Rosiak Fashion Center Trial Balance November 30, 2025
Debit:
Cash 8,700
Accounts Receivable 27,700
Inventory 44,700
Supplies 6,200
Equipment 133,000
Accumulated Depreciation-Equipment
Notes Payable
Accounts Payable
Share Capital-Ordinary
Retained Earnings
Dividends 8,000
Sales Revenue
Sales Returns and Allowances 12,800
Cost of Goods Sold 497,400
Salaries and Wages Expense 136,000
Advertising Expense 24,400
Utilities Expense 14,000
Maintenance and Repairs Expense 12,100
Freight-Out 16,700
Rent Expense 24,000
Totals 965,700
Credit:
Accumulated Depreciation—Equipment 23,000
Notes Payable 51,000
Accounts Payable 48,500
Share Capital—Ordinary 50,000
Retained Earnings 38,000
Sales Revenue 755,200
Totals 965,700
Adjustment data:
1. Supplies on hand totaled 2,100.
2. Depreciation is 11,500 on the equipment.
3. Interest of 4,000 is accrued on notes payable at November 30.
4. Inventory actually on hand is 44,520.
Instructions:
a. Enter the trial balance on a worksheet, and complete the worksheet.
a. Adj. trial balance 981,200
Net loss 1,980
b. Journalize the adjusting entries.
c. Prepare an income statement and a retained earnings statement for the year, and a classified statement of financial position as of November 30, 2025.
c. Gross profit 244,820
Total assets 181,520
d. Journalize the closing entries.
e. Prepare a post-closing trial balance.