The trial balance of Mr. Rosiak Fashion Center, Ltd. contained the following accounts at November 30, the end of the company’s fi scal year

Financial Accounting IFRS, 3rd Ec X File C:/Users/User/Documents/lisa/Financial%20Accounting%20IFRS,%203rd%20Edition.%20by%20Kieso,%20Donald%20E.%20Kimmel,. November 30, 2017 Debit Credit Cash 8,700 Accounts Receivable 27,700 Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Share Capital-Ordinary Retained Earnings Dividends 44,700 6,200 133,000 23,000 51,000 48,500 50,000 38,000 8,000 Sales Revenue 755,200 12,800 497,400 136,000 Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-Out Rent Expense 24,400 14,000 12,100 16,700 24,000 Totals 965,700 965,700 Adjustment data: 1. Supplies on hand totaled 2,100. 2. Depreciation is 11,500 on the equipment. 3. Interest of 4,000 is accrued on notes payable at November 30. 4. Inventory actually on hand is 44,520. Instructions (a) Adj. trial balance 981,200 Net loss 1,980 (a) Enter the trial balance on a worksheet, and complete the worksheet. (b) Prepare an income statement and a retained earnings statement for the year, and a classified statement of financial position as of November 30, 2017. Notes payable of 6,000 are due in January 2018. (c) Journalize the adjusting entries. (d) Journalize the closing entries. (e) Prepare a post-closing trial balance. (b) Gross profit 244,820 Total assets 181,520 11:44 PM P Type here to search IA 32C 1/3/2022