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Please prepare the multistep income statement for November On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedPlease prepare the multistep income statement for November

On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method. During November, the following summary transactions were completed. Nov. 8 Paid $10,295 for salaries due employees, of which $5,365 is for November and $4,930 is for October. 10 Received $5,510 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $23,200, terms 2/10, n/30. 12 Sold merchandise on account for $15,950, terms 2/10,n/30. The cost of the merchandise sold was $11,600. 15 Received credit from Dimas Discount Supply for merchandise returned $900. 19 Received collections in full, less discounts, from customers billed on sales of $15,950 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $6,670 cash for services performed in November. 25 Purchased equipment on account $14,500. 27 Purchased supplies on account $4,930. 28 Paid creditors $8,700 of accounts payable due. 29 Paid November rent \$1,087. 29 Paid salaries $3,770. 29 Performed services on account and billed customers $2,030 for those services. 29 Received $1,958 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $4,640. 2. Accrued salaries payable are $1,450. 3. Depreciation for the month is $725. 4. $1,885 of services related to the unearned service revenue has not been performed by month-end. Journalize the adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) LARKSPUR Adjusted Trial Balance November 30, 2025 Credit Cash $ Accounts Receivable Supplies 4,640 Equipment 87,000 Accumulated Depreciation-Equipment 3,625 Accounts Payable 20,590 Unearned Service Revenue 1,885 Salaries and Wages Payable 1,450 Common Stock 58,000 Retained Earnings 20,300 Service Revenue 20,373 Depreciation Expense Supplies Expense Salaries and Wages Expense 10,585 Rent Expense 1,087 Sales Revenue 15,950 Cost of Goods Sold 11,600 Sales Discounts 319 Inventory Totals Prepare a multiple-step income statement for November. LARKSPUR Income Statement For the Month Ended November 30, 2025 Revenues Service Revenue $ Total Revenues $ Depreciation Expense Supplies Expense Salaries and Wages Expense Rent Expense Total Operating Expenses Net Income / (Loss)

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