Question

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 o for the amounts. Record journal entries in the order presented in the problem.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 Supplies Expense 4000 4000 Supplies 2. Nov. 30 3. Nov. 30 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT

Answer 1

Preparation of Adjusting Entries: Journal Entries Date Account Title and Explaination Post. Ref. Debit $ Credit $ $ 4,000.00 S 4,000.00 Nov.30 Supplies Expense ($8860 - $4860) Supplies (To record adjusting entry for consumption of Supplies) $ 16,770.00 $ Nov.30 Depreciation Expense Accumulated Depreciation - Equipment (To record adjusting entry for depreciation expense on Equipment) 16,770.00 $ 11,510.00 07 11,510.00 Nov.30 Interest Expense Interest Payable (To record Adjusting entry for accued interest expense)

Preparation of Adjusted Trial Balance: SUNLAND FASHION CENTER Adjusted Trial Balance November 30, 2020 Account Title Debit Credit Cash $ 33,240.00 Accounts Receivable $ 37,060.00 Inventory 48,360.00 Supplies $ 4,860.00 Equipment 139,720.00 Accumulated Depreciation - Equipment 43,130.00 Notes Payable 54,360.00 Accounts Payable 51,860.00 Interest Payable 11,510.00 Common Stock 93,360.00 Retained Earnings 11,360.00 Sales Revenue 765,100.00 Sales Returns and Allowances 4,200.00 Cost of Goods Sold $ 495,400.00 Salaries and Wages Expense 138,520.00 Advertising Expense $ 27,580.00 Depreciation Expense 16,770.00 Interest Expense 11,510.00 Utilities Expenses 15,480.00 Supplies Expense $ 4,000.00 Maintenance and Repairs Expense $ 12,100.00 Delivery Expense $ 16,700.00 Rent Expense 25,180.00 Totals $ 1,030,680.00 $1,030,680.00 ở 102 103 102 101 102 103