On November 1, 20XX, Larry Bird Ballers had the following account balances Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings transactions occurred Credit 14,000 Debit $ 2,790 7,640 2,910 Supplies 1,100 Equipment 86,000 Patents 10,100 $ 110,540 Cash Accounts Receivable Prepaid Insurance $ 2,300 620 3,460 65,000 25,160 $ 110,540 During November, the following Nov 08 Paid $620 of salaries related to October (debit Salaries Payable) Nov 10 Received $3,850 cash from customers in payment of account receivable Nov 12 Received $47,700 cash for services performed in November Nov 15 Paid November rent, $3,330 Nov 17 Purchased equipment on account for $3,600 Nov 22 Paid November salaries, $4,800 Nov 25 Paid creditors $2,500 of accounts payable due Nov 27 Performed services on account and billed customers for $900 Nov 29 Received $820 from customers for services to be performed in the future Nov 30 Declared and paid a $450 dividend Instructions Perform the following steps in the Excel workbook in chronological order 1 Journalize the month's transactions Use only accounts that appear in Larry Bird Ballers general ledger Omit journal entry descriptions 2 Post the months journal entries to the general ledger Omit post references 3 Prepare an (unadjusted) trial balance at the end of the month 4 Journalize and post the following adjusting entries for the month a Supplies on hand at the end of the month totaled $500 b Accrued salaries payable are $2,080 c Depreciation for the month is $300 d Services were performed to satisfy $500 of unearned service revenue 5 Prepare an adjusted trial balance at the end of the month 6 Prepare financial statements a Income statement hint net income $37,990 b Statement of retained earnings c Balance sheet 7 Journalize and post closing entries for the month 8 Prepare a post closing trial balance at the end of the month 9 Check all work against the rubric and ensure that no absolute criteria are violated

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On November 1, 20XX, Larry Bird Ballers had the following account balances. Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings transactions

On November 1, 20XX, Larry Bird Ballers had the following account balances.

Accumulated Depreciation Accounts Payable Salaries Payable Unearned Revenue Common Stock

Retained Earnings

transactions occurred.

Credit 14,000

Debit $ 2,790 7,640 2,910 Supplies 1,100 Equipment 86,000 Patents 10,100 $ 110,540

Cash Accounts Receivable Prepaid Insurance

2,300 620 3,460 65,000 25,160 $ 110,540

During November, the following

Nov-08 Paid $620 of salaries related to October (debit Salaries Payable). Nov-10 Received $3,850 cash from customers in payment of account receivable. Nov-12 Received $47,700 cash for services performed in November. Nov-15 Paid November rent, $3,330. Nov-17 Purchased equipment on account for $3,600. Nov-22 Paid November salaries, $4,800. Nov-25 Paid creditors $2,500 of accounts payable due. Nov-27 Performed services on account and billed customers for $900.

Nov-29 Received $820 from customers for services to be performed in the future.
Nov-30 Declared and paid a $450 dividend.

Instructions: Perform the following steps in the Excel workbook in chronological order .

1 Journalize the month's transactions. Use only accounts that appear in Larry Bird Ballers general ledger. Omit journal entry descriptions.
2 Post the months journal entries to the general ledger. Omit post references.
3 Prepare an (unadjusted) trial balance at the end of the month.
4 Journalize and post the following adjusting entries for the month:

a. Supplies on hand at the end of the month totaled $500. b. Accrued salaries payable are $2,080. c. Depreciation for the month is $300. d. Services were performed to satisfy $500 of unearned service revenue.
5 Prepare an adjusted trial balance at the end of the month.
6 Prepare financial statements:

a. Income statement [hint: net income = $37,990] b. Statement of retained earnings c. Balance sheet
7 Journalize and post closing entries for the month.
8 Prepare a post-closing trial balance at the end of the month.
9 Check all work against the rubric and ensure that no absolute criteria are violated.