Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $ 2,880 154 Accumulated DepreciationEquipment

On November 1, 2022, the account balances of Blue Spruce Corp. were as follows.

No. Debits No. Credits
101 Cash $ 2,880 154 Accumulated DepreciationEquipment $ 2,400
112 Accounts Receivable 5,100 201 Accounts Payable 3,120
126 Supplies 2,160 209 Unearned Service Revenue 1,440
153 Equipment 14,400 212 Salaries and Wages Payable 840
311 Common Stock 12,000
320 Retained Earnings 4,740
$24,540 $24,540

During November, the following summary transactions were completed.

Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salaries.
10 Received $4,096 cash from customers on account.
12 Received $3,720 cash for services performed in November.
15 Purchased equipment on account $2,400.
17 Purchased supplies on account $840.
20 Paid creditors on account $3,240.
22 Paid November rent $480.
25 Paid salaries $2,040.
27 Performed services on account and billed customers $2,280 for these services.
29 Received $720 from customers for future service.

A. Prepare a trial balance at November 30.

Blue Spruce Corp. Trial Balance choose the accounting period November 30, 2022For the Quarter Ended November 30, 2022For the Month Ended November 30, 2022
Debit Credit
enter an account title $enter a debit balance $enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
enter an account title enter a debit balance enter a credit balance
Totals $enter a total for the debit column $enter a total for the credit column

B. Prepare an adjusted trial balance.

C. Prepare an income statement for November 30

D.Prepare a retained earnings statement for Novemebr 30.

E. Prepare a balance sheet at November 30

PLEASE COMPLETE ALL PARTS THANK YOU!

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Costing

Authors: Lucey

7th Edition

1844809439, 978-1844809431

More Books

Students also viewed these Accounting questions

Question

Briefly describe Aristotles four kinds of causation.

Answered: 1 week ago