Can you help me wit the spreadsheet in the picture attached. this is the rest of the information given. for my homeowrk please help asapThe fiscal period is one month.Merchandise Inventory at November 30 is $265 000.Supplies on hand November 30 are valued at $11 400.Equipment depreciation is 25 percent per year, using the declining-balance method. Round off the depreciation to the nearest dollar. $450 interest is owed on the bank loan.$1300 is owed to employees. B SwensonWork SheetTrial BalanceAdjustmentsIncome StatementBalance SheetAccountNo.DebitCreditDebitCreditDebitCreditDebitCreditHST Payable28,000HST Refundable12,350Bank Loan58,000B. Swenson, Capital281,000B. Swenson, Drawings10,000Sales220,000Sales Returns and Allowances3,000Sales Discounts1,000Purchases95,000Purchase Returns and Allowances5,050Purchase Discounts1,600Transportation In2,000Salaries Expense56,000Rent Expense12,000Advertising Expense20,000Office Expense15,000Sales Expense39,000Interest Expense900674,250674,250

In this problem the Trial Balance is given with adjustments. So from the…

Answered: Payable Refundabl Loan enson, Ca enson,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Can you help me wit the spreadsheet in the picture attached. this is the rest of the information given. for my homeowrk please help asap

The fiscal period is one month.
Merchandise Inventory at November 30 is $265 000.
Supplies on hand November 30 are valued at $11 400.
Equipment depreciation is 25 percent per year, using the declining-balance method. Round off the depreciation to the nearest dollar.
$450 interest is owed on the bank loan.
$1300 is owed to employees.

B Swenson
Work Sheet
Trial Balance
Adjustments
Income Statement
Balance Sheet
Account
No.
Debit
Credit
Debit
Credit
Debit
Credit
Debit
Credit
HST Payable
28,000
HST Refundable
12,350
Bank Loan
58,000
B. Swenson, Capital
281,000
B. Swenson, Drawings
10,000
Sales
220,000
Sales Returns and Allowances
3,000
Sales Discounts
1,000
Purchases
95,000
Purchase Returns and Allowances
5,050
Purchase Discounts
1,600
Transportation In
2,000
Salaries Expense
56,000
Rent Expense
12,000
Advertising Expense
20,000
Office Expense
15,000
Sales Expense
39,000
Interest Expense
900
674,250
674,250

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