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m/was/ui/v2/assessment-player/index.html?launchid=b37719ef-4ec1-48d1-bc91-9936d1d3/ques Question 1 of 1 Credit TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33.140 Accounts Receivable 36,970 Inventory 48,270 Supplies 8.770 Equipment 139.540 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4.200 Cost of Goods Sold 495.400 Salaries and Wages Expense 138.640 Advertising Expense 27,570 Utilities Expenses 15,360 Maintenance and Repairs Expense 12.100 Delivery Expense 16,700 Rent Expense 25.170 Totals $1,001,830 $26.340 54,270 51.770 93,270 11270 764,910 $1,001,830 Adjustment data: 1. 2. 3. Supplies on hand totaled $4.770. Depreciation is $16.755 on the equipment. Interest of $11.850 is accrued on notes payable at November 30. Other data 1 2 3. 4. Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative. $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. was/ui/v2/assessment-player/index.html?launchid-b37719ef-4ec1-48d1-b91d8142936d1d3/question/ Question 1 of 1 > 9,76/10 E METLOCKFASHION CENTER Income Statement For the Year Ended 30.000 Sales Reve Saturn Awe Net Sales Cost of Good Son Operating Expenses Selling expenses Stand WCS 700 25. Advertising tips 122 1 16700 Delivery 20156 1 Rent 1000 Spainters 16755 Telecom Administrative pense and Wap 91592 3072 Uits per 100 Malinance and experie 5034 Other Expert ssment-player/index.html?launchid=b37719ef-4ec1-48d1-bc91-d3142936d1d3#/question/ on 1 of 1 > C 9.76 / 10 E 4200 OZORA 495400 265310 275201 12 i 16700 i 20136 1 1000 1 16755 19 40992 3072 12100 5034 6179 25699 1995 2 List of Accounts - Your answer is partially correct. Prepare retained earnings statement for the year. METLOCK FASHION CENTER Retained Earnings Statement For the Year Ended November 30, 2020 11270 Retained Earnings, November 30, 2020 2835 i Less Net Income /(Loss) V $ 8435 Retained Earnings, November 30, 2020 List of Accounts Your answer is correct Prepare a classified balance sheet as of November 30, 2020. (Ust current assets in order of liquidity) METLOCK FASHION CENTER Balance Sheet 30, 2020 Nos Assets m/was/ui/v2/assessment-player/index.html?launchid=b37719ef-4ec1-48d1-bc91-9936d1d3/ques Question 1 of 1 Credit TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33.140 Accounts Receivable 36,970 Inventory 48,270 Supplies 8.770 Equipment 139.540 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4.200 Cost of Goods Sold 495.400 Salaries and Wages Expense 138.640 Advertising Expense 27,570 Utilities Expenses 15,360 Maintenance and Repairs Expense 12.100 Delivery Expense 16,700 Rent Expense 25.170 Totals $1,001,830 $26.340 54,270 51.770 93,270 11270 764,910 $1,001,830 Adjustment data: 1. 2. 3. Supplies on hand totaled $4.770. Depreciation is $16.755 on the equipment. Interest of $11.850 is accrued on notes payable at November 30. Other data 1 2 3. 4. Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative. $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. was/ui/v2/assessment-player/index.html?launchid-b37719ef-4ec1-48d1-b91d8142936d1d3/question/ Question 1 of 1 > 9,76/10 E METLOCKFASHION CENTER Income Statement For the Year Ended 30.000 Sales Reve Saturn Awe Net Sales Cost of Good Son Operating Expenses Selling expenses Stand WCS 700 25. Advertising tips 122 1 16700 Delivery 20156 1 Rent 1000 Spainters 16755 Telecom Administrative pense and Wap 91592 3072 Uits per 100 Malinance and experie 5034 Other Expert ssment-player/index.html?launchid=b37719ef-4ec1-48d1-bc91-d3142936d1d3#/question/ on 1 of 1 > C 9.76 / 10 E 4200 OZORA 495400 265310 275201 12 i 16700 i 20136 1 1000 1 16755 19 40992 3072 12100 5034 6179 25699 1995 2 List of Accounts - Your answer is partially correct. Prepare retained earnings statement for the year. METLOCK FASHION CENTER Retained Earnings Statement For the Year Ended November 30, 2020 11270 Retained Earnings, November 30, 2020 2835 i Less Net Income /(Loss) V $ 8435 Retained Earnings, November 30, 2020 List of Accounts Your answer is correct Prepare a classified balance sheet as of November 30, 2020. (Ust current assets in order of liquidity) METLOCK FASHION CENTER Balance Sheet 30, 2020 Nos Assets
