Question

Income statement Dr. Cr. Balance sheet Dr. Cr. $ 20,800 $ 30,800 $ 43,300 $ 2,200 $ 131,000 $ 39,500 $ 57,200 $ 51,300 $ 92.000 $ 10,500 Work Sheet Trial Balance Adjustements Adjusted Trial Balance Dr. Cr. Dr. Cr. Dr. Cr. $ 20,800 $ 20,800 $ 30,800 30.800 $ 43,600 $ 300 43,300 $ 6,200 $ 4,000 2,200 $ 131,000 131,000 $ 28,000 $ 11,500 $ 39,500 S 51,500 $ 5.700 S 57,200 $ 51,300 S 51,300 $ 92,000 $ 92,000 $ 10,500 10,500 $ 755,200 $ 755,200 S 8,800 8.800 $ 497,100 300 497,400 $ 139,600 139,600 $ 24,100 $ 24,100 $ 13,500 13,500 $ 12,000 12.000 $ 16,500 $ 16,500 $ 23,500 23,500 $ 4,000 4,000 $ 11,500 11,500 $ 5,700 5,700 $ 978.000 S 978.000 $ 21,500 $ 21,500 $ 995,200 $ 995,200 Account Titiles Cash Accounts receivables Inventory Supplies Equipment Accumulated depreciation - Equipment Notes Payable Accounts Payable Owners Capital Owner's Drawings Sales Revenue Sales Returns and Allownces Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-out Rent Expense Supplies Expense Depteciation Expense Interest Expense Totals Totals Net Income Totals S 755,200 $ $ 8,800 $ 497,400 $ 139,600 $ 24,100 $ 13,500 $ 12.000 $ 16,500 $ 23,500 $ 4,000 $ 11,500 $ 5,700 $ 756,600 $ 755,200 $ 238,600 $ 240,000 S (1,400)| $ (1,400) $ 755,200 $ 755,200 $ 238,600 / $ 238.600

Answer 1

$ $ $ $ $ 755,200 8.800 746,400 497,400 249,000 PINA FASHION CENTER Income Statement For the Year Ended November 30, 2020 Revenue Sales Revenue Less: Sale returns and allowences Net Sles Cost of Goods sold Gross Profit Operating expenses Salaries and wages expensse $ 139,600 Advertising Expense $ 24,100 Utilities expenses $ 13,500 Maintenance and repair charges 12,000 Freight Out $ 16,500 Rent Expense 23,500 Supplies Expense 4,000 Depreciation Expense $ 11,500 Total Operating Expenses Net Operating Income Non-Operating Expensse Interest Expenses Net Loss $ $ 244,700 4.300 $ 5,700 (1.400) $

PINA FASHION CENTER Statement of Owner's Equity For the Year Ended November 30, 2020 Owners Capital, Novemeber 30,2019 Less: Net Loss $ $ $ $ $ 92,000 (1,400) 90,600 10,500 80,100 Less: Owner's Drawings Owners Capital, Novemeber 30,2020

$ 97,100 PINA FASHION CENTER Balance sheet November. 30.2020 Assets Current Assets Cash $ 20,800 Accounts Reeivable $ 30.800 Inventory $ 43,300 Supplies $ 2,200 Total Current assets Property, plant and Equipment Equipment $ 131,000 Less: Accumulated Depreciation $ 39,500 Total assets Liabilities and Owner's Equity Current Liabilities Accounts Payable $ 51,300 Notes payable $ 19.000 Total current liabilities $ 70,300 Long Term Liabilities Notes payable 38.200 Total Liabilities Owner's Equity Owners Capital $ 80,100 Total Owner's Equity Liabilities and Owner's Equity $ $ 91,500 188,600 $ 108,500 $ $ 80,100 188.600