Assets

=

Liabilities

+

Stockholders Equity

Cash

+

Accts. Rec.

+

Supplies

+

Equip.

-

Acc. Depr.- Equip.

=

Accts. Pay.

+

Unearn. Serv. Rev.

+

Sal./Wages Pay.

+

Com. Stock

+

Retained Earnings

11/1 Bal.

3,150

3,040

1,480

10,360

-500

2,660

400

750

10,360

3,360

Rev.

Exp.

Div.

Nov. 8

10

12

15

17

20

22

25

27

29

Unadj. Bal.

Adj.

(A1)

(A2)

(A3)

(A4)

Adj. Bal.

Grouper Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017, a tabular summary includes the following information. Note that Grouper began the month with $3,360 in Retained Earnings. This balance represents the results of its first two months of business. Stockholders' Equity Liabilities Assets Com Stock +Retained Earnings Sal./Wages Acc. Depr Accts. ccts. Unearn. Rec. SuppliesEquip 1,480 10,360 Pay. Serv. Rev.+ Cash Equip. ay. 750 10,360+ 11/1 Bal. 3.150 500 2,660+ 400 3,040 + 3,360 During November, the following summary transactions were completed. Paid $1,220 for salaries due employees, of which $470 is for November and $750 is for October salaries payable. Nov. 8 Received $1,820 cash from customers in payment of account. 10 Received $3,730 cash for services performed in November 12 Purchased store equipment on account $3,840. 15 Purchased supplies on account $1,400 17 Paid creditors $2,590 of accounts payable due. 20 22 Paid November rent $470. Paid salaries $1,100. 25 Performed services on account worth $980 and billed customers. 27 Received $790 from customers for services to be performed in the future. 29 Adjustment data: Supplies on hand are valued at $1,290. 1. Accrued salaries payable are $500. 2. Depreciation for the month is $300. 3. 4. Services were performed to satisfy $540 of unearned service revenue