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Problem 5-05A a, bl-b3, c-e (Part Level Submission) (Video) The trial balance of Concord Corporation contained the following accounts at November 30, the end of the company's fiscal year. Concord Corporation Trial Balance November 30, 2020 Credit Debit $8,200 31,100 43,600 6,000 135,000 $ 30,000 55,000 35,200 55,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation ---Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense Maintenance and Repairs Expense Freight-Out Rent Expense Totals 11,500 755,600 8,600 497,200 139,600 24,000 13,900 12,000 16,400 23,700 970,800 $970,800

Answer 1

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View ♡ General * Cut La Copy Format Painter Clipboard Times New Rom - 11 - A A BI U DA Font - Wrap Text Merge & Center 1 1 ** 23 Formational airport se e - 3 insert Delete Format Paste - Autosum * 3F Sama tunda Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Fill 2 Clear Sort & Find & Filter Select Editing Clipboard Alignment Number Cells M10 fic A B C H I J K L 3 Balance Sheet Income Statement Debit Credit Credit 4 Account Name 5 Cash 6 Accounts Receivable 7 Inventory 8 Supplies 9 Equipment Trial Balance Debit $ 8.200.00 $ 31,100.00 $ 43,600.00 $ 6,000.00 $ 1,35,000.00 D E F G Concord Corporation For the month ended November 30th, 2020 Adjustments Adjusted Trial Balance Debit Credit Debit Credit $ 8,200.00 $ 31,100.00 $ 800.00 $ 42,800.00 $ 4,000.00 $ 2,000.00 $ 1,35,000.00 $ 8,200.00 $ 31,100.00 $ 42,800.00 $ 2,000.00 $ 1,35,000.00 $ 11,500.00 $ 30,000.00 $ 55,000.00 $ 35,200.00 $ 41,500.00 $ 55,000.00 $ 35,200.00 $ 5,000.00 $ 55,000.00 $ 40,000.00 $ $ $ $ $ $ 41,500.00 55,000.00 35,200.00 5,000.00 55,000.00 40,000.00 $ 5,000.00 $ 55,000.00 $ 40,000.00 Accumulated Depreciation- 10 Equipment 11 Notes Payable 12 Accounts Payable 13 Interest Payable 14 Common Stock 15 Retained Earnings 16 Dividends $ 11,500.00 17 Sales Revenue 18 Sales Return and Allowances $ 8,600.00 19 Cost of goods sold $ 4,97,200.00 20 Salaries and Wages Expense $ 1,39,600.00 21 Advertising Expense $ 24,000.00 22 Utilities Expense $ 13.900.00 ► Sheet1 Sheet2 Sheet3 Ready $ 11,500.00 $ 7,55,600.00 $ 7,55,600.00 $ 800.00 $ 11,500.00 $ - $ 9,400.00 $ 4,97,200.00 $ 1,39,600.00 $ 24,000.00 | $ 13.900.00 $ 7,55,600.00 $ 9,400.00 $ 4,97,200.00 $ 1,39,600.00 $ 24,000.00 | $ 13.900.00 OU 100% + 0 19:59 06-02-2020 A ENG W

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy DO General 1 - } LE Paste Autosum Times New Rom - 11 - A A BI U - ->-A Wrap Text 3 Merge & Center 9 % 8... Format Painter Insert Delete Format Conditional Format Formatting as Table Styles Cell Styles Fill 2 Clear Sort & Filter Editing Find & Select Clipboard Font Alignment Number Cells A41 0 f В E LM 22 Utilities Expense $ 23 Maintenance and Repair Expens $ 24 Freight Out $ 25 Rent Expense $ 26 Supplies Expense 27 Depreciation Expense 28 Interest Expense Accumulated Depreciation-Equipment C D 13,900.00 12,000.00 16,400.00 23,700.00 $ 4,000.00 $ 11,500.00 $ 5,000.00 $ $ $ $ $ $ $ 13,900.00 12,000.00 16,400.00 23,700.00 4,000.00 11,500.00 5,000.00 $ $ $ $ $ $ $ H 13,900.00 12,000.00 16,400.00 23,700.00 4,000.00 11,500.00 5,000.00 29 21,300.00 $ 21,300.00 $ 9,87,300.00 $ 9,87,300.00 $ 7,56,700.00 $ 7,55,600.00 $ 2,30,600.00 $ 2,31,700.00 $ 1,100.00 $ 1,100.00 $ $ 7,56,700.00 $ 7,56,700.00 $ 2,31,700.00 $ 2,31,700.00 30 Total $ 9,70,800.00 $ 9,70,800.00 $ 31 Net Income 32 Total 33 34 Trial Balance 35 Account Name Debit Credit 36 Cash $ 8.200.00 37 Accounts Receivable $ 31,100.00 38 Inventory $ 42,800.00 39 Supplies $ 2,000.00 40 Equipment $ 1,35,000.00 Accumulated Depreciation- 41 Equipment $ 41,500.00 42 Notes Payable $ 55,000.00 43 Accounts Payable $ 35,200.00 44 Interest Pavable $ 5000 001 ► Sheet1 Sheet2 Sheet3 Ready + BOU 100% ve OP ANDENG 0 20:00 06-02-2020

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy DO LE Paste General Times New Rom - 11 - A A BI U - ->-A Wrap Text 3 Merge & Center Fill Insert Delete Format Conditional Format Formatting as Table Styles Cell Styles Format Painter Et Find & Select Z Sort & Filter Editing 2 Clear Clipboard Font Alignment Number Cells E F G H I J K L M A41 - fix Accumulated Depreciation-Equipment A B C D 34 Trial Balance 35 Account Name Debit Credit 36 Cash $ 8,200.00 37 Accounts Receivable $ 31,100.00 38 Inventory $ 42,800.00 39 Supplies $ 2,000.00 40 Equipment $ 1,35,000.00 Accumulated Depreciation- 41 Equipment $ 41,500.00 42 Notes Payable $ 55,000.00 43 Accounts Payable $ 35,200.00 44 Interest Payable $ 5,000.00 45 Common Stock $ 55,000.00 46 Retained Earnings $ 40,000.00 47 Dividends $ 11,500.00 48 Sales Revenue $ 7,55,600.00 49 Sales Return and Allowances | $ 9,400.00 50 Cost of goods sold $ 4,97,200.00 51 Salaries and Wages Expense $ 1,39,600.00 52 Advertising Expense $ 24,000.00 53 Utilities Expense $ 13,900.00 54 Maintenance and Repair Expens $ 12,000.00 55 Freight Out $ 16,400.00 56 Rent Expense $ 23.700.00 Sheet1 Sheet2 Sheet3 Ready BOU 100% + 0 20:00 06-02-2020 OP ANDENG 0

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut DO General LE Paste Times New Rom - 11 - A A BI U - ->-A E Copy Format Painter Wrap Text 3 Merge & Center Fill Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Z Sort & Filter Editing Et Find & Select 2 Clear Clipboard Font Alignment Number Cells E F G H I J K L M A41 - foc Accumulated Depreciation-Equipment А C D 40 Equipment $ 1,35,000.00 Accumulated Depreciation- 41 Equipment $ 41,500.00 42 Notes Payable $ 55,000.00 43 Accounts Payable $ 35,200.00 44 Interest Payable $ 5,000.00 45 Common Stock $ 55,000.00 46 Retained Earnings $ 40,000.00 47 Dividends $ 11,500.00 48 Sales Revenue $ 7,55,600.00 49 Sales Return and Allowances $ 9,400.00 50 Cost of goods sold $ 4,97,200.00 51 Salaries and Wages Expense $ 1.39,600.00 52 Advertising Expense $ 24,000.00 53 Utilities Expense $ 13,900.00 54 Maintenance and Repair Expens $ 12,000.00 55 Freight Out $ 16,400.00 56 Rent Expense $ 23,700.00 57 Supplies Expense $ 4,000.00 58 Depreciation Expense $ 11,500.00 59 Interest Expense $ 5,000.00 60 61 Total $ 9,87,300.00 $ 9,87,300.00 62 Sheet1 Sheet2 Sheet3 Ke Ready 3O 100% + 0 20:00 06-02-2020 OP ANDENG 0

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy General 1 1 - 3 Autosum * LE Paste Format Painter Clipboard Times New Rom - 11 - A A BI U - ->-A DO Wrap Text 3 Merge & Center Alignment Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Cells Fill 2 Clear Sort & Find & Filter Select Editing Font Number D E F G H I J K L 64 A41 f Accumulated Depreciation-Equipment А B C 62 63 Concord Corporation Income Statement 65 For the three months ended November 30th 66 Revenue 67 Sales Revenue $ 7,55,600.00 68 Less: Sales Return and Allowances $ 9,400.00 69 Net Sales $ 7,46,200.00 70 Total Revenue=(A) $ 7,46,200.00 71 Expenses 72 Cost of goods sold $ 4,97,200.00 73 Salaries and Wages Expense $ 1,39,600.00 74 Advertising Expense $ 24,000.00 75 Utilities Expense $ 13,900.00 76 Maintenance and Repair Expense $ 12,000.00 77 Freight Out $ 16,400.00 78 Rent Expense $ 23,700.00 79 Supplies Expense $ 4,000.00 80 Depreciation Expense $ 11,500.00 81 Interest Expense $ 5,000.00 82 Total Expenses=(B) $ 7,47,300.00 83 Net Income Loss=(A)-(B) S -1,100.00 84 85 Concord Corporation Ke Sheet1 Sheet2 Sheet3 Ready + BO op ^ 100% 0 ENGE 06-02-2020 20:00 W a

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy DO General 1 - } Autosum LE Paste Format Painter Clipboard Times New Rom - 11 - A A BI U - ->-A Font Wrap Text 3 Merge & Center Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Fill 2 Clear Sort & Find & Filter Select Editing Alignment Number Cells А E F G H I J 86 87 88 89 Balance 90 Add: Net Income 91 Less: Dividend 92 Balance fx Accumulated Depreciation-Equipment B C D Concord Corporation Statement of Owner's Equity For the months ended November 30th 2020 Common Stoc Retained Earni Total $ 55,000.00 $ 40,000.00 $ 95,000.00 $ -1,100.00 $ (1,100.00) $ -11,500.00 $ (11,500.00) $ 55,000.00 $ 27,400.00 $ 82,400.00 93 94 Concord Corporation 95 Balance Sheet 96 As At November 30th 2020 97 Assets 98 Current Assets 99 Cash $ 8,200.00 100 Accounts Receivable $ 31,100.00 101 Inventory $ 42,800.00 102 Supplies $ 2,000.00 103 Total Current Assets 104 Property Plant and Equipment 105 Equipment $ 1.35,000.00 106 Accumulated Depreciation Equipment $ 41,500.00 107 Total Property Plant and Equipment 108 Total Assets Ke Sheet1 Sheet2 Sheet30 Ready $ 84,100.00 $ 93,500.00 $ 177 600 00 + OU 100% 0 op ^ ENGE 06-02-2020 20:00

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut Copy General 1 - } LE Paste Autosum Times New Rom - 11 - A A BI U - ->-A DO Wrap Text 3 Merge & Center Alignment Insert Delete Format Conditional Format Formatting as Table Styles Format Painter Cell Styles Fill 2 Clear Sort & Find & Filter Select Editing Clipboard Font Number Cells D E F G H I J K 95 A41 - for Accumulated Depreciation-Equipment в с 94 Concord Corporation Balance Sheet 96 As At November 30th 2020 97 Assets 98 Current Assets 99 Cash $ 8,200.00 100 Accounts Receivable $ 31,100.00 101 Inventory $ 42,800.00 102 Supplies $ 2,000.00 103 Total Current Assets $ 84,100.00 104 Property Plant and Equipment 105 Equipment $ 1,35,000.00 106 Accumulated Depreciation Equipment $ -41,500.00 107 Total Property Plant and Equipment $ 93,500.00 108 Total Assets $ 1,77,600.00 109 Liabilities & Stockholder's equity 110 Liabilities 111 Accounts Payable $ 35,200.00 112 Interest Payable $ 5,000.00 113 Notes Payable $ 55,000.00 114 Total Liabilities $ 95,200.00 115 Stockholder's Equity 116 Common Stock $ 55,000.00 117 Retained Earnings $ 27.400.00 Sheet1 Sheet2 Sheet30 Ready 3O 100% + 0 20:00 06-02-2020 OP ANDENG 0

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut General 1 - } Autosum LE E Copy Paste Format Painter Clipboard Times New Rom - 11 - A A BI U - ->-A Font DO Wrap Text 3 Merge & Center Alignment Conditional Format Formatting as Table Styles Cell Styles Insert Delete Format Cells Fill 2 Clear Sort & Find & Filter Select Editing Number A D E F G H I J K L fx Accumulated Depreciation-Equipment B C 99 Cash $ 8,200.00 100 Accounts Receivable $ 31,100.00 101 Inventory $ 42,800.00 102 Supplies $ 2,000.00 103 Total Current Assets $ 84,100.00 104 Property Plant and Equipment 105 Equipment $ 1,35,000.00 106 Accumulated Depreciation-Equipment $ 41,500.00 107 Total Property Plant and Equipment $ 93,500.00 108 Total Assets $ 1,77,600.00 109 Liabilities & Stockholder's equity 110 Liabilities 111 Accounts Payable $ 35,200.00 112 Interest Payable $ 5,000.00 113 Notes Payable $ 55,000.00 114 Total Liabilities $ 95,200.00 115 Stockholder's Equity 116 Common Stock $ 55,000.00 117 Retained Earnings $ 27,400.00 118 Total of Stockholder's Equity $ 82,400.00 119 Total Liabilities & Stockholder's Equity $ 1,77,600.00 120 121 122 Sheet1 Sheet2 Sheet30 Ke Ready 3O op ^ 100% 0 - 20:00 ENGE 06-02-2020 + S.

Book1 - Microsoft Excel - X Home Insert Page Layout Formulas Data Review View Cut ♡ General Fill Times New Rom - 11 - A A BI U - ->-A Font - Wrap Text *Merge & Center E Copy Paste Format Painter Clipboard Insert Delete Format Conditional Format Formatting as Table Styles Cell Styles 2 Clear Z Et Sort & Find & Filter Select Editing Alignment Number Cells J133 C D E F G H I J K L $ 95,200.00 $ 82,400.00 $ 1,77,600.00 A B 111 Accounts Payable $ 35,200.00 112 Interest Payable $ 5,000.00 113 Notes Payable $ 55,000.00 114 Total Liabilities 115 Stockholder's Equity 116 Common Stock $ 55,000.00 117 Retained Earnings $ 27,400.00 118 Total of Stockholder's Equity 119 Total Liabilities & Stockholder's Equity 120 121 Adjusting Journal Entries 122 Supplies Expense $ 4,000.00 123 To Supplies 124 125 Depreciation $ 11,500.00 126 To Accumulated Depreciatiom 127 128 Interest Expense $ 5,000.00 129 To Interest Payable 130 131 Cost of Goods Sold $ 800.00 132 To Merchandise Inventory 133 134 Ke Sheet1 Sheet2 Sheet30 Ready $ 4,000.00 $ 11,500.00 $ 5,000.00 $ 800.00 OO gl ^ 100% 0 ENGE ... 20:26 S 06-02-2020 D