Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 10.00

Terry Manning Fashion Center

The trial balance of Terry Manning Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.

 

TERRY MANNING FASHION CENTER
Trial Balance
November 30, 2010

  
 

Debit

Credit

Cash

$28,700

  

Accounts Receivable

30,700

  

Merchandise Inventory

44700

  

Store Supplies

6,200

  

Store Equipment

85000

  

Accumulated Depreciation—Store Equipment

  

$22,000.00

Delivery Equipment

48,000

  

Accumulated Depreciation—Delivery Equipment

  

6,000

Notes Payable

  

51,000

Accounts Payable

  

48,500

Terry Manning, Capital

  

110,000

Terry Manning, Drawing

12000

  

Sales

  

755,200

Sales Returns and Allowances

8,800

  

Cost of Goods Sold

497,400

  

Salaries Expense

140,000

  

Advertising Expense

24,400

  

Utilities Expense

14,000

  

Repair Expense

12,100

  

Delivery Expense

16,700

  

Rent Expense

24,000

  

Totals

$992,700

$992,700

Adjustment data:

1. Store supplies on hand totaled $2,500.

2. Depreciation is $9,000 on the store equipment and $5,000 on the delivery equipment.

3. Interest of $4,080 is accrued on notes payable at November 30.

4. Merchandise inventory actually on hand is $44,400.

Instructions

(a) Enter the trial balance on a worksheet, and complete the worksheet.

(b) Prepare a multiple-step income statement and an owner’s equity statement for the year, and a classified balance sheet as of November 30, 2010. Notes payable of 30,000 are due in January 2011.

(c) Journalize the adjusting entries.

(d) Journalize the closing entries.

(e) Prepare a post-closing trial balance.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 03:09 PM My Price 10.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)