Prepare a multiple-step income statement for November. LARKSPUR Income Statement $ LA $ On November 1,...

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Prepare a multiple-step income statement for November. LARKSPUR Income Statement $ LA $ On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $5,400 Accumulated Depreciation-Equipment $600 Accounts Receivable 1,344 Accounts Payable 2,040 Supplies 516 Unearned Service Revenue 2,400 Equipment 15,000 Salaries and Wages Payable 1,020 $22,260 Common Stock 12,000 Retained Earnings 4,200 $22,260 During November, the following summary transactions were completed. Nov. 8 Paid $2,130 for salaries due employees, of which $1,110 is for November and $1,020 is for October. 10 Received $1,140 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $4,800, terms 2/10, n/30. 12 Sold merchandise on account for $3,300, terms 2/10, n/30. The cost of the merchandise sold was $2,400. 15 Received credit from Dimas Discount Supply for merchandise returned $200. 19 20 22 Received collections in full, less discounts, from customers billed on sales of $3,300 on November 12. Paid Dimas Discount Supply in full, less discount. 22 Received $1,380 cash for services performed in November. 25 Purchased equipment on account $3,000. 22 27 Purchased supplies on account $1,020. 28 Paid creditors $1,800 of accounts payable due. 29 29 2 2 2 29 Paid November rent $225. Paid salaries $780. Performed services on account and billed customers $420 for those services. 29 Received $405 from customers for services to be performed in the future. Enter the November 1 balances in ledger T-accounts. 11/1 Bal. 11/1 Bal. 5,400 Cash Accounts Receivable 1,344 Supplies 11/1 Bal. 516 11/1 Bal. Equipment 15,000 Accumulated Depreciation-Equipment 11/1 Bal. 600 Accounts Payable 11/1 Bal. 2,040 Unearned Service Revenue 11/1 Bal. 2,400 Salaries and Wages Payable 11/1 Bal. 1,020 Common Stock 11/1 Bal. 12,000 Retained Earnings 11/1 Bal. 4,200 Journalize the November transactions. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Nov. 8 Salaries and Wages Payable Salaries and Wages Expense Cash Nov. 10 Cash Accounts Receivable Nov. 11 Inventory Nov. 12 Nov. 12 Accounts Payable Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit 1,020 1,110 1,140 4,800 3,300 2,400 Credit Nov. 15 Nov. 19 Nov. 20 Accounts Payable Inventory Cash Sales Discounts Accounts Receivable Accounts Payable Inventory Cash Nov. 22 Cash Nov. 25 Service Revenue Equipment Accounts Payable Nov. 27 Supplies Accounts Payable 200 3,234 66 4,600 1,380 3,000 1,020 Nov. 28 Accounts Payable Nov. 29 Nov. 29 Nov. 29 Nov. 29 Cash Rent Expense Cash (To record November rent paid) Salaries and Wages Expense Cash (To record salaries paid) Accounts Receivable Service Revenue (To record services performed) Cash Unearned Service Revenue (To record receipt for services to be performed) 1,800 225 780 420 405 Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) 11/1 Bal. Cash 5,400 11/8 11/10 1,140 11/20 11/19 3,234 11/28 11/22 1,380 11/29 11/29 > 2,130 4,508 1,800 225 405 11/29 780 11/30 Bal. 2,116 11/1 Bal. Accounts Receivable 1,344 11/10 1,140 11/12 3,300 11/19 3,300 11/29 420 11/30 Bal. 624 Inventory 11/11 4,800 11/12 11/30 Bal. 2,108 11/1 Bal. 11/27 11/1 Bal. 11/25 11/30 Bal. 2,400 11/15 200 11/20 Supplies 516 1,020 Equipment 15,000 3,000 18,000 Accumulated Depreciation-Equipment 11/1 Bal. 600 92 22 Accounts Payable 11/15 200 11/1 Bal. 2,040 11/20 4,600 11/11 4,800 11/28 1,800 11/25 3,000 11/8 11/27 1,020 11/30 Bal. 4,260 Unearned Service Revenue 11/1 Bal. 2,400 11/29 405 Salaries and Wages Payable 1,020 11/1 Bal. 1,020 Common Stock 11/1 Bal. 12,000 11/30 Bal. 12,000 11/8 11/29 Retained Earnings 11/1 Bal. 4,200 Service Revenue 11/22 1,380 11/29 Salaries and Wages Expense 1,110 780 Rent Expense 11/29 225 11/12 Sales Revenue 420 11/12 3,300 Cost of Goods Sold 2,400 Sales Discounts 11/19 66 Adjustment data: 1. Supplies on hand are valued at $960. 2. Accrued salaries payable are $300. 3. Depreciation for the month is $150. 4. $390 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 O for the amounts. List all debit entries before credit entries.) No. Date Account Titles and Explanation Nov. 1. Supplies Expense 30 Supplies Nov. 2. Salaries and Wages Expense 30 Salaries and Wages Payable Nov. 3. Depreciation Expense 30 Accumulated Depreciation-Equipment Nov. 4. Unearned Service Revenue 30 Service Revenue Debit 576 300 150 2,415 Credit 576 300 150 2,415 Post the above adjusting entries. (Post entries in the order of journal entries presented above.) Cash 11/1 Bal. 5,400 11/8 2,130 11/10 1,140 11/20 4,508 11/19 3,234 11/28 1,800 11/22 1,380 11/29 225 11/29 405 11/29 780 11/30 Bal. 2,116 Accounts Receivable 11/1 Bal. 1,344 11/10 1,140 11/12 3,300 11/19 3,300 11/29 420 11/30 Bal. 624 Inventory 11/11 4,800 11/12 2,400 11/15 200 11/20 92 11/30 Bal. 2,108 Supplies 11/1 Bal. 516 Adj. 11/27 11/30 Bal. 1,020 960 Equipment 11/1 Bal. 15,000 11/25 3,000 11/30 Bal. 18,000 > > Accumulated Depreciation-Equipment 11/1 Bal. Accounts Payable Adj. 11/30 Bal. 11/15 200 11/1 Bal. 2,040 11/20 4,600 11/11 4,800 11/28 1,800 11/25 3,000 11/27 1,020 11/30 Bal. 4,260 576 600 150 750 Adj. Unearned Service Revenue 2,415 11/1 Bal. 2,400 11/29 405 11/30 Bal. 390 11/8 Salaries and Wages Payable 1,020 11/1 Bal. Common Stock Adj. 11/30 Bal. 11/1 Bal. 12,000 11/30 Bal. 12,000 Retained Earnings 11/1 Bal. 4,200 1,020 300 300 > Service Revenue 11/22 1,380 11/29 Adj. Adj. Depreciation Expense 150 Adj. Supplies Expense 576 11/8 Salaries and Wages Expense 1,110 11/29 Adj. 11/29 780 300 Rent Expense 225 > 420 2,415 Sales Revenue 11/12 3,300 Cost of Goods Sold 11/12 2,400 Sales Discounts 11/19 66 Prepare an adjusted trial balance at November 30. Cash Accounts Receivable Supplies Inventory Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue LARKSPUR Adjusted Trial Balance November 30, 2025 Debit 2,116 624 960 2,108 18,000 +A Credit 750 4,260 300 390 12,000 4,200 4,215 Cost of Goods Sold Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Sales Discounts Sales Revenue Totals 2,400 2,190 225 150 576 66 $ +A 29,415 LA 3,300 29,415 Prepare a multiple-step income statement for November. LARKSPUR Income Statement $ LA $ $ Prepare a multiple-step income statement for November. LARKSPUR Income Statement $ LA $ On November 1, 2025, Larkspur Inc. had the following account balances. The company uses the perpetual inventory method. Debit Credit Cash $5,400 Accumulated Depreciation-Equipment $600 Accounts Receivable 1,344 Accounts Payable 2,040 Supplies 516 Unearned Service Revenue 2,400 Equipment 15,000 Salaries and Wages Payable 1,020 $22,260 Common Stock 12,000 Retained Earnings 4,200 $22,260 During November, the following summary transactions were completed. Nov. 8 Paid $2,130 for salaries due employees, of which $1,110 is for November and $1,020 is for October. 10 Received $1,140 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $4,800, terms 2/10, n/30. 12 Sold merchandise on account for $3,300, terms 2/10, n/30. The cost of the merchandise sold was $2,400. 15 Received credit from Dimas Discount Supply for merchandise returned $200. 19 20 22 Received collections in full, less discounts, from customers billed on sales of $3,300 on November 12. Paid Dimas Discount Supply in full, less discount. 22 Received $1,380 cash for services performed in November. 25 Purchased equipment on account $3,000. 22 27 Purchased supplies on account $1,020. 28 Paid creditors $1,800 of accounts payable due. 29 29 2 2 2 29 Paid November rent $225. Paid salaries $780. Performed services on account and billed customers $420 for those services. 29 Received $405 from customers for services to be performed in the future. Enter the November 1 balances in ledger T-accounts. 11/1 Bal. 11/1 Bal. 5,400 Cash Accounts Receivable 1,344 Supplies 11/1 Bal. 516 11/1 Bal. Equipment 15,000 Accumulated Depreciation-Equipment 11/1 Bal. 600 Accounts Payable 11/1 Bal. 2,040 Unearned Service Revenue 11/1 Bal. 2,400 Salaries and Wages Payable 11/1 Bal. 1,020 Common Stock 11/1 Bal. 12,000 Retained Earnings 11/1 Bal. 4,200 Journalize the November transactions. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Nov. 8 Salaries and Wages Payable Salaries and Wages Expense Cash Nov. 10 Cash Accounts Receivable Nov. 11 Inventory Nov. 12 Nov. 12 Accounts Payable Accounts Receivable Sales Revenue (To record credit sale) Cost of Goods Sold Inventory (To record cost of merchandise sold) Debit 1,020 1,110 1,140 4,800 3,300 2,400 Credit Nov. 15 Nov. 19 Nov. 20 Accounts Payable Inventory Cash Sales Discounts Accounts Receivable Accounts Payable Inventory Cash Nov. 22 Cash Nov. 25 Service Revenue Equipment Accounts Payable Nov. 27 Supplies Accounts Payable 200 3,234 66 4,600 1,380 3,000 1,020 Nov. 28 Accounts Payable Nov. 29 Nov. 29 Nov. 29 Nov. 29 Cash Rent Expense Cash (To record November rent paid) Salaries and Wages Expense Cash (To record salaries paid) Accounts Receivable Service Revenue (To record services performed) Cash Unearned Service Revenue (To record receipt for services to be performed) 1,800 225 780 420 405 Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) 11/1 Bal. Cash 5,400 11/8 11/10 1,140 11/20 11/19 3,234 11/28 11/22 1,380 11/29 11/29 > 2,130 4,508 1,800 225 405 11/29 780 11/30 Bal. 2,116 11/1 Bal. Accounts Receivable 1,344 11/10 1,140 11/12 3,300 11/19 3,300 11/29 420 11/30 Bal. 624 Inventory 11/11 4,800 11/12 11/30 Bal. 2,108 11/1 Bal. 11/27 11/1 Bal. 11/25 11/30 Bal. 2,400 11/15 200 11/20 Supplies 516 1,020 Equipment 15,000 3,000 18,000 Accumulated Depreciation-Equipment 11/1 Bal. 600 92 22 Accounts Payable 11/15 200 11/1 Bal. 2,040 11/20 4,600 11/11 4,800 11/28 1,800 11/25 3,000 11/8 11/27 1,020 11/30 Bal. 4,260 Unearned Service Revenue 11/1 Bal. 2,400 11/29 405 Salaries and Wages Payable 1,020 11/1 Bal. 1,020 Common Stock 11/1 Bal. 12,000 11/30 Bal. 12,000 11/8 11/29 Retained Earnings 11/1 Bal. 4,200 Service Revenue 11/22 1,380 11/29 Salaries and Wages Expense 1,110 780 Rent Expense 11/29 225 11/12 Sales Revenue 420 11/12 3,300 Cost of Goods Sold 2,400 Sales Discounts 11/19 66 Adjustment data: 1. Supplies on hand are valued at $960. 2. Accrued salaries payable are $300. 3. Depreciation for the month is $150. 4. $390 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 O for the amounts. List all debit entries before credit entries.) No. Date Account Titles and Explanation Nov. 1. Supplies Expense 30 Supplies Nov. 2. Salaries and Wages Expense 30 Salaries and Wages Payable Nov. 3. Depreciation Expense 30 Accumulated Depreciation-Equipment Nov. 4. Unearned Service Revenue 30 Service Revenue Debit 576 300 150 2,415 Credit 576 300 150 2,415 Post the above adjusting entries. (Post entries in the order of journal entries presented above.) Cash 11/1 Bal. 5,400 11/8 2,130 11/10 1,140 11/20 4,508 11/19 3,234 11/28 1,800 11/22 1,380 11/29 225 11/29 405 11/29 780 11/30 Bal. 2,116 Accounts Receivable 11/1 Bal. 1,344 11/10 1,140 11/12 3,300 11/19 3,300 11/29 420 11/30 Bal. 624 Inventory 11/11 4,800 11/12 2,400 11/15 200 11/20 92 11/30 Bal. 2,108 Supplies 11/1 Bal. 516 Adj. 11/27 11/30 Bal. 1,020 960 Equipment 11/1 Bal. 15,000 11/25 3,000 11/30 Bal. 18,000 > > Accumulated Depreciation-Equipment 11/1 Bal. Accounts Payable Adj. 11/30 Bal. 11/15 200 11/1 Bal. 2,040 11/20 4,600 11/11 4,800 11/28 1,800 11/25 3,000 11/27 1,020 11/30 Bal. 4,260 576 600 150 750 Adj. Unearned Service Revenue 2,415 11/1 Bal. 2,400 11/29 405 11/30 Bal. 390 11/8 Salaries and Wages Payable 1,020 11/1 Bal. Common Stock Adj. 11/30 Bal. 11/1 Bal. 12,000 11/30 Bal. 12,000 Retained Earnings 11/1 Bal. 4,200 1,020 300 300 > Service Revenue 11/22 1,380 11/29 Adj. Adj. Depreciation Expense 150 Adj. Supplies Expense 576 11/8 Salaries and Wages Expense 1,110 11/29 Adj. 11/29 780 300 Rent Expense 225 > 420 2,415 Sales Revenue 11/12 3,300 Cost of Goods Sold 11/12 2,400 Sales Discounts 11/19 66 Prepare an adjusted trial balance at November 30. Cash Accounts Receivable Supplies Inventory Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue LARKSPUR Adjusted Trial Balance November 30, 2025 Debit 2,116 624 960 2,108 18,000 +A Credit 750 4,260 300 390 12,000 4,200 4,215 Cost of Goods Sold Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Sales Discounts Sales Revenue Totals 2,400 2,190 225 150 576 66 $ +A 29,415 LA 3,300 29,415 Prepare a multiple-step income statement for November. LARKSPUR Income Statement $ LA $ $