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The trial balance of bellemy fashion center

30/12/2020 Client: saad24vbs Deadline: 3 days


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


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: 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


Don't show me this message again for the assignment


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


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Selling expenses


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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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