Problem 4-07A On November 1, 2022, the following were the account balances of Sunland Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $ 3,420 3,100 1,750 10,630 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,930 400 810 10,630 3,630 $18,900 $18,900 During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 Paid $1,220 for salaries due employees, of which $410 is for November and $810 is for October salaries payable. Received $1,910 cash from customers in payment of account. Received $3,790 cash for services performed in November Purchased store equipment on account $3,970. Purchased supplies on account $1,350. Paid creditors $2,560 of accounts payable due. Paid November rent $540. Paid salaries $1,030. Performed services on account worth $990 and billed customers. Received $780 from customers for services to be performed in the future. 22 25 27 29 Enter the November 1 balances in the ledger accounts. Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Equipment 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.) Debit Credit Date Account Titles and Explanation 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. 3,420 Accounts Receivable 3,100 11/1 Bal. Supplies 1,750 11/1 Bal. Equipment 11/1 Bal. 10,630 Accumulated Depreciation - Equipment 11/1 Bal. 500 Accounts Payable 11/1 Bal. 2,930 Unearned Service Revenue 11/1 Bal. 400 Salaries and Wages Payable 11/1 Bal. Common Stock 11/1 Bal. 10,630 Retained Earnings 11/1 Bal. 3,630 Service Revenue Salaries and Wages Expense Rent Expense Prepare a trial balance at November 30. SUNLAND EQUIPMENT REPAIR Trial Balance Debit Credit 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 $1,220. 2. Accrued salaries payable are $500. 3. Depreciation for the month is $250. 4. Services were performed to satisfy $510 of unearned service revenue. Debit Credit No. Account Titles and Explanation 1. Post the above adjusting entries. (Post entries in the order of journal entries passed in the previous question.) 11/1 Bal. 11/10 11/12 11/29 11/30 Bal. 1,220 2,560 540 1,030 Cash 3,420 11/8 1,910 11/20 3,790 11/22 780 11/25 4,550 Accounts Receivable 3,100 11/10 990 2,180 Supplies 1,910 11/1 Bal. 11/27 11/30 Bal. 11/1 Bal. 1,750 11/27 1,350 Equipment 11/1 Bal. 10,630 11/15 3,970 11/30 Bal. 14,600 Accumulated Depreciation-Equipment 11/1 Bal. 500 11/20 Accounts Payable 2,560 11/1 Bal. 11/15 11/17 11/30 Bal. 2,930 3,970 1,350 5,690 Unearned Service Revenue 11/1 Bal. 400 11/29 780 Salaries and Wages Payable 810 11/1 Bal. 11/8 10,630 10,630 Common Stock 11/1 Bal. 11/30 Bal. Retained Earnings 11/1 Bal. 11/30 Bal. Service Revenue 3,630 3,630 11/12 3,790 11/27 990 Depreciation Expense Supplies Expense Salaries and Wages Expense 410 11/8 11/25 1,030 11/22 11/30 Bal. Rent Expense 540 540 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Prepare an adjusted trial balance. SUNLAND EQUIPMENT REPAIR Trial Balances Debit Credit Prepare an income statement for November 30. SUNLAND EQUIPMENT REPAIR Income Statement SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Prepare a retained earnings statement for November 30. SUNLAND EQUIPMENT REPAIR Retained Earnings Statement Prepare a classified balance sheet at November 30. (List current assets in order of liquidity.) SUNLAND EQUIPMENT REPAIR Balance Sheet Assets Liabilities and Stockholders' Equity