Question

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

WATERWAY FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2017
		Debit			Credit
Cash		$33,410
Accounts Receivable		37,150
Inventory		48,450
Supplies		8,950
Equipment		139,900
Accumulated Depreciation-Equipment					$26,520
Notes Payable					54,450
Accounts Payable					51,950
Common Stock					93,450
Retained Earnings					11,450
Sales Revenue					765,360
Sales Returns and Allowances		4,200
Cost of Goods Sold		495,400
Salaries and Wages Expense		138,400
Advertising Expense		27,660
Utilities Expenses		15,600
Maintenance and Repairs Expense		12,100
Delivery Expense		16,700
Rent Expense		25,260
Totals		$1,003,180			$1,003,180

Adjustment data:

1.		Supplies on hand totaled $4,950.
2.		Depreciation is $16,890 on the equipment.
3.		Interest of $11,720 is accrued on notes payable at November 30. Please Prepare an adjusted Trial Balances

Answer 1

We have 3 adjustments here:-

Below is the answer

1.Add in the head of Supplies, Supplies on hand totaled $4,950. So the total Supplies will bcome 8,950+4950 =13900

2.Deduct the Dep amount of 16,890 from Total equipment 139,900 so the Equipment amount would be 123010.

and add the dep amount on Accumulated Depreciation of 16890 , and Show Debit amount for Depreciation amount of 16890

3.Interest of $11,720 is accrued on notes payable at November 30.Please do not include this amount in TB.

Please rearrange all the net amount with the above adjusted amount it ill become your Adjusted TB.