ovember 30, 2019

Trial Balance:

Cash $25,212.00 Acc. Depriaciation Equip. $22,000.00 Equipment $154,300.00 Cost of Goods Sold $507,000.00 Dividends $8,000.00 Freight-out $6,500.00 Interest Expense $6,100.00 Interest Revenue $7,964.00 Inventory $26,000.00 Notes Receiveable $31,300.00 Prepaid Insurance $10,500.00 Rent Expense $15,000.00 Retained Earnings $61,700.00 Salaries and Wages Exp. $96,000.00 Sales Commisions Exp. $6,500.00 Sales Returns and allowance $9,000.00 Sales Revenue $706,000.00 Share Capital-ordinary $50,000.00 Ultilities Expense $8,000.00 Account Payable $25,200.00 Miscellaneous Expense $452.00 Notes Payable $37,000.00

Additional data:

-Depreciation expense for the month: 11,000

-Insurance expired for November: 7,000

-Property tax payable not yet recorded: 3,500

-Sales commission payable not yet recorded: 7,000

-Cash balance per bank, November 30: 25,121

-November bank service charge not recorded by the depositor: 28

-Deposits in transit, November 30: 1,500

-Bank collected 800 note for the company in November, plus interest 36, less fee 20.

-The collection has not been recorded by the company and no interest has been

accrued.

-Outstanding checks, November 30: 621

-Inventory on December 1, 2018: 20,000

-From an internal audit it is known that for the inventory, the same person perform

ordering items, receiving the items, and receiving the invoice.

How do you make a classified statement of financial position. Notes payable are due in 2023