July

1 inventory 1620
A/P 1620
3 A/R 2200
sales revenue 2200
COGS 1400
inventory 1400
9 A/P 1620
inventory 32.4
cash 1587.6
12 cash 2178
sales disc 22
A/R 2200
17 A/R 1400
sales revenue 1400
COGS 1030
inventory 1030
18 inventory 1900
A/P 1900
inventory 125
cash 125
20 A/P 300
inventory 300
21 cash 1386
sales disc 14
A/R 1400
22 A/R 2400
sales revenue 2400
COGS 1350
inventory 1350
30 A/P 1600
cash 1600
31 sales return & Allow 200
A/R 200
inventory 120
COGS 120
 closing entries
sales revenue
income summary
1 supplies exp 4100
supplies 4100 income summary
2 depr exp 11500 sales return & allow
accum depr 11500 cost of good sold
3 interest exp 4000 salaries & wages exp
interest pyb 4000 advertising exp
4 COGS 180 utilities exp
inventory 180 maintenace & repair exp
Freight Out
Rent Expense
depreciation exp
supplies exp
interest exp

retained earning
income summary
retained earning
dividend

Trial Balance Adjustments adj trial blc

Accounts Dr Cr Dr Cr Dr
cash 8,700 8,700
account receivable 27,700 27,700
inventory 44,700 180 44,520
supplies 6,200 4,100 2,100
Equipment 133,000 133,000
Accum. Depr Equipt 23,000 11,500
Notes Payable 51,000
Account Payable 48,500
Share cap-ordinary 50,000
retained earning 38,000
dividends 8,000 8,000
sales revenue 755,200
sales return & allow 12,800 12,800
Cost of good sold 497,400 180 497,580
salaries & wages exp 136,000 136,000
advertising exp 24,400 24,400
utilities exp 14,000 14,000
maintenace & repair exp 12,100 12,100
Freight Out 16,700 16,700
Rent Expense 24,000 24,000
965,700 965,700
supplies expense 4,100 4,100
depreciation exp 11,500 11,500
interest exp 4,000 4,000
interest payable 4,000

19,780 19,780 981,200

cash 8,700
account receivable 27,700
inventory 44,520
supplies 2,100
Equipment 133,000
Accum. Depr Equipt 34,500
Notes Payable 51,000
Account Payable 48,500
interest payable 4,000
Share cap-ordinary 50,000
retained earning 28,020
216,020 216,020
closing entries MR. Rosiak Fashion Center, LTD
sales revenue 755,200 Income Statement
income summary 755,200 for the month ended november 30 2017
sales revenue 755,200
income summary 757,180 sales return & allow 12,800
sales return & allow 12,800 net sales 742,400
cost of good sold 497,580 cost of good sold 497,580
salaries & wages exp 136,000 gross profit 244,820
advertising exp 24,400 operating expenses
utilities exp 14,000 salaries & wages exp 136,000
maintenace & repair exp 12,100 advertising exp 24,400
Freight Out 16,700 utilities exp 14,000
Rent Expense 24,000 maintenace & repair exp 12,100
depreciation exp 11,500 Freight Out 16,700
supplies exp 4,100 Rent Expense 24,000
interest exp 4,000 depreciation exp 11,500
supplies exp 4,100
retained earning 1,980 total operating exp 242,800
income summary 1,980 income from ops 2,020
retained earning 8,000 interest expense 4,000
dividend 8,000 net loss -1,980

adj trial blc income stats stat of FP MR. Rosiak Fashion Center, LTD
Cr Dr Cr Dr Cr Retained Earning Statement
8,700 for the month ended november 30 2017
27,700 retained earning 1/11/17 38,000
44,520 net loss 1,980
2,100 dividend 8,000
133,000 retained earning 30/11/17 28,020
34,500 34,500
51,000 51,000 MR. Rosiak Fashion Center, LTD
48,500 48,500 Statement of Financial Position
50,000 50,000 november 30 2017
38,000 38,000 current assets
8,000 cash 8,700
755,200 755,200 account receivable 27,700
12,800 inventory 44,520
497,580 supplies 2,100
136,000 total current assets 83,020
24,400 PPE
14,000 equipment 133,000
12,100 accum depr-equipment 34,500
16,700 total PPE 98,500
24,000 total assets 181,520
equity & liabilities
 4,100 current liabilities
11,500 interest payable 4,000
4,000 account payable 48,500
4,000 4,000 notes payable 6,000
total current liabilities 58,500
981,200 757,180 755,200 224,020 226,000 non current liabilities
1,980 1,980 notes payable 45,000
757,180 757,180 226,000 226,000 equity
share cap-ordinary 50,000
retained earning 28,020
78,020
total liabilities and equities 181,520