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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 $ 28,700 Cash Accounts Receivable 33,700 Inventory S
Adjustment data:
1. Supplies on hand totaled $1,500.
2. Depreciation is $15,000 on the equipment.
3. Interest of $11,000 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.
Instructions
(a) Journalize the adjusting entries.
(b) Prepare an adjusted trial balance.
(c) Prepare a multiple-step income statement and retained earnings statement for the year and a classified balance sheet as of November 30, 2012.
(d) Journalize the closing entries.
(e) Prepare a post-closing trialbalance.
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