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The trial balance of Blossom Company contained the following accounts at November 30, the end of the companys fiscal year. Blossom adjusts its accounts annually
The trial balance of Blossom Company contained the following accounts at November 30, the end of the companys fiscal year. Blossom adjusts its accounts annually and uses the perpetual inventory system.
Adjustment data:
Blossom Company Trial Balance November 30, 2022 | ||||
---|---|---|---|---|
Debit | Credit | |||
Cash | $ 8,700 | |||
Accounts Receivable | 29,800 | |||
Inventory | 44,200 | |||
Supplies | 6,200 | |||
Equipment | 130,000 | |||
Accumulated DepreciationEquipment | $ 27,000 | |||
Notes Payable | 52,000 | |||
Accounts Payable | 47,300 | |||
Common Stock | 45,000 | |||
Retained Earnings | 40,000 | |||
Dividends | 12,500 | |||
Sales Revenue | 756,000 | |||
Sales Returns and Allowances | 8,800 | |||
Cost of Goods Sold | 497,000 | |||
Salaries and Wages Expense | 139,600 | |||
Advertising Expense | 24,300 | |||
Utilities Expense | 13,900 | |||
Maintenance and Repairs Expense | 11,600 | |||
Freight-Out | 16,700 | |||
Rent Expense | 24,000 | |||
Totals | $967,300 | $967,300 |
Adjustment data:
1. | Supplies on hand totaled $2,600. | |
2. | Depreciation is $13,000 on the equipment. | |
3. | Interest of $5,000 is accrued on notes payable at November 30. | |
4. | Inventory actually on hand is $43,900. |
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