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P5-6B, Journalize, post, and prepare adjusted trial balance and financial statements. The trial balance of Buse's Fashion Center contained this accounts at November 30, the

P5-6B, Journalize, post, and prepare adjusted trial balance and financial statements.
The trial balance of Buse's Fashion Center contained this accounts at November 30, the end of the companys fiscal year.
BUSE'S FASHION CENTER
Trial Balance
November 30, 2014
Debit Credit
Cash $37,700
Accounts Receivable 33,700
Inventory 43,000
Supplies 8,800
Equipment 143,000
Accum DeprecEquipment $41,000
Notes Payable 62,000
Accounts Payable 17,800
Common Stock 80,000
Retained Earnings 30,000
Dividends 12,000
Sales Revenue 757,200
Sales Returns and Allowances 6,200
Cost of Goods Sold 505,400
Salaries and Wages Expense 110,000
Advertising Expense 26,400
Utilities Expense 14,000
Maintenance and Repairs Expense 12,100
Freight-out 11,700
Rent Expense 24,000
$988,000 $988,000
Adjustment data:
1. Store supplies on hand total $4,000
2. Depreciation is $14,000 on the store equipment and $6,000 on the
delivery equipment.
3. Interest of $4,400 is accrued on notes payable at November 30.
4. Income tax due and unpaid at November 30 is $3,000
Other data: $24,000 of the notes payable are payable next year.
Instructions:
(a) Journalize the adjusting entries.
11/30 Account Title Amount
Account Title Amount
11/30 Account Title Amount
Account Title Amount
11/30 Account Title Amount
Account Title Amount
11/30 Account Title Amount
Account Title Amount
(b) Using the T accounts below, enter the trial balance amounts into the T accounts and post the adjusting entries from part (a).
Supplies Account Title
Supplies Expense Account Title
Accum DeprecEquipment Account Title
Account Title Account Title
(c) Prepare an adjusted trial balance.
BUSE'S FASHION CENTER
Adjusted Trial Balance
November 30, 2014
Debit Credit
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Account Title
Totals Formula Formula
(d) Prepare a multiple-step income statement and a retained earnings statement for the year, and a classified balance sheet at November 30, 2014.
BUSE'S FASHION CENTER
Income Statement
For the Year Ended November 30, 2014
Title
Account Title Amount
Less: Account Title Amount
Title Formula
Account Title Amount
Title Formula
Title
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Title Formula
Title Formula
Title
Account Title Amount
Title Formula
Account Title Amount
Title Formula
BUSE'S FASHION CENTER
Retained Earnings Statement
For the Year Ended November 30, 2014
Title Amount
Add: Account Title Amount
Formula
Less: Account Title Amount
Title Formula
BUSE'S FASHION CENTER
Balance Sheet
November 30, 2014
Assets
Title
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Title Formula
Title
Account Title Amount
Less: Account Title Amount Formula
Title Formula
Liabilities and Stockholders Equity
Title
Account Title Amount
Account Title Amount
Account Title Amount
Account Title Amount
Title Formula
Title
Account Title Amount
Title Formula
Title
Account Title Amount
Account Title Amount
Title Formula
Title Formula

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