balance sheet

balance sheet for assets and liabilities and stockholders equity

Prepare a classified balance sheet at November 30 . (List Current Assets in order of liquidity.) On November 1, 2022, Larkspur, Inc. had the following account balances. The company uses the perpetual inventory method. During November, the following summary transactions were completed. Nov. 8 Paid $3,479 for salaries due employees, of which $1,813 is for November and $1,666 is for October. 10 Received $1,862 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $7,800, terms 2/10,n/30. 12 Sold merchandise on account for $5,400, terms 2/10,n/30. The cost of the merchandise sold was $3,920. 15 Received credit from Dimas Discount Supply for merchandise returned $300. 19 Received collections in full, less discounts, from customers billed on sales of $5.400 on November 12. 20. Paid Dimas Discount Supply in full, less discount. 22 Received $2,254 cash for services performed in November. 25 Purchased equipment on account $4,900. 27 Purchased supplies on account $1,666. 28 Paid creditors $2.940 of accounts payable due. 29 Paid November rent $368. 29 Paid salaries $1.274. Adjustment data: 1. Supplies on hand are valued at $1,568. 2. Accrued salaries payable are $490. 3. Depreciation for the month is $245. 4. $637 of services related to the unearned service revenue has not been performed by month-end