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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. Adjustment data: 1.
The trial balance of Coronado Fashion Center contained the following accounts at November 30 , the end of the company's fiscal year. 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. 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. Salarles and Wages Expense 138560 Advertising Expense 27600 Utilitles Expenses 15440 Maintenance and Repalrs Expense 12100 Dellvery Expense 16700 Rent Expense 25200 Interest Expense Supplies Expense Depreclatlon 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 1 Selling expenses $
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