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Using this information: Prepare an income statement and a retained earnings statement for November and a classified balance sheet at November 30. On November 1,
Using this information: Prepare an income statement and a retained earnings statement for November and a classified balance sheet at November 30.
On November 1, 2017, the following were the account balances of Georgia Outdoor Living. During November, the following summary transactions were completed. Nov. Paid $1,220 for salaries due employees, of which $600 is for November and $620 is for 8 October salaries payable. 10 Received \$1,800 cash from customers in payment of account. 12 Received $3,700 cash for services performed in November. 15 Purchased store equipment on account $3,600. 17 Purchased supplies on account $1,300. 20 Paid creditors $2,500 of accounts payable due. 22 Paid November rent $480. 25 Paid salaries $1,000. 27 Performed services on account worth $900 and billed customers. 29 Received $750 from customers for services to be performed in the future. Adjustment data: 1. Supplies on hand are valued at $1,100. 2. Accrued salaries payable are $480. 3. Depreciation for the month is $250. 4. Services were performed to satisfy $500 of unearned service revenueStep by Step Solution
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