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The trial balance of Terry Manning Fashion Center contained the following accounts at November 30, the end of the company's fiscal year: TERRY MANNING FASHION
The trial balance of Terry Manning Fashion Center contained the following accounts at November 30, the end of the company's fiscal year: TERRY MANNING FASHION CENTER Worksheet For the Year Ended November 30, 2022 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Cash $28,000 Accounts Receivable 30,700 Merchandise Inventory 44,700 Store Supplies 6,200 Store Equipment 85,000 Accumulated Depr - Store Equip $22,000 Delivery Equipment 48,000 Accumulated Depr - Del Equip 6,000 Notes Payable 51,000 Accounts Payable 48,000 Terry Manning, Capital 110,000 Terry Manning, Drawing 12,000 Sales 755,000 Sales Returns and Allowances 8,800 Cost of Goods Sold 497,400 Salaries Expense 140,000 Advertising Expense 24,400 Utilities Expense 14,000 Repair Expense 12,100 Delivery Expense 16,700 Rent Expense 24,000 Totals $992,000 $992,000 Store Supplies Expense Depreciation Expense- Store Equipment Depreciation Expense- Delivery Equipment Interest Expense Interest Payable Totals Net Income Totals Key: (a) Store supplies used, (b) Depreciation expense - store equipment, (c) Depreciation expense - delivery equipment, (d) Accrued interest payable, (e) Adjustment of inventory.
| The trial balance of Terry Manning Fashion Center contained the following accounts at November 30, the end of the company's fiscal year: | ||||||||||||||
| TERRY MANNING FASHION CENTER | ||||||||||||||
| Worksheet | ||||||||||||||
| For the Year Ended November 30, 2022 | ||||||||||||||
| Trial Balance | Adjustments | Adjusted Trial Balance | Income Statement | Balance Sheet | ||||||||||
| Account titles | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. | ||||
| Cash | $28,000 | |||||||||||||
| Accounts Receivable | 30,700 | |||||||||||||
| Merchandise Inventory | 44,700 | |||||||||||||
| Store Supplies | 6,200 | |||||||||||||
| Store Equipment | 85,000 | |||||||||||||
| Accumulated Depr - Store Equip | $22,000 | |||||||||||||
| Delivery Equipment | 48,000 | |||||||||||||
| Accumulated Depr - Del Equip | 6,000 | |||||||||||||
| Notes Payable | 51,000 | |||||||||||||
| Accounts Payable | 48,000 | |||||||||||||
| Terry Manning, Capital | 110,000 | |||||||||||||
| Terry Manning, Drawing | 12,000 | |||||||||||||
| Sales | 755,000 | |||||||||||||
| Sales Returns and Allowances | 8,800 | |||||||||||||
| Cost of Goods Sold | 497,400 | |||||||||||||
| Salaries Expense | 140,000 | |||||||||||||
| Advertising Expense | 24,400 | |||||||||||||
| Utilities Expense | 14,000 | |||||||||||||
| Repair Expense | 12,100 | |||||||||||||
| Delivery Expense | 16,700 | |||||||||||||
| Rent Expense | 24,000 | |||||||||||||
| Totals | $992,000 | $992,000 | ||||||||||||
| Store Supplies Expense | ||||||||||||||
| Depreciation Expense- Store Equipment | ||||||||||||||
| Depreciation Expense- Delivery Equipment | ||||||||||||||
| Interest Expense | ||||||||||||||
| Interest Payable | ||||||||||||||
| Totals | ||||||||||||||
| Net Income | ||||||||||||||
| Totals | ||||||||||||||
| Key: (a) Store supplies used, (b) Depreciation expense - store equipment, (c) Depreciation expense - delivery equipment, (d) Accrued interest payable, (e) Adjustment of inventory. |
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
