Martinez Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary includes the following information. Note that Martinez began the month with $ 2,880 in Retained Earnings. This balance represents the results of its first two months of business. S Assets Liabilities + Accts. Rec. Acc. Depr.- Equip. Accts. Pay. Unearn. Serv. Rev. Sal./Wages + Pay. Con Stoc Cash + Supplies + Equip. 11/1 Bal. 2,680 + 2,792 + 1,072 + 9,600 480 = 2,208 + 384 + 592 + 9,6C During November, the following summary transactions were completed. Nov. 8 Paid $ 1,168 for salaries due employees, of which $ 576 is for November and $ 592 is for October salaries payable. 10 Received $ 1,728 cash from customers in payment of account. 12 Received $3,552 cash for services performed in November. 15 Purchased store equipment on account $3,456. 17 Purchased supplies on account $ 1,248. 20 Paid creditors $2,400 of accounts payable due. 22 Paid November rent $ 464. 25 Paid salaries $ 960. 27 Performed services on account worth $ 864 and billed customers. 29 Received $ 720 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $ 1,056. 2. Accrued salaries payable are $ 464. 3. Depreciation for the month is $240. 4. Services were performed to satisfy $ 480 of unearned service revenue. (a-d) Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Martinez Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary includes the following information. Note that Martinez began the month with $2,880 in Retained Earnings. This balance represents the results of its first two months of business. Assets Liabilities + Stockholders' Equity z Accts. Rec. Acc. Depr.- Equip. - Equip. Accts. Pay. Unearn. Serv. Rev. Sal./Wages + Pay. Com. Retained Stock + Earnings + Supplies + + 2,792 + 1,072 + 9,600 480 2,208 + 384 + 592 + 9,600 + 2,880 During November, the following summary transactions were completed. Nov. 8 Paid $ 1,168 for salaries due employees, of which $ 576 is for November and $ 592 is for October salaries payable. 10 Received $ 1,728 cash from customers in payment of account. 12 Received $3,552 cash for services performed in November. 15 Purchased store equipment on account $3,456. 17 Purchased supplies on account $ 1,248. 20 Paid creditors $2,400 of accounts payable due. 22 Paid November rent $ 464. 25 Paid salaries $ 960. 27 Performed services on account worth $ 864 and billed customers. 29 Received $720 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $ 1,056. 2. Accrued salaries payable are $ 464. 3. Depreciation for the month is $240. 4. Services were performed to satisfy $ 480 of unearned service revenue. (a-d) Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Martinez Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On November 1, 2022, a tabular summary includes the following information. Note that Martinez began the month with $2,880 in Retained Earnings. This balance represents the results of its first two months of business. Assets Liabilities + Stockholders' Equity et Ez Accts. Rec. Acc. Depr.- Equip. = Accts. Pay. Unearn. Serv. Rev. Sal./Wages + Pay. Com. Stock + Retained Earnings + Supplies + Equip. + + 2,792 + 1,072 + 9,600 480 2,208 + 384 + 592 + 9,600 + 2,880 During November, the following summary transactions were completed. Nov. 8 Paid $ 1,168 for salaries due employees, of which $ 576 is for November and $ 592 is for October salaries payable. 10 Received $ 1,728 cash from customers in payment of account. 12 Received $3,552 cash for services performed in November. 15 Purchased store equipment on account $3,456. 17 Purchased supplies on account $ 1,248. 20 Paid creditors $ 2,400 of accounts payable due. 22 Paid November rent $ 464. 25 Paid salaries $ 960. 27 Performed services on account worth $ 864 and billed customers. 29 Received $ 720 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $ 1,056. 2. Accrued salaries payable are $ 464. 3. Depreciation for the month is $240. 4. Services were performed to satisfy $480 of unearned service revenue. (a-d) Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Assets Accts. Rec. Cash + + Supplies 11/1 Bal. 2,680 2.792 Nov. 8 10 12 15 17 20 22 25 27 29 Unadj. Bal. Adj. (A1) (A2) (A3) (A4) Adj. Bal. (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Supplies Acc. Depr.- Equip. + Equip. 1,072 9,600 - 480 (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. Liabilities Accts. Pay. Unearn. Serv. Rev. Sal./Wages + Pay. + 2,208 384 592 | (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance in each column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. + Stockholders' Equity Com. Stock + Retained Earnings 9,600 2,880 Rev. Exp. [ (a) Record the November transactions. Include explanations for amounts in the revenue or expense column. (b) Compute the balance ineach column after recording the November 29 transaction. (c) Record adjustments. (d) Compute the adjusted balance in each column. 2.880 Exp. Div.) | IL