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Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Marin had the following account balances. The company uses the perpetual inventory method.
Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Marin had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $17,100 Accumulated Depreciation-Equipment 4,256 Accounts Payable 1,634 Unearned Service Revenue 47,500 Salaries and Wages Payable $70,490 Common Stock Retained Earnings Credit $1,900 6,460 7,600 3,230 38,000 13,300 $70,490 During November, the following summary transactions were completed. Nov. 8 Paid $6,745 for salaries due employees, of which $3,515 is for November and $3,230 is for October. 10 Received $3,610 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $15,200, terms 2/10, n/30. 12 Sold merchandise on account for $10,450, terms 2/10, n/30. The cost of the merchandise sold was $7,600. 15 Received credit from Dimas Discount Supply for merchandise returned $570. 19 Received collections in full, less discounts, from customers billed on sales of $10,450 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $4,370 cash for services performed in November. 25 Purchased equipment on account $9,500. 27 Purchased supplies on account $3,230. 28 Paid creditors $5,700 of accounts payable due. 29 Paid November rent $712. 29 Paid salaries $2,470. 29 Performed services on account and billed customers $1,330 for those services. 29 Received $1,283 from customers for services to be performed in the future. (e) -----derabadbal balance at November 30. Collapse question part MARIN Adjusted Trial Balance Debit Credit Totals SHOW LIST OF ACCOUNTS Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Marin had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $17,100 Accumulated Depreciation-Equipment 4,256 Accounts Payable 1,634 Unearned Service Revenue 47,500 Salaries and Wages Payable $70,490 Common Stock Retained Earnings Credit $1,900 6,460 7,600 3,230 38,000 13,300 $70,490 During November, the following summary transactions were completed. Nov. 8 Paid $6,745 for salaries due employees, of which $3,515 is for November and $3,230 is for October. 10 Received $3,610 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $15,200, terms 2/10, n/30. 12 Sold merchandise on account for $10,450, terms 2/10, n/30. The cost of the merchandise sold was $7,600. 15 Received credit from Dimas Discount Supply for merchandise returned $570. 19 Received collections in full, less discounts, from customers billed on sales of $10,450 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $4,370 cash for services performed in November. 25 Purchased equipment on account $9,500. 27 Purchased supplies on account $3,230. 28 Paid creditors $5,700 of accounts payable due. 29 Paid November rent $712. 29 Paid salaries $2,470. 29 Performed services on account and billed customers $1,330 for those services. 29 Received $1,283 from customers for services to be performed in the future. (e) -----derabadbal balance at November 30. Collapse question part MARIN Adjusted Trial Balance Debit Credit Totals SHOW LIST OF ACCOUNTS
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