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Highlighted the little boxes, as the answer bank is either A, B, C, or D. The trial balance for Damon's Repair Service follow. (Click the
Highlighted the little boxes, as the answer bank is either A, B, C, or D.
The trial balance for Damon's Repair Service follow. (Click the icon to view the unadjusted trial balance.) (Click the icon to view the adjustment data.) Your task is to: Complete a worksheet for Damon's Repair Service for the month of November. 2. Prepare an income statement for November, a statement of owner's equity for November, and a balance sheet as of November 30, 201X. 1. Complete a worksheet for Damon's Repair Service for the month of November. Complete the worksheet one section at a time, beginning with the Adjustments columns. When completing the Adjustments column, enter a posting reference along with each debit credit amount that corresponds to the letter of the adjusting entry (a., b., c., etc.). For the Income Statement and Balance Sheet columns, remember to include the net income or loss after the totals and then total the columns again. (Leave unused cells blank. Do not enter a "0" for any zero balances. Abbreviations used: Acc. = Accumulated, Dep. = Depreciation.) Damon's Repair Service Worksheet Month Ended November 30, 201X Trial Balance Adjustments Dr Data table Account Titles Dr Cr. Damon's Repair Service Trial Balance November 30, 201X Account Titles Cash Prepaid Insurance Repair Supplies Repair Equipment Accumulated Depreciation, Repair Equipment Accounts Payable D. Hutton, Capital Revenue from Repairs Wages Expense Rent Expense Advertising Expense Totals Cash Prepaid Insurance Repair Supplies Repair Equipment Acc. Dep., Repair Equipment Accounts Payable D. Hutton, Capital Revenue from Repairs Wages Expense Rent Expense Advertising Expense Totals Insurance Expense Repair Supplies Expense Dep. Expense, Repair Equipment Wages Payable Totals 4,000 5,100 5,000 7,500 1,400 4,670 8.090 10,400 2,300 380 300 24,580 24,580 a. b. Hnn d. Cr Print Done More info Adjustment Data Update Trial Balance a. Insurance expired, $350. b. Repair supplies on hand, $2,200. c. Depreciation on repair equipment, $750. d. Wages earned but unpaid, $270. Print Done Dr. 4,000 5,100 5,000 7,500 2,300 360 300 24,580 X Cr. 1,400 4,670 8,090 10,400 24,560Step by Step Solution
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