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Requirements: Multiple column Income statement, Owners equity statement and Classified Balance Sheet. of accounting information. 2. The trial balance of Zaman Fashion Center contained the
Requirements: Multiple column Income statement, Owners equity statement and Classified Balance Sheet.
of accounting information. 2. The trial balance of Zaman Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Zaman Fashion Center Trial Balance November 30, 2015 Debit (Tk) Credit (Tk) Cash 28,700 Accounts Receivable 33,700 Merchandise Inventory 45,000 Store Supplies 5,500 Store Equipment 85,000 Accumulated Depreciation-Store Equipment 18,000 Delivery Equipment 48,000 Accumulated Depreciation-Delivery Equipment 6,000 Notes Payable 51,000 Account Payable 48,500 M. Zaman, Capital 110,000 M. Zaman, Drawing 12,000 Sales 759,200 Sales Returns and Allowances 4,200 Cost of Goods Sold 497,400 Salaries Expense 140,000 Advertising Expense 26,400 Utilitics Expense 14,000 Repair Expense 12,100 16,700 Delivery Expense Rent Expense 24,000 992,700 992,700 Totals Adjustment data: a) Store supplies on hand totaled 3,500. b) Depreciation is Tk. 9,000 on the store equipment and Tk. 7,000 on the delivery equipment. c) Interest of Tk. 11,000 is accrued on notes payable at November 30. d) Merchandies inventory actually on hand is Tk. 44,400. Instructions Prepare a multiple-step income statement and owner's equity statement for the year and a classified balance slecf as of November 30, 2015. nn account on muly 1 with credit terms of 2/10, n/30. On JulyStep by Step Solution
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