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Need all financial statements (adjusting entries, adjusted trial balance, income statement, statement of retained earnings, unclassified balance sheet) The trial balance of Sheridan Fashion Center
Need all financial statements (adjusting entries, adjusted trial balance, income statement, statement of retained earnings, unclassified balance sheet)
The trial balance of Sheridan Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. SHERIDAN FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Credit Cash $32.970 Accounts Receivable 36,880 Inventory 48,180 Supplies 8.680 139,360 $26,180 54,180 51.680 93,180 11,180 764,650 Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expenses Maintenance and Repairs Expense Delivery Expense 4.200 495.400 138.760 27.490 15.240 12.100 16.700 Rent Expense 25.090 Totals $1.001.050 $1,001,050 Adjustment data: 1 2 Supplies on hand totaled $ 4,680. Depreciation is $ 16,635 on the equipment Interest of $ 10,720 is accrued on notes payable at November 30. 3. Other data: 1 2 Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative. $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. 3. 4Step by Step Solution
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