On November 1, 2022, the following were the account balances of Sheridan Equipment Repair. Cash Accounts Receivable Supplies Equipment Credit $ 500 2,660 400 Debit $ 3,150 Accumulated Depreciation Equipment 3,040 Accounts Payable 1,480 Unearned Service Revenue 10,360 Salaries and Wages Payable Common Stock Retained Earnings $18,030 750 10,360 3,360 $18,030 10 12 15 During November, the following summary transactions were completed. Nov. 8 Paid $1,220 for salaries due employees, of which $470 is for November and $750 is for October salaries payable. Received $1,820 cash from customers in payment of account. Received $3,730 cash for services performed in November Purchased store equipment on account $3,840. Purchased supplies on account $1,400. 20 Paid creditors $2,590 of accounts payable due. Paid November rent $470. Paid salaries $1,100. Performed services on account worth $980 and billed customers. 29 Received $790 from customers for services to be performed in the future. 17 22 25 27 Enter the November 1 balances in the ledger accounts. Cash Accounts Receivable Supplies Equipment Accumulated DepreciationEquipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Journalize the November transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Nov. 8 Post above journal entries to the ledger accounts. (Post entries in the order of journal entries passed in the previous question. If the balance is zero (0), select date from drop down and enter O for the amounts.) Cash 11/1 Bal. 3,150 Accounts Receivable 11/1 Bal. 3,040 Supplies 11/1 Bal. 1,480 Equipment 11/1 Bal. 10,360 Equipment 11/1 Bal. 10,360 Accumulated Depreciation - Equipment 11/1 Bal. 500 Accounts Payable 11/1 Bal. 2,660 Unearned Service Revenue 11/1 Bal. 400 Salaries and Wages Payable 11/1 Bal. 750 Common Stock 11/1 Bal. 10,360 Common Stock 11/1 Bal. 10,360 Retained Earnings 11/1 Bal. 3,360 Service Revenue Salaries and Wages Expense Rent Expense e Textbook and Media List of Accounts Journalize the following adjusting entries. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Supplies on hand are valued at $1,290. 2. Accrued salaries payable are $500. 3. Depreciation for the month is $300. 4. Services were performed to satisfy $540 of unearned service revenue. Account Titles and Explanation Debit Cred e Textbook and Media List of Accounts Post the above adjusting entries. (Post entries in the order of journal entries passed in the previous question.) Cash 11/1 Bal. 3,150 11/8 1,220 11/10 1,820 11/20 2,590 11/12 3,730 11/22 470 11/29 790 11/25 1,100 11/30 Bal. 4,110 Accounts Receivable 11/1 Bal. 3,040 11/10 1,820 11/27 980 11/30 Bal. 2,200 Supplies 11/1 Bal. 1,4801 11/27 1,400 Equipment 11/1 Bal. 10,360 11/15 3,8401 11/30 Bal. 14,200 Accumulated Depreciation Equipment 11/1 Bal. 500 Accumulated Depreciation-Equipment 11/1 Bal. 500 Accounts Payable 11/20 2,590 11/1 Bal. 2,660 11/15 3,840 11/17 1,400 11/30 Bal. 5,310 Unearned Service Revenue 11/1 Bal. 400 11/29 790 Salaries and Wages Payable 11/8 750 11/1 Bal. 750 Common Stock 11/1 Bal. 10,360 11/30 Bal. 10,360 Retained Earnings 11/1 Bal. 3,360 Retained Earnings 11/1 Bal. 3,360 11/30 Bal. 3,360 Service Revenue 11/12 3,730 11/27 980 Depreciation Expense Supplies Expense Salaries and Wages Expense 11/8 470 11/25 1,100 Rent Expense 11/22 470 Depreciation Expense Supplies Expense Salaries and Wages Expense 11/8 470 11/25 1,100 Rent Expense 11/22 4701 11/30 Bal. 470 e Textbook and Media List of Accounts Prepare an adjusted trial balance. SHERIDAN EQUIPMENT REPAIR Trial Balances Debit Credit $ $ $ $ Prepare an income statement for November 30. SHERIDAN EQUIPMENT REPAIR Income Statement $ S $ e Textbook and Media List of Accounts Prepare a retained earnings statement for November 30. SHERIDAN EQUIPMENT REPAIR Retained Earnings Statement Prepare a retained earnings statement for November 30. SHERIDAN EQUIPMENT REPAIR Retained Earnings Statement $ $ e Textbook and Media List of Accounts Prepare a classified balance sheet at November 30. (List current assets in order of liquidity.) SHERIDAN EQUIPMENT REPAIR Balance Sheet Assets $ SHERIDAN EQUIPMENT REPAIR Balance Sheet Assets $ $ $ Liabilities and Stockholders' Equity $ $ $ Liabilities and Stockholders' Equity $ $ $ e Textbook and Media List of Accounts Save for Later
