Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Windsor had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $24,300 6,048 2,322 67,500 $100,170 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $2,700 9,180 10,800 4,590 54,000 18,900 $100,170 During November, the following summary transactions were completed. Nov. 8 10 11 12 15 19 20 22 25 27 28 29 29 29 29 Paid $9,585 for salaries due employees, of which $4,995 is for November and $4,590 is for October. Received $5,130 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $21,600, terms 2/10, n/30. Sold merchandise on account for $14,850, terms 2/10, n/30. The cost of the merchandise sold was $10,800. Received credit from Dimas Discount Supply for merchandise returned $810. Received collections in full, less discounts, from customers billed on sales of $14,850 on November 12. Paid Dimas Discount Supply in full, less discount. Received $6,210 cash for services performed in November. Purchased equipment on account $13,500. Purchased supplies on account $4,590. Paid creditors $8,100 of accounts payable due. Paid November rent $1,012. Paid salaries $3,510. Performed services on account and billed customers $1,890 for those services. Received $1,823 from customers for services to be performed in the future. (d) Your answer is partially correct. Try again. Adjustment data: 1. 2. 3. 4. Supplies on hand are valued at $4,320. Accrued salaries payable are $1,350. Depreciation for the month is $675. $1,755 of services related to the unearned service revenue has not been performed by month-end. Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. Nov. 30 No Entry No Entry 2. Nov. 30 Salaries and Wages Expense Salaries and Wages Payable 3. Nov. 30 Depreciation Expense Accumulated Depreciation-Equipment 4. Nov. 30 Unearned Service Revenue Service Revenue Post the above adjusting entries. (Post entries in the order of journal entries presented above.) 11/1 Bal. 11/10 11/19 9,585 20,374 8,100 1,012 3,510 11/22 11/29 11/30 Bal. 11/1 Bal. 11/12 11/29 Cash 24,300 11/8 5,130 11/20 14,553 11/28 6,210 11/29 1,823 11/29 9,435 Accounts Receivable 6,048 11/10 14,850 11/19 1,890 2,808 Inventory 21,600 11/12 11/15 11/20 9,574 Supplies 5,130 14,850 11/30 Bal. 11/11 10,800 810 416 11/30 Bal. 11/1 Bal. 2,322 11/27 4,590T 11/1 Bal. 11/25 11/30 Bal. Equipment 67,500 13,500 81,000 Accumulated Depreciation Equipment 11/1 Bal. 2,700 q | Adj. 675 675 3375 11/15 11/20 11/30 Bal. Accounts Payable 810 11/1 Bal. 20,790 11/11 8,100 11/25 11/27 11/30 Bal. Unearned Service Revenue 11/28 9,180 21,600 13,500 4,590 19,170 11/30 1755 |||11/1 Bal. 10,800 11/29 1,823 11/30 Bal. 10868 Salaries and Wages Payable 4,590 11/1 Bal. 11/8 4,590 I 11/30 11/30 1350) T T 1350 T 11/30 Bal. Common Stock 11/1 Bal. 11/30 Bal. Retained Earnings 54,000 54,000 T 11/1 Bal. 18,900 Service Revenue 11/22 6,210 11/29 1,890 11/30 1755 Depreciation Expense 11/30 675 Supplies Expense Salaries and Wages Expense 11/8 4,9957 C 11/29 3,510 11/30 1350 TL Rent Expense 11/29 1,012 Sales Revenue 11/12 14,850 Cost of Goods Sold 11/12 10,8001 Sales Discounts 11/19
