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The trial balance of bellemy fashion center

15/10/2021 Client: muhammad11 Deadline: 2 Day

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

BELLEMY FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2012

Debit

Credit

Cash

$33,580

Accounts Receivable

37,370

Inventory

48,670

Supplies

9,170

Equipment

140,340

Accumulated Depreciation—Equipment

$26,420

Notes Payable

54,670

Accounts Payable

52,170

Common Stock

93,670

Retained Earnings

11,670

Sales Revenue

765,750

Sales Returns and Allowances

4,200

Cost of Goods Sold

495,400

Salaries and Wages Expense

138,360

Advertising Expense

27,610

Utilities Expenses

15,640

Maintenance and Repairs Expense

12,100

Freight-out

16,700

Rent Expense

25,210

$1,004,350

$1,004,350

Adjustment data:

1.

Supplies on hand totaled $5,170.

2.

Depreciation is $16,815 on the equipment.

3.

Interest of $15,110 is accrued on notes payable at November 30.

Other data:.

1.

Salaries expense is 70% selling and 30% administrative.

2.

Rent expense and utilities expense 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.

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Collapse question part

(a)

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Correct answer.

Your answer is correct.

Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.

Account Titles and Explanation

Debit

Credit

1.

Entry field with correct answerSupplies Expense

Entry field with correct answer4,000

Entry field with correct answer

Entry field with correct answerSupplies

Entry field with correct answer

Entry field with correct answer4,000

2.

Entry field with correct answerDepreciation Expense

Entry field with correct answer16,815

Entry field with correct answer

Entry field with correct answerAccumulated Depreciation - Equipment

Entry field with correct answer

Entry field with correct answer16,815

3.

Entry field with correct answerInterest Expense

Entry field with correct answer15,110

Entry field with correct answer

Entry field with correct answerInterest Payable

Entry field with correct answer

Entry field with correct answer15,110

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Click if you would like to Show Work for this question:

Open Show Work

Show List of Accounts

SHOW ANSWER HIDDEN

Show Answer

Link to Text

By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.

Attempts: 1 of 5 used

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(b)

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Correct answer.

Your answer is correct.

Prepare an adjusted trial balance.

BELLEMY FASHION CENTER Adjusted Trial Balance November 30, 2012

Debit

Credit

Entry field with correct answerCash

$ Entry field with correct answer33,580

$ Entry field with correct answer

Entry field with correct answerAccounts Receivable

Entry field with correct answer37,370

Entry field with correct answer

Entry field with correct answerInventory

Entry field with correct answer48,670

Entry field with correct answer

Entry field with correct answerSupplies

Entry field with correct answer5,170

Entry field with correct answer

Entry field with correct answerEquipment

Entry field with correct answer140,340

Entry field with correct answer

Entry field with correct answerAccumulated Depreciation - Equipment

Entry field with correct answer

Entry field with correct answer43,235

Entry field with correct answerNotes Payable

Entry field with correct answer

Entry field with correct answer54,670

Entry field with correct answerCommon Stock

Entry field with correct answer

Entry field with correct answer93,670

Entry field with correct answerRetained Earnings

Entry field with correct answer

Entry field with correct answer11,670

Entry field with correct answerSales Revenue

Entry field with correct answer

Entry field with correct answer765,750

Entry field with correct answerSales Returns and Allowances

Entry field with correct answer4,200

Entry field with correct answer

Entry field with correct answerCost of Goods Sold

Entry field with correct answer495,400

Entry field with correct answer

Entry field with correct answerSalaries and Wages Expense

Entry field with correct answer138,360

Entry field with correct answer

Entry field with correct answerAdvertising Expense

Entry field with correct answer27,610

Entry field with correct answer

Entry field with correct answerUtilities Expenses

Entry field with correct answer15,640

Entry field with correct answer

Entry field with correct answerMaintenance and Repairs Expense

Entry field with correct answer12,100

Entry field with correct answer

Entry field with correct answerFreight-out

Entry field with correct answer16,700

Entry field with correct answer

Entry field with correct answerRent Expense

Entry field with correct answer25,210

Entry field with correct answer

Entry field with correct answerSupplies Expense

Entry field with correct answer4,000

Entry field with correct answer

Entry field with correct answerDepreciation Expense

Entry field with correct answer16,815

Entry field with correct answer

Entry field with correct answerInterest Expense

Entry field with correct answer15,110

Entry field with correct answer

Entry field with correct answerInterest Payable

Entry field with correct answer

Entry field with correct answer15,110

Entry field with correct answerAccounts Payable

Entry field with correct answer

Entry field with correct answer52,170

$ Entry field with correct answer1,036,275

$ Entry field with correct answer1,036,275

Warning

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Ok

Cancel

Click if you would like to Show Work for this question:

Open Show Work

Show List of Accounts

SHOW ANSWER HIDDEN

Show Answer

Link to Text

By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor.

Attempts: 2 of 5 used

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Collapse question part

(c1)

Prepare a multiple-step income statement for the year.

BELLEMY FASHION CENTER Income Statement For the Year Ended November 30, 2012

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Selling expenses

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$http://edugen.wiley.com/edugen/art2/common/pixel.gif

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$http://edugen.wiley.com/edugen/art2/common/pixel.gif

Administrative expenses

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$http://edugen.wiley.com/edugen/art2/common/pixel.gif

Sales Retu

4,200

Cost of Go

495,400

Supplies Expe

Salaries an

138,360

Advertising

27,610

Utilities Exp

15,640

Maintenanc

12,100

4,000

Freight-out

16,700

Rent Expen

25,210

Supplies Ex

4,000

Depreciatio

16,815

Interest Exp

15,110

Interest Pay

15,110

Accounts P

52,170

1,036,275

1,036,275

Supplies

4,000

Depreciation E

16,815

Accumulated D

16,815

Interest Expen

15,110

Interest Payab

15,110

Cash

33,580

Accounts R

37,370

Inventory

48,670

Supplies

5,170

Equipment

140,340

Accumulate

43,235

Notes Paya

54,670

Common St

93,670

Retained Ea

11,670

Sales Reve

765,750

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