The trial balance of Terry manning Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.Adjustment data:1. Store supplies on hand totaled $2,500.2. Depreciation is $9.000 on the store equipment and $5,000 on the delivery equipment.3. Interest of $4.080 is accrued on notes payable t November 30.4. Merchandise inventory actually on hand is $44.400.Instructions(a) Enter the trial balance on a worksheet, and complete the worksheet(b) Prepare an income Statement and a retained earnings statement for the year, and a classified statement of financial position as o November 30, 2011. Notes payable of $30.000 are due in January 2012.(c) Journalize the adjusting entries.(d) Journalize the closing entries. (e) Prepare a post-dosing trialbalance.
The trial balance of Terry manning Fashion Center contained the following