Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Larkspur had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $26,100 6,496 2,494 72,500 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $2,900 9,860 11,600 4,930 58,000 20,300 $107,590 During November, the following summary transactions were completed. Nov. 8 Paid $10,295 for salaries due employees, of which $5,365 is for November and $4,930 is for October 10 Received $5,510 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $23,200, terms 2/10, n/30. 12 Sold merchandise on account for $15,950, terms 2/10, n/30. The cost of the merchandise sold was $11.600. 15 Received credit from Dimas Discount Supply for merchandise returned $870. 19 Received collections in full, less discounts, from customers billed on sales of $15,950 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $6,670 cash for services performed in November 25 Purchased equipment on account $14,500. 27 Purchased supplies on account $4,930. 28 Paid creditors $8,700 of accounts payable due. 29 Paid November rent $1,087. 29 Paid salaries $3,770. 29 Performed services on account and billed customers $2,030 for those services. 29 Received $1,958 from customers for services to be performed in the future. Your answer is partially correct. Try again. Adjustment data: 1. 2. 3. 4. Supplies on hand are valued at $4,640. Accrued salaries payable are $1,450. Depreciation for the month is $725. $1,885 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 the amounts.) No Date Account Title and Eunlanation (f1) Your answer is partially correct. Try again. Prepare a multiple-step income statement for November. LARKSPO Income Statement For the Month Ended November 30, 2022 Total Revenues Sales Revenue Less Sales Discounts Ne. Sales 15631 Service Revenue 20373 Total Revenues 36004 11600 Less Cost of Goods Sold Gross Profit Expenses I 24404|| Depreciation Expense Supplies Expense Salaries and Wages Expense 2784 10585 1087 Rent Expense Total Expenses al Expenses 15181 Net Income /(Loss) 9223 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Prepare a classified balance sheet at November (List Current Assets in order of liquidity.) LARKSPUR Balance Sheet Sycle Assets Liabilities and Stockholders' Equity