Accumulated depreciation equipment 15000 30 interest

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Accumulated Depreciation—Equipment................................................................................15,00030Interest Expense..................................................................................11,000Interest Payable...........................................................................11,000
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(b)BELLEMY FASHION CENTERAdjusted Trial BalanceNovember 30, 2017Dr.Cr.Cash...............................................................................$ 28,700Accounts Receivable....................................................33,700Inventory........................................................................45,000Supplies.........................................................................1,500Equipment......................................................................133,000Accumulated Depr.— Equipment...............................$ 39,000Notes Payable................................................................51,000Accounts Payable.........................................................48,500Common Stock..............................................................90,000Retained Earnings.........................................................8,000Sales Revenue...............................................................757,200Sales Returns and Allowances....................................4,200Cost of Goods Sold.......................................................495,400Salaries and Wages Expense.......................................140,000Advertising Expense.....................................................26,400Utilities Expenses.........................................................14,000Maintenance and Repairs Expense.............................12,100Delivery Expense..........................................................16,700Rent Expense................................................................24,000
Supplies Expense.........................................................4,000Depreciation Expense...................................................15,000Interest Expense...........................................................11,000Interest Payable.............................................................11,000Totals........................................................................$1,004,700$1,004,700
(c)BELLEMY FASHION CENTERIncome StatementFor the Year Ended November 30, 2017Sales revenueSales.........................................................................$757,200Less: Sales returns and allowances....................................................4,200Net sales...................................................................753,000Cost of goods sold.............................................................495,400Gross profit.........................................................................257,600Operating expensesSelling expensesSalaries and wages expense($140,000 X 70%)........................................$98,000Advertising expense......................................26,400Rent expense($24,000 X 80%)..........................................19,200Delivery expense............................................16,700Utilities expenses($14,000 X 80%)........................11,200Depreciation Expense....................................15,000Supplies expense...........................................4,000Total selling expenses............................$190,500Administrative expenses
Salaries and wages expense($140,000 X 30%)........................................42,000Maintenance and Repairs Expense........................................................12,100Rent expense($24,000 X 20%)..........................................4,800Utilities expenses($14,000 X 20%)..........................................2,800Total admin. expenses............................61,700Total oper. expenses.........................252,200Income from operations...................................................5,400Other expenses and lossesInterest expense......................................................11,000Net loss..............................................................................($ 5,600)

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