Question

The trial balance of Bramble Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year. BRAMBLE FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Credit Cash $33,320 Accounts Receivable 37,090 Inventory 48,390 Supplies 8,890 Equipment 139,780 Accumulated Depreciation-Equipment $26,460 Notes Payable 54,390 Accounts Payable 51,890 Common Stock 93,390 Retained Earnings 11,390 Sales Revenue 765,210 Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,480 Advertising Expense 27,630 Utilities Expenses 15,520 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,230 Totals $1,002,730 $1,002,730 Adjustment data: 1. Supplies on hand totaled $4,890. 2. Depreciation is $16,845 on the equipment. 3. Interest of $10,310 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. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative.

(a) 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 0 for the amounts. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 2. Nov. 30 3. Nov. 30 Click if you would like to Show Work for this question: Open Show Work

Answer 1

Solution a:

Journal Entries
Date	Particulars	Debit	Credit
30-Nov	Supplies expense Dr ($8,890 - $4,890)	$4,000.00
	To Supplies		$4,000.00
	(To record supplies expense)
30-Nov	Depreciation expense Dr	$16,845.00
	To Accumulated depreciation - Equipment		$16,845.00
	(To record depreciation expense)
30-Nov	Interest expense Dr	$10,310.00
	To Interest payable		$10,310.00
	(To record interest expense accrued)