View Policies Current Attempt in Progress The trial balance of Metlock Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. Credit METLOCK FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,140 Accounts Receivable 36,970 Inventory 118.270 Supplies 8.770 Equipment 139.540 Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495.400 Salaries and Wages Expense 138,640 Advertising Expense 27.570 Utilities Expenses 15,360 Maintenance and Repairs Expense 12.100 Delivery Expense 16,700 Rent Expense 25.170 Totals $1,001,830 $26,340 54,270 51.770 93,270 11.270 764,910 $1,001830 Adjustment data: MacBook Pro Adjustment data: 1. 2. Supplies on hand totaled $4.770. Depreciation is $16,755 on the equipment. Interest of $11,850 is accrued on notes payable at November 30. 3. Other data: 1. 2 Salaries expense is 70% selling and 30% administrative. Rent expense and utilities expenses are 80% selling and 20% administrative. $30,000 of notes payable are due for payment next year. Maintenance and repairs expense is 100% administrative. 3. 4. 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 for the amounts. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 Cash 2 Nov. 30 3 Nov 30 Mindi MacBook Pro METLOCK FASHION CENTER Adjusted Trial Balance Debit Credit $ MacBook Pro number eg, -45 or parentheses eg. (451) METLOCK FASHION CENTER Income Statement Selling expenses Administrative expenses MacBook Pro Prepare retained earnings statement for the year. METLOCK FASHION CENTER Retained Earnings Statement e Textbook and Media List of Accounts METLOCK FASHION CENTER Balance Sheet Assets $ Liabilities and Stockholders' Equity $ e Textbook and Media List of Accounts Assistance Used MacBook Pro 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 account titles and enter for the amounts) Debit Credit No. Date Account Titles and Explanation Now 1 30 (To close accounts with credit balances) 2. Now 30 1 (Todose counts with debit balances) Nov 30 MacBook Pro Search Muty R 2 3 $ 4 5 1 6 7 00 9 o W W E R T Y U 1 o S D F G . J X V 00 N M. V - ? 8 and Question 4 of 5 > -/36 E METLOCK FASHION CENTER Post-Closing Trial Balance Debit Credit $ e Textbook and Media List of Accounts Automated MacBook Pro
