In: Accounting
The following information has been extracted from the trial balance worksheet of Motorize IT for its 3rd
year of operation ended November 30, 2019.
Motorize IT |
||
Adjusted Trial Balance |
||
November 30, 2019 |
||
ACCOUNT |
DEBIT |
CREDIT |
Cash |
$ 11,000 |
|
Accumulated amortization – printing press |
10,600 |
|
Accounts receivable |
11,770 |
|
Accounts payable |
6,789 |
|
Supplies |
6,110 |
|
Sales of Software - CD’s |
4,000 |
|
Prepaid insurance |
1,500 |
|
Unearned consulting fees |
2,897 |
|
Printing press |
16,600 |
|
Amortization expense – printing press |
7,500 |
|
Prepaid rent |
3,130 |
|
Patents (expire 2024) |
7,000 |
|
Note Receivable, due November 29, 2020 |
11,000 |
|
John Datan, Capital |
29,777 |
|
COGS Sold – CD’s |
16,000 |
|
Note Payable, due December 31, 2019 |
20,000 |
|
Ad consulting fee revenue |
86,000 |
|
Note Payable, due August 31, 2023 |
13,722 |
|
Wage expense |
19,200 |
|
John Datan, Withdrawals |
31,000 |
|
Insurance expense |
4,775 |
|
Rent expense |
21,500 |
|
Supplies expense |
5,700 |
|
Total |
$173,785 |
$173,875 |
Required:
prepare the following financial statements for Motorize IT for the year ended November 30, 2019
Please find the attaced sheet
Please comment for any assistance pertaining to question,
Thanks,