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Blue Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary

Blue 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 Blue began the month with $ 2,460 in Retained Earnings. This balance represents the results of its first two months of business. 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. 2,288 + 2,386 + 918 + 8,200 - 410 = 1,886 + 328 + 508 + 8,200 + 2,460 During November, the following summary transactions were completed. Nov. 8 Paid $ 1,000 for salaries due employees, of which $ 492 is for November and $ 508 is for October salaries payable. 10 Received $ 1,476 cash from customers in payment of account. 12 Received $ 3,034 cash for services performed in November. 15 Purchased store equipment on account $ 2,952. 17 Purchased supplies on account $ 1,066. 20 Paid creditors $ 2,050 of accounts payable due. 22 Paid November rent $ 394. 25 Paid salaries $ 820. 27 Performed services on account worth $ 738 and billed customers. 29 Received $ 615 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $ 902. 2. Accrued salaries payable are $ 394. 3. Depreciation for the month is $ 205. 4. Services were performed to satisfy $ 410 of unearned service revenue. (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.) (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.

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