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The trial balance of Novak Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit NOVAK FASHION CENTER

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The trial balance of Novak Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit NOVAK FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33780 Accounts Receivable 37420 Inventory 48720 Supplies 9220 Equipment 140440 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4200 Cost of Goods Sold 495400 Salaries and Wages Expense 138040 Advertising Expense 27760 Utilities Expenses 15960 Maintenance and Repairs Expense 12100 Delivery Expense 16700 Rent Expense 25360 Totais $1005100 $26720 54720 52220 93720 11720 766000 $1005100 Adjustment data: 1. Supplies on hand totaled $5220. 2 Depreciation is $17040 on the equipment. 3. Interest of $12030 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. 530000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative Other data 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative 3. $30000 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 In the problem.) No. Date Account Titles and Explanation 1. Nov. 30 Debit Credit 2. Nov. 30 3. Nov 30 eTextbook and Media List of Accounts Prepare an adjusted trial balance NOVAK FASHION CENTER Adjusted Trial Balance Debit Credit Prepare anased trial balance NOVAK FASHION CENTER Adjusted Trial Balance Debit Credit Prepare a multiple-step income statement for the year. Cignore income taxes) (Enter loss using either a negative sign preceding the number 3.-45 or parentheses (451) NOVAK FASHION CENTER Income Statement Selling expenses Administrative expenses e Textbook and Media List of Accounts Prepare retained earnings statement for the year. NOVAK FASHION CENTER Retained Earnings Statement e Textbook and Media List of Accounts Prepare a classified balance sheet as of November 30, 2020. (List current assets in order of liquidity) NOVAK FASHION CENTER Balance Sheet Assets Liabilities and Stockholders' Equity Journalize the closing 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 ar No. Date Account Titles and Explanation 1. Nov. 30 Debit Credit (To close accounts with credit balances.) Nov. 30 2 (o close accounts with debit balances.) 3. Nov. 30 (to close net income/os.) e Textbook and Media List of Accounts Prepare a post-closing trial balance. NOVAK FASHION CENTER Post-Closing Trial Balance Debit Credit e Textbook and Media List of Accounts Send to Gradebook

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