Please just fix the wrong answers in red in the last part (thank you)
Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Shamrock had the following account balances. The company uses the perpetual inventory method. Cash Accounts Receivable Supplies Equipment Debit $19,800 Accumulated Depreciation Equipment 4,928 Accounts Payable 1,892 Unearned Service Revenue 55,000 Salaries and Wages Payable $81,620 Common Stock Retained Earnings Credit $2,200 7,480 8,800 3,740 44,000 15,400 $81,620 During November, the following summary transactions were completed. Nov. 8 10 11 12 15 19 20 22 25 27 28 29 29 29 29 Paid $7,810 for salaries due employees, of which $4,070 is for November and $3,740 is for October Received $4,180 cash from customers in payment of account. Purchased merchandise on account from Dimas Discount Supply for $17,600, terms 2/10, n/30. Sold merchandise on account for 512,100, terms 2/10, n/30. The cost of the merchandise sold was $8,800. Received credit from Dimas Discount Supply for merchandise returned $660. Received collections in full, less discounts, from customers billed on sales of $12,100 on November 12. Paid Dimas Discount Supply in full, less discount Received $5,060 cash for services performed in November Purchased equipment on account $11,000. Purchased supplies on account 53,740. Paid creditors $6,600 of accounts payable due. Paid November rent 5825. Paid salaries $2,860. Performed services on account and billed customers $1,540 for those services, Received $1,485 from customers for services to be performed in the future, Admat data: 2 Acord s 100 Some theating Cred accounts are automatically indented when the amount is entered. Do not inden ma a r He Dute A n d Explotion 1. Sales Expense Supplies 2. Nov. 30 Staries and Wages Expense Salaries and Wages Payabile 3. Nov. 30 Depreciation Expanse | Accumulated Depreciation-topment 4. Nov 30 nared Service Revenue | Service Revenue Post the above adjusting entries. (Post entries in the order of journal entries presented abo 11/1 Bal. 11/10 11/19 11/22 11/29 11/30 Bal. 7,810 16,601 6,600 825 2,860 Cash 19,800 11/8 4,18011/20 11,85811/28 5,06011/29 1,485|11/29 7,6871 Accounts Receivable 4,92811/10 12,100 11/19 1.540 2,2881 4,180 12,100 11/1 Bal 11/12 11/29 11/30 Bal. 11/11 Inventory 17,60011/12 11/15 8,800 1120 11/30 Bal. 7,801 Supplies 1,892 Adj 11/1 Bal. 11/27 3,740 11/30 Bal. 11/1 Bal. 11/25 11/30 Bal 3520 Equipment 55,000 11.000 66,000 Accumulated Depreciation-Equipment 1/1 Bal. 2,200 550 2750 11/15 11/20 11/28 TT 11/30 Bal Accounts Payable 660 11/1 Ball 16,94011/11 6,600 11/25 11/27 111/30 Bal. Unearned Service Revenue 8855 11/1 Bal. 7,480 17,600 11,000 3,740 15,620 8,800 11/29 1,485 1430 11/30 Bal. Salaries and Wages Payable 3,74011/1 Bal. Adj. 3,740 1100 11/30 Bal. 1100 Common Stock 11/1 Bal 11/30 Bal. Retained Earnings 44,000 44,000 11/1 Bal. 15,400 Sardice Revenue Service Revenue 11/22 5,060 11/29 1,540 1 8855 Adj. Depreciation Expense Supplies Expense adj. 2112 Salaries and Wages Expense 11/8 4,0701 11/29 2,860 Ad). 11001 Rent Expense 11/29 Sales Revenue T 11/12 12,100 Cost of Goods Sold 11/12 3,800 8,800] 7 Sales Discounts 11/19 Your answer is correct. Prepare an adjusted trial balance at November 30. SHAMROCK Adjusted Trial Balance November 30, 2022 Debit Credit Trash Accounts Receivable Inventory Supplies 3 66000 Equipment Accumulated Depreciation-Equipment 2750 Accounts Payable T 15620 Unearned Service Revenue Salaries and Wages Payable Common Stock 44000 Retained Earnings CURAELULILULISELT THITHHHHHHHIIII 15400 Service Revenue 15455 Depreciation Expense Supplies Expense Salaries and Wages Expense Rent Expense Sales Revenue Cost of Goods Sold 8800 Sales Discounts Totals Prepare a multiple-step income statement for November. SHAMROCK Income Statement For the Month Ended November 30, 2022 Sales Revenue Sales Discounts T Net Sales 11858 Service Revenue 15455 | Total Revenues 27313 Cost of Goods Sold 8800 Gross Profit 18513 Expenses Depreciation Expense Supplies Expense Salaries and Wages Expense Rent Expense Total Expenses 11517 Net Income / (Loss) 6996 Your answer is correct. Prepare a retained earnings statement for November. SHAMROCK Retained Earnings Statement For the Month Ended November 30, 2022 Retained Earnings, November 1 15400 Net Income / (Loss) 6996 Retained Earnings, November 30 22396 Prepare a classified balance sheet at November 30. (List Current Assets in order of liquidity.) | SHAMROCK Balance Sheet November 30, 2022 Assets Current Assets T 7687 Accounts Receivable T T Inventory 2288 7801 3520 Supplies T | Total Current Assets 21296 Property, Plant and Equipment Equipment 66000 | Less Accumulated Depreciation Equipment 2750 | Total Property, Plant and Equipment 63250 Total Assets 84546 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable T 15620 Salaries and Wages Payable T T 1100 1430 Unearned Service Revenue 18150 Total Current Liabilities Stockholders' Equity Common Stock 44000 Retained Earnings T 22396 | Total Stockholders' Equity 66396 Total Liabilities and Stockholders' Equity 84546 Your answer is partially corred. Try again Journalize the doing antrics. (Credit account titles are aut elect "No Entry for the accounties and enter for the amount Date Account Titles and Explanation No. 30 same Tservice Revenue come Summary (To deserve accounts and other accounts with credit balances 30 income Summary Sales Dicons Depreciation Expense TSars and Wages pense Rent Expanse T Cost of Goods Sold (Todose expense accounts and other accounts with deb bilances) 30 Income Summary Retained Earnings (To documentary) Post the closing entries. (Post entries in the order of journal entries presented above, or accounts that have a zero balance select "11/30 Bal." from the list and enter o for the amount.) 11/1 Ball 11/10 11/19 11/22 11/29 11/30 Ball 7,810 16,601 6,600 825 2,860 4,180 12,100 11/1 Bal 11/12 11/29 11/30 Bal Cash 19,800 11/8 4,180 11/20 11,85811/28 5,06011/29 1,485 11/29 7,6871 Accounts Receivable 4,92811/10 12,100 11/19 1.540 2,2881 Inventory 17,600 11/12 111/15 11/20 7.8011 Supplies 1,892 Adj. 3,740 3,5201 11/11 8.800 660 11/30 Bal. 11/1 Ball 11/27 11/30 Bal. 11/1 Bal 11/25 11/30 Bal. Equipment 55,000 11,000 66,000 Accumulated Depreciation-Equipment 11/1 Bal. 2,200 550 2.750 11/15 11/20 11/25 11/30 Bal. Accounts Payable 660 11/1 Bal. 16,94011/11 6,600 11/25 7.450 17.500 11,000 3.700 15,620 1130 B Unearned Service Revenue 8,855|11/1 Bal. 11/29 11/30 Bal Salaries and Wages Payable 3,740 11/1 Bal. 8.800 1.495 1.430 1.100 1,100 11/30 Bal. Common Stock 11/1 Bal. 11/30 Bal. 44.000 44,000 Retained Earnings 1/1 Bal. 15,400 111/30 6996 22396 11/30 Bal. Service Revenue 15455 11/22 5,060 11/29 1,540 Adj. 8,855 11/30 Bal. Depreciation Expense 550 11/30 Adi 11/30 Bal. Supplies Expense Adj. 2,112 11/30 11/30 Bal. 1 Salaries and Wages Expense 11/8 4,070 11:30 4,0701 11/30 11/29 2,8601 Adj. 1,100] 11/30 Bal. Rent Expense 11/29 8251 11/30 11/30 Bal. I 11/29 1,30 bal. 9 1/30 I Sales Revenue I 12:00 - 11/20 Bal. Y O Cost of Goods Sold 11/12 8,800 11/30 11/30 Bal. Sales Discounts 11/19 11/30 11/30 Bal. Income Summary 11/30 6996 1130 6996 11/30 Bal
