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The trial balance of Nue Spruce Corp. contained the following accounts at November 30, the ex Trial Balance November 30, 2020 Credit Debit $ 8,500 28,600 2,500 6.100 131,000 $ 27,000 50,500 39,400 50.000 10,000 10,500 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Pavable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-Out Rent Expense Totals 755,800 8,800 497,400 139,600 24,000 13,900 11,600 16,400 23,800 $962,700 5962,700 Adjustment data: 1. Supplies on hand totaled $2,500. 2. Depreciation is $14,000 on the equipment, 3. Interest of $1,000 is accrued on notes payable at November 30. 4. Inventory actually on hand $41,800. For n. Der Payable Camman Stock 355.2 Sardegna Advertising Prighe- Rare

Answer 1

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Blue Spruce Corp.
Adjusted Trial Balance	Unadjusted	Adjustments	Adjusted	Income Statement	Balance Sheet
Account Titles	Debit	Credit	Debit	Credit	Debit	Credit	Debit	Credit	Asset	Liabilities	Remarks
Cash	8,500.00				8,500.00				8,500.00
Accounts Receivable	28,600.00				28,600.00				28,600.00
Inventory	42,500.00			700.00	41,800.00				41,800.00		Inventory in hand is $ 41,800. So balance of $ 42,500 less $ 41,800 i.e. $700 will be cost of goods sold.
Supplies	6,100.00			3,600.00	2,500.00				2,500.00		Supplies in hand is $ 2,500. So balance of $ 6,100 less $ 3,600 i.e. $ 2,500 will be supplies expense.
Equipment	131,000.00				131,000.00				131,000.00
Accumulated Depreciation- Equipment		27,000.00		14,000.00		41,000.00			(41,000.00)
Notes payable		50,500.00				50,500.00				50,500.00
Accounts Payable		39,400.00				39,400.00				39,400.00
Interest payable				4,000.00		4,000.00				4,000.00
Common Stock		50,000.00				50,000.00				50,000.00
Common Stock		40,000.00				40,000.00				40,000.00
Dividends	10,500.00				10,500.00					(10,500.00)
Sales Revenue		755,800.00				755,800.00		755,800.00
Sales Returns and allowances	8,800.00				8,800.00		8,800.00
Cost of goods sold	497,400.00		700.00		498,100.00		498,100.00				Inventory in hand is $ 41,800. So balance of $ 42,500 less $ 41,800 i.e. $700 will be cost of goods sold.
Salaries and Wages Expense	139,600.00				139,600.00		139,600.00
Advertising Expense	24,000.00				24,000.00		24,000.00
Depreciation Expense- Equipment			14,000.00		14,000.00		14,000.00
Utilities Expense	13,900.00				13,900.00		13,900.00
Maintenance and Repairs Expense	11,600.00				11,600.00		11,600.00
Freight Out	16,400.00				16,400.00		16,400.00
Rent Expense	23,800.00				23,800.00		23,800.00
Interest Expense			4,000.00		4,000.00		4,000.00
Insurance expense					-		-
Supplies Expense			3,600.00		3,600.00		3,600.00				Supplies in hand is $ 2,500. So balance of $ 6,100 less $ 3,600 i.e. $ 2,500 will be supplies expense.
Total	962,700.00	962,700.00	22,300.00	22,300.00	980,700.00	980,700.00	757,800.00	755,800.00
Net Loss								2,000.00		(2,000.00)
Total	962,700.00	962,700.00	22,300.00	22,300.00	980,700.00	980,700.00	757,800.00	757,800.00	171,400.00	171,400.00