On November 1, Cool Town Equipment had a beginning balance in the Office Supplies account of $700. During the month, Cool Town purchased $1,700 of office supplies. At November 30, Cool Town Equipment had $600 of office supplie hand, Requirements 1. Record the adjusting entry required at November 30. 2. The Office Supplies T-account has been opened for you. Enter the beginning balance and purchase of office supplies. Post the adjusting entry to the two accounts involved, and show their balances November 30 Requirement 1. Record the adjusting entry required at November 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Nov. 30 Requirement 2. The Office Supplies T-account has been opened for you. Enter the beginning balance and purchase of office supplies. Post the adjusting entry to the two accounts involved, and show their balances at November 30. Use "Nov. 1" as a posting reference to enter the beginning balance of the Office Supplies account, and use "Nov. purchases" as a posting reference to post the purchase of office supplies during the month. Select the account name of the o account affected by the Office Supplies adjustment. Post the adjustment to the two accounts using a "Nov. 30" posting reference, and then calculate and enter the ending balance of the accounts using a "Bal." posting reference. Office Supplies Granite State Telephone and Telegram has these account balances at December 31, 2024: (Click the icon to view the account balances.) Requirements 1. Calculate Granite State Telephone and Telegram's current ratio. 2. How much in current assets does Granite State Telephone and Telegram have for every dollar of current liabilities that it owes? Requirement 1. Calculate Granite State Telephone and Telegram's current ratio. (Round your answer to two decimal places, X.XX.) . Current ratio + Requirement 2. How much in current assets does Granite State Telephone and Telegram have for every dollar of current liabilities that it owes? (Enter the amount to the nearest cent.) The company has of current assets for every dollar of current liabilities that it owes. Data table S 7,900 Accounts Payable $ 3,500 2,000 6,000 Accounts Receivable Cash 2,100 3,200 Notes Payable, long-term Prepaid Rent Salaries Payable Service Revenue Office Supplies Accumulated Depreciation-Equip. Advertising Expense 13,800 1,200 900 22.000 Depreciation Expense-Equip. Equipment Common Stock Rent Expense 5,500 4,700 1,600 600 Darell Hair Stylists' adjusted trial balance follows. Prepare Darell's income statement for the year ended December 31, 2024. B (Click on the icon to view the adjusted trial balance.) Data table Darell Hair Stylists Income Statement Year Ended December 31, 2024 Balance Debit Credit Account Title Cash $ 1,500 1.200 Accounts Receivable Office Supplies 1,300 19,600 $ 2,000 Equipment Accumulated DepreciationEquipment Accounts Payable Interest Payable Notes Payable 950 950 3,700 Net Income (Loss) Common Stock 10,700 Dividends 1,500 14,100 Service Revenue Rent Expense 4.000 500 Supplies Expense Depreciation Expense-Equipment 2.000 800 Interest Expense $ 32,400 $ 32,400 Total
