Little Lads And Ladies Ltd Sells Children S Clothing At The End Of December 2020
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Little Lads and Ladies Ltd. sells children’s clothing. At the end of December 2020, it had the following adjusted accountbalances, which are listed in random order: Cash $ 3,700Wages Payable 500Supplies Expense 4,200Equipment 23,000Wages Expense 26,500Prepaid Rent 400Cost of Goods Sold 32,800Sales Revenue 65,150Accounts Receivable 8,700Rent Expense 4,800Bank Loan Payable 4,500Advertising Expense 750Accounts Payable 6,500Utilities Expense 600Dividends Declared 1,200Depreciation Expense 500Common Shares 20,000Telephone Expense 200Interest Expense 300 Accumulated Depreciation, Equipment 2,300 Retained Earnings 17,600Inventory 7,200Repairs and Maintenance Expenses 400Supplies 1,600 Interest Payable 300