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.

TERRY MANNING FASHION CENTER Trial Balance November 30, 2011 Debit Credit $ 28.700 30.700 44.700 6.200 85.000 Cash Accounts Receivable Merchandise Inventory Store Supplies Store Equipment Accumulated Depreciation-Store Equipment Delivery Equipment Accumulated Depreciation-Delivery Equipment Notes Payable Accounts Payable Share CapitalOrdinary Retained Earnings Dividends Sales Sales Returns and Allowances Cost of Goods Sold Salaries Expense Advertising Expense Utilities Expense Repair Expense Delivery Expense Rent Expense 22.000 48.000 6.000 51.000 48.500 80.000 30.000 2.000 755.200 8.800 497.400 140.000 24.400 14.000 12.100 16.700 24.000 992.700 Totals $992.700