Joey Juno began a web-based computer sales and service company on November 1, 2015 called Juno's...

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Joey Juno began a web-based computer sales and service company on November 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for November, 2015 (assume a perpetual inventory system). November 1 Joey invested $14,000 cash along with $9,000 of computer equipment into his new business in exchange for 400 shares. The equipment is estimated to have a useful life of 3 years and have no value after that time. 1 Purchased 6 months worth of insurance for $1,400 cash; the insurance is effective immediately. 1 $17,000 of merchandise was purchased from Zcom Inc. on account; terms 1/10, n30. 8 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 9 Purchased $7,000 of merchandise inventory from United Corporation; terms 1/10, n30; FOB shipping point. 10 Received the November 9, 2015 purchase and paid cash of $150 for shipping. 10 Sold merchandise to John Smith that cost $3,100 for $3,800; terms 1/15, n30. 13 Bought $300 of office supplies; paid cash. 15 Paid for the merchandise purchased from United Corporation on November 9, 2015. 18 The customer of November 10, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory. 23 Collected the balance owing regarding the November 10, 2015 sale. 23 Sold merchandise to John Smith that cost $5,200 for $6,000 cash. 28 Paid for the merchandise purchased from Zcom Inc. on November 1, 2015. Additional information available at month end, November 30: A count of the office supplies showed a balance on November 30 of $30. The merchandise inventory was counted and there was a balance on hand at November 30 of $14,930. The November utility bill arrived from Epcor Utility Company; the $850 balance owing must be paid by December 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'. Prepare the journal entries based on the transactions that occurred from November 1 to November 30. Also, record the six adjusting entries for the month ended November 30 based on the additional information and a review of the November transactions. Journal entries: General Journal Page GJ1 Effect On Adjusting entries: General Journal Page GJ1 Effect On Joey Juno began a web-based computer sales and service company on November 1, 2015 called Juno's Toys Inc. The plan is to prepare monthly adjustments so that financial statements can be done each month. The following information is available for November, 2015 (assume a perpetual inventory system). November 1 Joey invested $14,000 cash along with $9,000 of computer equipment into his new business in exchange for 400 shares. The equipment is estimated to have a useful life of 3 years and have no value after that time. 1 Purchased 6 months worth of insurance for $1,400 cash; the insurance is effective immediately. 1 $17,000 of merchandise was purchased from Zcom Inc. on account; terms 1/10, n30. 8 Bought used office furniture for $1,800 cash. It is estimated that the business will use the furniture for 3 years and then donate it to a charity. 9 Purchased $7,000 of merchandise inventory from United Corporation; terms 1/10, n30; FOB shipping point. 10 Received the November 9, 2015 purchase and paid cash of $150 for shipping. 10 Sold merchandise to John Smith that cost $3,100 for $3,800; terms 1/15, n30. 13 Bought $300 of office supplies; paid cash. 15 Paid for the merchandise purchased from United Corporation on November 9, 2015. 18 The customer of November 10, 2015 returned $500 of their purchase due to defects; the returned merchandise will not be returned to inventory. 23 Collected the balance owing regarding the November 10, 2015 sale. 23 Sold merchandise to John Smith that cost $5,200 for $6,000 cash. 28 Paid for the merchandise purchased from Zcom Inc. on November 1, 2015. Additional information available at month end, November 30: A count of the office supplies showed a balance on November 30 of $30. The merchandise inventory was counted and there was a balance on hand at November 30 of $14,930. The November utility bill arrived from Epcor Utility Company; the $850 balance owing must be paid by December 15, 2015. Please make sure your final answer(s) are accurate to 2 decimal places. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'. Prepare the journal entries based on the transactions that occurred from November 1 to November 30. Also, record the six adjusting entries for the month ended November 30 based on the additional information and a review of the November transactions. Journal entries: General Journal Page GJ1 Effect On Adjusting entries: General Journal Page GJ1 Effect On