HW #1 ch. 3 - P3-4aDateEntryDr.Cr.Nov. 30Store supplies...

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Unformatted text preview: P3-4aDateEntryDr.Cr.Nov. 30Store supplies expense4000store supplies400030 dep. Exp.-store equip.9000Accum. Dep- Store Equip.900030Dep. Exp.-Delivery Equip.6000Delivery Equip.600030 Interest Expense11000Interest payable11000P3-4bBELLEMY FASHION CENTERAdjusted Trial BalanceAs of November 30, 2010Dr.Cr.Cash28700Accounts Rec.33700Merch. Inv.45000Store Supplies1500Store Equipment85000Accum. Dep-Store Equip27000Delivery Equip.48000Accum. Dep-Delivery Equip12000Notes Payable51000Accounts Payable48500Common Stock90000Retained Earnings8000Sales757200Sales Returns and Allow4200Cost of Goods Sold495400Salaries Expense140000Advertising Expense26400Utilities Expense14000Repair Expense12100Delivery Expense16700Rent Expense24000Store Supplies Expense4000Dep. Exp-Store Equip.9000Dep. Exp-Delivery Equip.6000Interest Expense11000Interest Payable11000Totals10047001004700P3-4cBELLEMY FASHION CENTERIncome StatementFor the Year Ended November 30, 2010Sales RevenueSales757200Less: Sales returns and allow.4200Net sales753000Cost of goods sold495400Gross profit257600Operating expensesSelling ExpensesSalaries expenses98000Advertising Expense26400Rent expense19200Delivery expense16700Utilities Expense11200Dep. Exp-Store equip9000Dep. Exp-Delivery Equip.6000Store Supplies Expense4000Total Selling Expenses190500Administrative ExpensesSalaries expenses42000Repair expense12100Rent expense4800Utilities Expense2800Total Admin. Expenses61700Total Operating Expenses252200Income from Operations5400Other ExpensesInterest Expense11000Net loss-$5,600BELLEMY FASHION CENTERRetained Earnings StatementFor the Year Ended November 30, 2010Retained Earnings, Dec 1, 2009$8,000Less: Net loss-5600...
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HW #1 ch. 3 - P3-4aDateEntryDr.Cr.Nov. 30Store supplies...

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