4 of 10 View Policies Current Attempt in Progress -/5 Flounder Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary includes the following information. Note that Flounder began the month with $2,700 in Retained Earnings. This balance represents the results of its first two months of business. Assets Liabilities Stockholders' Equity III Acc. Unearn. Accts. Depr.- = Cash + Rec. + Supplies + Equip. Equip. Accts. Pay. + Serv. Rev. + Sal./Wages + Com. Pay. Retained Stock + Earnings 2,512 + 2,618 + 1,006 + 9,000 - 450 = 2,070 + 360 + 556 + 9,000 + 2,700 During November, the following summary transactions were completed. Paid $1,096 for salaries due employees, of which $540 is for November and $556 is for October salaries payable. Nov. 8 10 Received $1,620 cash from customers in payment of account. 12 Received $3,330 cash for services performed in November. 15 Purchased store equipment on account $3,240. 17 Purchased supplies on account $1,170. Question 4 of 10 > 20 Paid creditors $2,250 of accounts payable due. 22 Paid November rent $434. 25 Paid salaries $900. 27 Performed services on account worth $810 and billed customers. 29 Received $675 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $990. 2. Accrued salaries payable are $434. 3. Depreciation for the month is $225. 4. Services were performed to satisfy $450 of unearned service revenue. -15 !!! (a-d) Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Question 4 of 10 < > (a-d) -15 III Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Assets 11/1 Bal. Cash Nov. 8 10 10 12 2,512 + Accts. Rec. + Supplies + Equip. 2,618 1,006