The trial balance of Bellemy Fashion Center contained the following accounts at November 30, the end of the company’s fiscal year.

                                

Adjustment data:
  1. Supplies on hand totaled $1,500.
  2. Depreciation is $15,000 on the equipment.
  3. Interest of $11,000 is accrued on notes payable at November 30.

Other data:
  1. Salaries expense is 70% selling and 30% administrative.
  2. Rent expense and utilities expenses are 80% selling and 20% administrative.
  3. $30,000 of notes payable are due for payment next year.
  4. Maintenance and repairs expense is 100% administrative.

Instructions
  (a) Journalize the adjusting entries.
  (b) Prepare an adjusted trial balance.
  (c) Prepare a multiple-step income statement and retained earnings statement for the year and a classified balance sheet as of November 30, 2014.
  (d) Journalize the closing entries.
  (e) Prepare a post-closing trial balance.