Question

The trial balance of Blue Spruce Corp.contained the following accounts at November 30, the end of the company's fiscal year. The company uses the perpetual inventory system. Blue Spruce Corp Trial Balance November 30, 2022 Credit Debit $8.500 28,600 42,500 6,100 131,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense $ 27.000 50,500 39,400 50,000 40,000 10.500 755,800 8.800 497.400 139.600

Answer 1

Income Statement Debit Credit Adjustment Debit Credit $ $ S 700 $ $ 3,600 $ $ $ 14,000 LIII Cash Accounts Receivable Inventory Supplies Equipment Accumu. Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenues Sales Return and Allowances Cost of goods sold Salaries and Wages Expense Advertising Expense Utilities Expenses Maintenance and Repairs Expense Freight-out Rent Expense Trial Balance Debit Credit $ 8,500 $ 28,600 $ 42,500 $ 6,100 $ 1,31,000 S 27,000 $ 50,500 S 39,400 S 50,000 S 40,000 $ 10,500 $ 7,55,800 $ 8,800 $ 4,97,400 $ 1,39,600 $ 24,000 $ S 13,900 $ 11,600 $ 16,400 $ 23,800 $ 9,62,700 $ 9,62,700 Balance Sheet Debit Credit $ 8,500 $ 28,600 $ 41,800 S $ 2,500 $ 1,31,000 $ 41,000 S 50,500 $ 39,400 $ 50,000 $ 27,500 Adjusted Tria Balance Debit Credit 8,500 28,600 41,800 2,500 1,31,000 $ 41,000 $ 50,500 $ 39,400 S 50,000 $ 40,000 10,500 $ 7,55,800 8,800 4,98,100 1,39,600 24,000 13,900 11,600 16,400 23,800 $ $ 7,55,800 $ 700 $ S $ $ $ $ $ $ $ S $ $ $ $ $ $ $ 8,800 4,98,100 1,39,600 24,000 13,900 11,600 16,400 23,800 Supplies Expenses Depreciation Expense Interest Expense Interest Payable $ $ $ 3,600 $ 14,000 4,000 $ $ 4,000 22,300 $ 22,300 $ 3,600 S 14,000 $ 4,000 $ $ 4,000 9,80,700$ 9,80,700$ 3,600 14,000 4,000 $ 4,000 7,57,800 $ 7,55,800 $ 2,000 7,57,800 $ 7,57,800 $ 2,12,400 $ 2,12,400 $ Net Loss $

Retained Earnings
Beginning balance	$           40,000
Less:
Net Loss	$              2,000
Dividends	$           10,500
	$           27,500

-----

Hope you Understood.
If you have any doubt feel free to ask.
Thank you.