Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented below is the November 30,2022, unadjusted trial balance of Brooke's Candle Boutique, which is owned by Superior Scents Company. The temporary account balances represent

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Presented below is the November 30,2022, unadjusted trial balance of Brooke's Candle Boutique, which is owned by Superior Scents Company. The temporary account balances represent the results of entries recorded during the first 11 months of 2022, and the balance in Brooke's common stock and retained earnings accounts have not changed since December 31, 2021. The following transactions occurred during the month of December 2022 : Dec. 4 Paid accounts payable of $17,500 Paid store rental of $6,200 in advance. Purchased supplies, $900, on account. Deposited $21,000 of candle service revenue receipts. Uneamed candle service revenue is for gift certificates sold for future candle services. $650 more of these gift certificates were sold to a local shop, for cash. 11 Acquired additional equipment worth $29,000 by paying $600 cash and giving a long-term note payable for the balance. 13 Paid wages of $12,000 for the period December 1 through 14. 15 Paid for the supplies purchased on December 6. 16 Purchased $13,000 of supplies on credit. 18 Sold 600 shares of common stock for $7,200. Deposited $34,700 from candle service revenue receipts. Paid $6,000 for repairs at the candle boutique. Paid for the supplies purchased on December 16. Paid wages of $13,500 for the period December 15 through 28. Paid $4,700 to newspaper for advertisements that appeared in December. Deposited \$38,500 from candle service revenue receipts. 31 Paid the annual dividend, amounting to $8,500. 2. Post the December journal entries to the T-accounts to get your unadjusted balances balance columns of the worksheet. General Ledger T-Accounts: Brooke's Candle Boutique \begin{tabular}{|l|c|l|l|} \hline \multicolumn{4}{|c|}{ CASH -111 } \\ \hline NOV 30 & 666,400 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ SUPPLIES - 112 } \\ \hline NOV 30 & 7,300 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ EQUIPNIENT - 131 } \\ \hline NOV 30 & 412,000 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ ACCUMULATED DEPR, EQPT - 132 } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ BUILDING - 135 } \\ \hline NOV 30 & 620,000 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ ACCUMULATED DEPR, BLDG-136 } \\ \hline & & NOV 30 & 288,000 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ ACCOUNTS PAYABLE - 211 } \\ \hline & & NOV 30 & 47,200 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ UNEARED CANDLE SERV.REV - 215 } \\ \hline & & NOV 30 & 9,100 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ LONG-TERM NOTES PAYABLE - 231 } \\ \hline & & NOV 30 & 197,200 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ UTILITIES PAYALE - 213 } \\ \hline & & NOV 30 & 0 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ RETAINED EARNINGS-312 } \\ \hline & & NOV 30 & 293,000 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ DIVIDEND -313 } \\ \hline NOV 30 & 0 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ STORE RENTAL EXPENSE - 512 } \\ \hline NOV 30 & 298,000 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ INCOME SUMMRY 314} \\ \hline & & NOV 30 & 0 \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ SUPPLIES EXPENSE - 513 } \\ \hline NOV 30 & 42,500 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{3}{|c|}{ DEPRECIATION EXPNSE, EQPT - 517} \\ \hline NOV 30 & 0 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ UTILITIES EXPENSE - 514 } \\ \hline NOV 30 & 23,000 & \multicolumn{1}{|c|}{} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ DEPRECIATION EXPENS, BLDG - 518} \\ \hline NOV 30 & 0 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ ADVERTISING EXENSE- 515} \\ \hline NOV 30 & 4,700 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|c|l|l|} \hline \multicolumn{3}{|c|}{ INTEREST EXPENSE-519 } \\ \hline NOV 30 & 0 & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} MAINTENANCE EXPENSE - 516 \begin{tabular}{|l|l|} \hline NoV 30 & 62,300 \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health And Safety Environment And Quality Audits A Risk Based Approach

Authors: Stephen Asbury

4th Edition

1032427574, 978-1032427577

More Books

Students also viewed these Accounting questions