 of paytle are un for payment 4. Hinance and repair expenses 100% administrative Journalthewing entries. (Credit account ils are automatically in the mons. Do not my lewe cry for the accounts and for the Record journal entries in the order presented in the problem C 1 Nov 30 2 3o. HARD FAR CENTER Adjunted Trial MENT RESOURCES Prepare an adjusted trial balance MARIGOLD FASHION CENTER Adjusted Trial Balance Debit Credit Results by Study Total Portal P Pandora Home - Hentai Fou SCP Series - SC F Related image Timeline luccia Spectrum Star LUS Kiteo, Intermediate Accounting, 17e Return to Bladboard PROES Prepare a multi-step income statement for the year grore come (Enter loss using cither a negative si preceding the reg. 45 MARIGOLD FASHION CENTER Income Statement Sang De SHOW LIST OF ACCOUNTS sudy Prepare retained earnings statement for the year. MARIGOLD FASHION CENTER Retained Earnings Statement SHOW LIST OF ACCOUNTS Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets Ret JS Kiese, Intermediate Accounting, 17e SHOW LIST OF ACCOUNTS Prepare a cassified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets Les and Stockholders' Equity JS kiego, Intermediate Accounting, 17e SHOW LIST OF ACCOUNTS Journalize the desing entries. (Credit account titles are automatically indented when amount is entered. Do not indent man No Date Account Titles and Explanation Debit Credit 1. Nov. 30 (To dose accounts with credit balances.) 2. Nov. 30 dy (Todose accounts with debit balances.) 3. Nov. 30 (Todose net income / Clow) HOUSTO ACCOUNTS Prepare a post-doing trial balance MARIGOLD FASHION CENTER Post-Cong Trace Debit Credit (To dose accounts with debit balances.) 3. Nov. 30 (To close net income / Closs).) idy SHOW LIST OF ACCOUNTS Prepare a post-dosing trial balance. MARIGOLD FASHION CENTER Post-Closing Trial Balance Debit Credit Click if you would like to show Work for this questions on Show Work SHOWLIT D ACCOUNTS o i Problem 3-04 The trial balance of Marigold Fashion Center contained the following accounts at November 3 Credit tudy MARIGOLD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,870 Accounts Receivable 36,790 Inventory 48,090 Supplies 8,590 Equipment 139,180 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,880 Advertising Expense 27,480 Utilities Expenses 15,120 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,080 Totals $1,000,480 $26,160 54,090 51,590 93,090 11,090 764,460 $1,000,480 Adjustment data: 1. Supplies on hand totaled $4,590. 2. Depreciation is $16,620 on the equipment. 3. Interest of $10,260 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. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entere the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 w SHOW LIST OF ACCOUNTS 3 Prepare an adjusted trial balance. MARIGOLD FASHION CENTER Adjusted Trial Balance Debit Credit by Study Total HOW LIST OF ACCOUNT CES Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the num MARIGOLD FASHION CENTER Income Statement Rudy Selling expenses Administrative expenses V V SHOW LIST OF ACCOUNTS Prepare retained earnings statement for the year. MARIGOLD FASHION CENTER Retained Earnings Statement SHOW ST OF ACCOUNTS Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets by Study Liabilities and Stockholders' Equity SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 Rudy (To dose accounts with credit balances.) Nov. 30 2. (To close accounts with debit balances.) 3. Nov. 30 (To close net income / Closs).) Prepare a post-closing trial balance. MARIGOLD FASHION CENTER Post-Closing Trial Balance Debit Credit Click if you would like to show Work for this question: Open Show Work CES Problem 3-04 The trial balance of Marigold Fashion Center contained the following accounts at November 30, Credit tudy MARIGOLD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,870 Accounts Receivable 36,790 Inventory 48,090 Supplies 8,590 Equipment 139,180 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,880 Advertising Expense 27,480 Utilities Expenses 15,120 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,080 Totals $1,000,480 $26,160 54,090 51,590 93,090 11,090 764,460 $1,000,480 Adjustment data: 1. Supplies on hand totaled $4,590. 2. Depreciation is $16,620 on the equipment. 3. Interest of $10,260 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. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is Record fournal entries in the order presented in the problem.) Return to Blackboard LUS , intermediate Accounting, 17 1. Supplies on hand totaled 54,500 2. Depreciation is $16,620 on the equipment 3. Interest of $10.260 is acord on notes le at November 2. perce and is experts are in and 20 ministrative 3. $30,000 of paytle are un for payment 4. Hinance and repair expenses 100% administrative Journalthewing entries. (Credit account ils are automatically in the mons. Do not my lewe cry for the accounts and for the Record journal entries in the order presented in the problem C 1 Nov 30 2 3o. HARD FAR CENTER Adjunted Trial MENT RESOURCES Prepare an adjusted trial balance MARIGOLD FASHION CENTER Adjusted Trial Balance Debit Credit Results by Study Total Portal P Pandora Home - Hentai Fou SCP Series - SC F Related image Timeline luccia Spectrum Star LUS Kiteo, Intermediate Accounting, 17e Return to Bladboard PROES Prepare a multi-step income statement for the year grore come (Enter loss using cither a negative si preceding the reg. 45 MARIGOLD FASHION CENTER Income Statement Sang De SHOW LIST OF ACCOUNTS sudy Prepare retained earnings statement for the year. MARIGOLD FASHION CENTER Retained Earnings Statement SHOW LIST OF ACCOUNTS Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets Ret JS Kiese, Intermediate Accounting, 17e SHOW LIST OF ACCOUNTS Prepare a cassified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets Les and Stockholders' Equity JS kiego, Intermediate Accounting, 17e SHOW LIST OF ACCOUNTS Journalize the desing entries. (Credit account titles are automatically indented when amount is entered. Do not indent man No Date Account Titles and Explanation Debit Credit 1. Nov. 30 (To dose accounts with credit balances.) 2. Nov. 30 dy (Todose accounts with debit balances.) 3. Nov. 30 (Todose net income / Clow) HOUSTO ACCOUNTS Prepare a post-doing trial balance MARIGOLD FASHION CENTER Post-Cong Trace Debit Credit (To dose accounts with debit balances.) 3. Nov. 30 (To close net income / Closs).) idy SHOW LIST OF ACCOUNTS Prepare a post-dosing trial balance. MARIGOLD FASHION CENTER Post-Closing Trial Balance Debit Credit Click if you would like to show Work for this questions on Show Work SHOWLIT D ACCOUNTS o i Problem 3-04 The trial balance of Marigold Fashion Center contained the following accounts at November 3 Credit tudy MARIGOLD FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $32,870 Accounts Receivable 36,790 Inventory 48,090 Supplies 8,590 Equipment 139,180 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,880 Advertising Expense 27,480 Utilities Expenses 15,120 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,080 Totals $1,000,480 $26,160 54,090 51,590 93,090 11,090 764,460 $1,000,480 Adjustment data: 1. Supplies on hand totaled $4,590. 2. Depreciation is $16,620 on the equipment. 3. Interest of $10,260 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. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entere the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 w SHOW LIST OF ACCOUNTS 3 Prepare an adjusted trial balance. MARIGOLD FASHION CENTER Adjusted Trial Balance Debit Credit by Study Total HOW LIST OF ACCOUNT CES Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the num MARIGOLD FASHION CENTER Income Statement Rudy Selling expenses Administrative expenses V V SHOW LIST OF ACCOUNTS Prepare retained earnings statement for the year. MARIGOLD FASHION CENTER Retained Earnings Statement SHOW ST OF ACCOUNTS Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity.) MARIGOLD FASHION CENTER Balance Sheet Assets by Study Liabilities and Stockholders' Equity SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 Rudy (To dose accounts with credit balances.) Nov. 30 2. (To close accounts with debit balances.) 3. Nov. 30 (To close net income / Closs).) Prepare a post-closing trial balance. MARIGOLD FASHION CENTER Post-Closing Trial Balance Debit Credit Click if you would like to show Work for this question: Open Show Work