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question the trial balance of novak corp contained the following accounts at novembe 4289699

Question

The trial balance of Novak Corp. contained the following accounts at November 30, the end of the company’s fiscal year.

Novak Corp.

Trial Balance

November 30, 2019

Debit

Credit

$ 8,800

29,700

45,200

6,200

135,000

$ 29,000

51,000

50,400

45,000

10,000

756,000

9,000

497,100

139,800

24,000

13,900

11,800

16,800

24,100

$971,400

$971,400

 

Adjustment data:

Novak Corp.

Trial Balance

November 30, 2019

 

 

Debit

 

Credit

Cash

 

$ 8,800

 

 

Accounts Receivable

 

29,700

 

 

Inventory

 

45,200

 

 

Supplies

 

6,200

 

 

Equipment

 

135,000

 

 

Accumulated Depreciation—Equipment

 

 

 

$ 29,000

Notes Payable

 

 

 

51,000

Accounts Payable

 

 

 

50,400

Common Stock

 

 

 

45,000

Retained Earnings

 

 

 

40,000

Dividends

 

10,000

 

 

Sales Revenue

 

 

 

756,000

Sales Returns and Allowances

 

9,000

 

 

Cost of Goods Sold

 

497,100

 

 

Salaries and Wages Expense

 

139,800

 

 

Advertising Expense

 

24,000

 

 

Utilities Expense

 

13,900

 

 

Maintenance and Repairs Expense

 

11,800

 

 

Freight-Out

 

16,800

 

 

Rent Expense

 

24,100

 

 

  Totals

 

$971,400

 

$971,400

         

Novak corp. Worksheet Trial Balance Account Title Balance sheet Unadj. T/BAdjustments Dr 8800 29700 45200 6200 Adj. T/BIncome statement Dr. Cr. Dr. 8800 29700 300 44900 4000 2200 135000 8800 29700 44900 2200 135000 AR Inventory Supplies Equipment Accumulated dep.- equipment Notes payable Accouts payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances COGS Salaries and wages exp Advertising Expense Utilities exp Maintenance and Repairs Expe Freight-Out Rent Expense Supplies exp Dep. Exp Interest exp Interest payable Totals Net loss 135000 13000 42000 51000 42000 51000 51000 45000 45000 45000 10000 10000 10000 756000 756000 756000 9000 497100 139800 9000 497400 139800 9000 497400 139800 300 13900 11800 16800 24100 13900 11800 16800 24100 4000 13000 13900 11800 16800 24100 4000 13000 13000 4000 2400 1800 0600 971400 971400 21300 21300 988400 988400757800756000 600 1800 756000 756000 600

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