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Date		Accounts	Debits	Credits
11/8/2019	Dr	Cash	1500
	Cr	Common Stock		1500
11/11/2019	Dr	Advertising Expense	125
	Cr	Accounts Payable		125
11/11/2019	Dr	Supplies (Assets)	450
	Cr	Accounts Payable		450
11/14/2019	Dr	Depreciation Expense	1250
	Cr	Accumulated Depreciation		1250
11/16/2019	Dr	Cash	2,000
	Cr	Accounts Payable		2,000
11/17/2019	Dr	Equipments	900
	Cr	Cash		900
11/20/2019	Dr	Cash	450
	Cr	Sales Revenue		450
11/25/2019	Dr	Cash	150
	Cr	Service Revenue		150
11/30/2019	Dr	Prepaid Insurance	1320
	Cr	Cash		1320
11/30/2019	Dr	Accounts Payable	1895
	Cr	Cash		1895

1.A count reveals that 30%of supplies were used during November.

2.Liamestimates that all of his equipment will have a useful life of 4years. (Assume Liam decides to record a full months worth of depreciation, regardless of when the equipment was obtained by the business.)

3.Liams grandmother has decided to charge interest of 5% on the note payable extended on November 16. The loan plus interest is to be repaid in 24 months. (Assume that half a month of interest accrued during November.)

4.On November 30, a friend of Liams asks him host a valuation booth at a sneaker shop. Liam agrees and runs a booth on the 30th for 3 hours. The next day, Liam prepares an invoice for $500 and emails it to his friend. The friend says he will pass the invoice along to the shop and it will be paid sometime in December.

QUESTION: Prepare an adjusted trial balance.

Prepare a trial balance at November 30, 2019. Shoe Doggs Trial Balance 30-Nov-19 Credit Debit 1,305 450 1,320 2,150 Cash Supplies Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Service Revenue Advertising Expense Total 500 2,000 2,750 450 125 5,350.00 5,350.00

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