Date Account Titles and Explanation Ref.

Debit Credit
Inventory 120 6200
Apr-02 Account Payable 201
6200
Account Recievable 112 5500
Sales Revenue 401
Apr-04 COGS 505 3400 5500
Inventory 120
3400
Freight-out 644 240
Apr-05 Cash 101
240
Account Payable 201 500
Apr-06 Inventory 120 500

Account Payable 201 6200

Cash 101
Apr-11 Inventory 112 6138
62
Cash 101 5445
Sales discount 414 55
Apr-13 Account recievable 112
5500
Inventory 120 3800
Apr-14 Cash 101
3800
Cash 101 500
Apr-16 Inventory 120
500
Inventory 120 4500
Apr-18 Account Payable 201
4500
Inventory 120 160
Apr-20 Cash 101
160
Cash 112 7400
Sales Revenue 401
Apr-23 COGS 505 4120 7400
Inventory 120
4120
Inventory 120 2300
Apr-26 Cash 101
2300
 Account Payable 201 4500
Cash 101
Apr-27 Inventory 120 4410
90
Sales Return and Allowances 412 90
Cash 112
Apr-29 Inventory 120 30 90
COGS 505
30
Account Recievable 112 3400
Sales Revenue 401
Apr-30 COGS 505 1900 3400
Inventory 120
1900
 CASH
Date Explanation Ref Dr. Cr. Balance
Apr-01 Balance 8000 8000
Apr-05 J1 240 7760
Apr-11 J1 6138 1622
Apr-13 J1 5445 7067
Apr-14 J1 3800 3267
Apr-16 J1 500 3767
Apr-20 J1 160 3607
Apr-23 J1 7400 11007
Apr-26 J1 2300 8707
Apr-27 J1 4410 4297
Apr-29 J1 90 4207

Inventory
Date Explanation Ref Dr. Cr. Balance
Apr-02 J1 6200 6200
Apr-04 J1 3400 2800
Apr-06 J1 500 2300
Apr-11 J1 57 2243
Apr-14 J1 3800 6043
Apr-16 J1 500 5543
Apr-18 J1 4500 10043
Apr-20 J1 160 10203
Apr-23 J1 4120 6083
Apr-26 J1 2300 8383
Apr-27 J1 90 8293
Apr-29 J1 30 8323
Apr-30 J1 1900 6423

Sales Renturn and Allowances

Date Explanation Ref Dr. Cr. Balance
Apr-29 J1 90 90
 Frieght-Out
Date Explanation Ref Dr. Cr. Balance
Apr-05 J1 240 240

Income statement (partial)

For the month ended April 30, 2020
Sales:
Sale Revenue 16300
Less: Sales returns and allowances 90
Sales discount 50 145
Net sales 16155
 Share Capital-Ordinary
Date Explanation Ref Dr. Cr. Balance
Apr-01 Balance 8000 8000

Account Payable
Date Explanation Ref Dr. Cr. Balance
Apr-02 J1 6200 6200
Apr-06 J1 500 5700
Apr-11 J1 5700 0
Apr-18 J1 4500 4500
Apr-27 J1 4500 0

Sales Discount
Date Explanation Ref Dr. Cr. Balance
Apr-13 J1 55 55
 Account Recievable
Date Explanation Ref Dr. Cr. Balance
Apr-04 J1 5500 5500
Apr-11 J1 5500 0
Apr-30 J1 3400 3400

Sales Revenue
Date Explanation Ref Dr. Cr. Balance
Apr-04 J1` 5500 5500
Apr-23 J1 7400 12900
Apr-30 J1` 3400 16300

COGS
Date Explanation Ref Dr. Cr. Balance
Apr-04 J1 3400 3400
Apr-23 J1 4120 7520
Apr-29 J1 30 7490
Apr-30 J1 1900 9390
 Date Account Titles Debit Credit
Nov. 30 Supplies Expense 4,100
Supplies 4,100
30 Depreciation Expense 11,500
Accumulated Depreciation - Equipment 11,500
30 Interest Expense 4,000
Interest Payable 4,000
30 Cost of Goods Sold 180
Inventory 180
 ROSIAK FASHION CENTER
Income Statement
For the Year Ended November 30,2020

Sales
Sales revenue £755,200
Less: Sales returns and allowances 12,800
Net sales 742,400
Cost of goods sold 497,580
Gross profit 244,820
Operating expenses
Salaries and wages expense £136,000
Advertising expense 24,400
Rent expense 24,000
Freight-out 16,700
Utilities expense 14,000
Maintenance and repairs expense 12,100
Depreciation expense 11,500
Supplies expense 4,100
Total operating expenses 242,800
Income from operations 2,020
Interest expense 4,000
Net loss £1,980
 ROSIAK FASHION CENTER
Retained Earnings Statement
For the Year Ended November 30,2020

Retained Earnings, December 1, 2019 £38,000

Less: Net loss £1,980
Dividends 8,000 9,980
Retained Earnings, November 30, 2020 28,020
 ROSIAK FASHION CENTER
Statement of Financial Position
30-Nov-20

Assets
Property, plant and equipment
Equipment £133,000
Less: Accumulated depreciation-Equipment 34,500 £98,500
Current assets
Supplies 2,100
Inventory 44,520
Account Receivable 27,700
Cash 8,700 83,020
Total assets £181,520
Equity and Liabilities
Equity
Share capital-ordinary £50,000
Retained earnings 28,020 78,020
Non- current liabilities
Notes payable 45,000
Current liabilities
Notes payable(due next year) 6,000
Account payable 48,500
Interest payable 4,000 58,500
Total equity and liabilities £181,520
Date Account Titles & Explanation
Nov-30 Sales Revenue
Income Summary
Nov-30 Income Summary
Sales Returns and Allowances
Cost of goods sold
Salaries and wages expense
Advertising Expense
Utilities expense
Maintenance and repairs expense
Freight out
Rxpense
Supplies expense
Depreciation expense
Interest expense
Nov-30 Retained Earnings
Income Summary
Nov-30 Retained Earnings
Dividends
Ref. Debit Credit
755.200
755.200
757.180
12.800
497.580
136.000
24.400
14.000
12.100
16.700
24.000
4.100
11.500
4.000
1.980
1.980
8.000
8.000
e.
ROSIAK FASHION CENTER
Post-Closing Trial Balance
November 30, 2020
Account Titles Ref Debit Credit
Cash £ 8.700
Accounts Receivable 27,700
Inventory 44,520
Supplies 2,100
Equipment 133,000
Accumulated Depreciation - Equipment £ 34.500
Notes Payable 51,000
Accounts Payable 48,500
Interest Payable 4,000
Share Capital - Ordinary 50,000
Retained Earnings 28,020
£ 216,020 £ 216,020