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Retro Productions Ltd . is a Vancouver - based furniture manufacturer. The company reported the following information on its trial balance for 1 1 months
Retro Productions Ltd is a Vancouverbased furniture manufacturer. The company reported the following information on its trial balance for months of the year ended November RETRO PRODUCTIONS LIMITEDTrial BalanceNovember DebitCreditCash$Accounts receivableInventorySuppliesPrepaid rentEquipmentAccumulated depreciationequipment$Accounts payableDeferred revenueBank loan payablenoncurrentCommon sharesRetained earningsDividends declaredSalesCost of goods soldAdvertising expenseFreight outOffice expenseRent expenseSalaries expenseTravel expenseUtilities expenseInterest expenseIncome tax expense$$Retro reported the following transactions for the month of December. The company uses a perpetual inventory system and owned units of inventory on December Dec. Received $ on account from a major customerPaid $ in rent for the month of December Paid $ owing to a supplier from a purchase made in November Sold units of merchandise to a Canadian furniture retailer for $ on credit, FOB shipping point Purchased units of merchandise from a supplier at a cost of $ per unit on credit, FOB shipping pointPaid salaries of $Sold units of merchandise for $ on account, FOB shipping pointPaid $ for advertising expenses incurred in the month Purchased units of inventory from a supplier at a cost of $ per unit on credit, FOB shipping point.Post the general journal entries prepared in part a
Retro Productions Ltd is a Vancouverbased furniture manufacturer. The company reported the following information on its trial balance for months of the year ended November RETRO PRODUCTIONS LIMITEDTrial BalanceNovember DebitCreditCash$Accounts receivableInventorySuppliesPrepaid rentEquipmentAccumulated depreciationequipment$Accounts payableDeferred revenueBank loan payablenoncurrentCommon sharesRetained earningsDividends declaredSalesCost of goods soldAdvertising expenseFreight outOffice expenseRent expenseSalaries expenseTravel expenseUtilities expenseInterest expenseIncome tax expense$$Retro reported the following transactions for the month of December. The company uses a perpetual inventory system and owned units of inventory on December Dec. Received $ on account from a major customerPaid $ in rent for the month of December Paid $ owing to a supplier from a purchase made in November Sold units of merchandise to a Canadian furniture retailer for $ on credit, FOB shipping point Purchased units of merchandise from a supplier at a cost of $ per unit on credit, FOB shipping pointPaid salaries of $Sold units of merchandise for $ on account, FOB shipping pointPaid $ for advertising expenses incurred in the month Purchased units of inventory from a supplier at a cost of $ per unit on credit, FOB shipping point.Post the general journal entries prepared in part a
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