Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Shamrock had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $19,800 Accumulated Depreciation Equipment 4,928 Accounts Payable 1,892 Unearned Service Revenue 55,000 Salaries and Wages Payable $81,620 Common Stock Retained Earnings Credit $2,200 7,480 8,800 3,740 44,000 15,400 $81,620 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 $7,810 for salaries due employees, of which $4,070 is for November and $3,740 is for October Received $4,180 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $17,600, terms 2/10, n/30. Sold merchandise on account for 512,100, terms 2/10, n/30. The cost of the merchandise sold was $8,800. Received credit from Dimas Discount Supply for merchandise returned $660. Received collections in full, less discounts, from customers billed on sales of $12,100 on November 12. Paid Dimas Discount Supply in full, less discount Received $5,060 cash for services performed in November Purchased equipment on account $11,000. Purchased supplies on account 53,740. Paid creditors $6,600 of accounts payable due. Paid November rent 5825. Paid salaries $2,860. Performed services on account and billed customers $1,540 for those services, Received $1,485 from customers for services to be performed in the future, Adjustment data: 1. 2. 3. 4. Supplies on hand are valued at $3,520. Accrued salaries payable are $1,100. Depreciation for the month is $550. $1,430 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.) Debit Credit No. Date Account Titles and Explanation 1. Nov. 30 Supplies Expense Supplies 2. Nov. 30 salaries and Wages Expense | Salaries and Wages Payable 3. Nov. 30 Depreciation Expense T Accumulated Depreciation Equipment 4. Nov. 30 Unearned Service Revenue Service Revenue 8855 Post the above adjusting entries. (Post entries in the order of journal entries presented above.) 11/1 Bal. 11/10 11/19 11/22 11/29 11/30 Bal 7,810 16,60: 6,600 825 2.860 11/1 Bal Cash 19,800 11/8 4,180 11/20 11,85811/28 5,06011/29 1,485 11/29 7,6871 Accounts Receivable 4,928 11/10 12,10011/19 1,540 2,285 Inventory 17,600 11/12 11/15 11/20 7,8011 Supplies 4,180 12,100 11/12 11/29 11/30 Bal. 11/11 3.500 11/30 Bal. 11/1 Bal. 1,892 Adj 11/27 3,7407 11/30 bal. 11/1 Bal. 11/25 11/30 Bal. 3520 Equipment 55,000 11,000 66,000 Accumulated Depreciation Equipment 1/1 Bal. 2,200 Adj. 550 T 2750 11/15 11/20 11/28 | 11/30 Bal. Accounts Payable 660 11/1 Bal. 16,94011/11 6,600 11/25 11/27 11/30 Bal Unearned Service Revenue 11/1 Ball 7.480 17,600 11,000 3,740 15,620 8,800 11/29 1,485 11/30 Bail . 1030 Salaries and Wages Payable 3,740 11/1 Bal. 3,740 1100 Adj. T 11/30 Bal. 1100 44,000 Common Stock 11/1 Ball 11/30 Bal. Retained Earnings 44,000 11/1 Ball 15,400 Service Revenue 5,060 1,540 8855 Ad). Depreciation Expense Taas. ] [ 550 Tad). Supplies Expense 1 21120 Salaries and Wages Expense 11/8 4,0707 11/29 Inas. 2,860 11000 Rent Expense 11/29 8251 Sales Revenue 11/12 12.100 Cost of Goods Sold 11/12 8,800 CDI Sales Discounts 11/19 (e) Prepare an adjusted trial balance at November 30. SHAMROCK Adjusted Trial Balance Debit Credit Totals
