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The trial balance of Coronado Fashion Center contained the following accounts at November 30 , the end of the company's fiscal year. CORONADO FASHIONCENTER TRIAL
The trial balance of Coronado Fashion Center contained the following accounts at November 30 , the end of the company's fiscal year. CORONADO FASHIONCENTER TRIAL BALANCE NOVEMBER 30, 2020 Adjustment data: 1. Supplies on hand totaled $4,830. 2. Depreciation is $16,800 on the equipment. 3. Interest of $11,360 is accrued on notes payable at November 30 . Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative. Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Prepare an adjusted trial balance. CORONADO FASHION CENTER Adjusted Trial Balance November 30,2020 Credit Cash A.ccounts Recelvable 37030 Inventory 48330 Supplies 4830 Equlpment 139660 Accumulated Depreclatlon-Equlpment 43200 Notes Payable 54330 Accounts Paysble 51830 Common Stock 93330 Retalned Earnings 11330 Sales Reverue Interest Payable Interest Payable 11360 Sales Returns and allowances Cost of coods sold Salarles and Wages Expense A.dvertlsing Expense Utilitles Expenses Malntenance and Repalrs Expense Dellvery Expense Rent Expense Interest Expense Supplies Expense Depreclation Expense Total Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the number eg. - 45 or parentheses eg. (45).) CORONADO FASHION CENTER Income Statement Selling expenses Administrative expenses
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