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Instruction F and G please!!! ACRS on November 1, 2022, Ikonk, Inc. had the following account balances. The company uses the perpetual inventory method. Debit

Instruction F and G please!!! image text in transcribed
ACRS on November 1, 2022, Ikonk, Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $9.000 Accumulated Depreciation- 2.240 Accounts Receivable $ 1.000 Equipment Supplies 850 Accounts Payable 3.400 25.000 Equipment 4,000 Unearned Service Revenue $37.100 Salaries and Wages Payable 1.700 Common Stock 20,000 Retained Earning 7.000 $37.100 During November, the following summary transactions were completed. Nov. 8 Paid $3.550 for salaries due employees, of which $1.850 is for November and $1,700 is for October 10 Received $1,900 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8,000, terms 2/10 /30. 12 Sold merchandise on account for $5.500, terms 2/10, n/30. The cost of the mer chandise sold was $4,000 15 Received credit from Dimas Discount Supply for merchandise returned $300 19 Received collections in full. less discounts, from customers billed on sales of $5,500 on November 12. 20 Paid Dimas Discount Supply in full, less discount 22 Received $2,300 cash for services performed in November 25 Purchased equipment on account $5,000 27 Purchased supplies on account $1,700 28 Paid creditors $3,000 of accounts payable due 29 Paid November rent $375. 29 Paid salaries $1.300. 29 Performed services on account and billed customers 5700 for those services 29 Received 5675 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $1,600. 2. Accrued salaries payable are $500 3. Depreciation for the month is $250) 4. $650 of services related to the unearned service revenue has not been performed by month end Instructions Enter the November 1 balances in ledger T-accounts B. Journalize the November transactions. Bere Post to the ledger accounts. You will need to add some accounts. T- Account d. Journalize and post adjusting entries. T austment e. Prepare an adjusted trial balance at November 30. f. Prepare a multiple-step income statement and a retained earnings statement for November and a classified balance sheet at November 30. g. Journalize and post closing entries. e. Tot. adj. trial bal. . Tot. assets

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