1)Prepare the income statement for the month of November.

2)Prepare the balance sheet as of November 30.

I have included The chart of Accounts as well as the Transactions, see below

Chart of Accounts

101 Cash

106 Accounts Receivable

124 Office Supplies

128 Prepaid Insurance

129 Prepaid Rent

130 Inventory

173 Building

174 Accumulated Depreciation

201 Accounts Payable

201 Salaries & Wages Payable

301 Investor A, Capital

302 Investor A, Withdrawals

401 Sales Revenue

402 Sales Returns & Allowance

403 Sales Discounts

501 Cost of Goods Sold

622 Salaries & Wages Expense

637 Insurance Expense

640 Rent Expense

650 Office Supplies Expense

670 Depreciation Expense

684 Repairs Expense

688 Telephone Expense

Transactions

1) 1-Nov Investor A invested cash and a warehouse building in the company as follows: Cash $300,000 Building $148,000

2) 1-Nov The company rented office space and prepaid the first two months rent for the following amount: $2,400

3) 2-Nov The company purchased office supplies using cash in the following amount: $2,750

4) 10-Nov The company paid cash for the premium on a 12-month insurance policy, coverage isretro-active to 11/1.The amount of the insurance policy is: $6,000 5) 14-Nov The company paid its employees salary for two weeks' of salary earned as follows: $1,000

6) 14-Nov The company purchased inventory for its new business on credit from Manufacturers' Inc.

The company uses a perpetual inventory system.

There were 10,000 units purchased @ $9/unit.The terms of the purchase were 1/10, n/30.

7) 17-Nov The company returned 100 units from its purchase on 11/14.

8) 25-Nov The company paid the balance due on the invoice for the inventory it purchased from Manufacturers' Inc.

9) 26-Nov The company sold 1,000 units for $19/unit to Customer B on credit with terms 2/15, n/60.

10) 28-Nov The company paid cash for minor repairs for the building as follows: $850

11) 28-Nov The company paid cash for the telephone bill as follows: $400

12) 28-Nov The company paid its employees salary for two weeks' of salary earned as follows: $1,000

13) 28-Nov Customer B paid the balance of the invoice from its purchase on 11/25.

At month-end, the company records the its adjusting entries for the following:

14) 30-Nov One month of insurance policy expired.

15) 30-Nov At the end of the month, the following is amount of supplies are still available: $1,575

16) 30-Nov The month's depreciation on the building is as follows $1,480

17) 30-Nov Employees earned the following in unpaid and unrecorded salary at month-end $100

18) 30-Nov The first month of the prepaid rent was utilized by the company.