SOALAN $3$

On November $1,2022,$ Zora Company had the following account balances. The company uses the

perpetual inventory method.

During November, the following transactions were completed.

Nov. Paid $$3,550$ for salaries and wages, of which $$1,850$ is for November and $$1,700$ is for

$8$ October.

$10$ Received $$1,900$ cash from customers in payment of account. No discount was allowed.

$11$ Purchased merchandise on account from Dimas Discount Supply for $$8,000,$ terms $\frac{2}{10},$

$\frac{n}{30}.$

$12$ Sold merchandise on account for $$5,500,$ terms $\frac{2}{10},\frac{n}{30}.$ The cost of the merchandise sold

was $$4,000.$

$15$ Received credit from Dimas Discount Supply for merchandise returned $$300.$

$19$ Received collections in full, less discounts, from customers billed on sales of $$5,500$ on

November $12.$

$20$ Paid Dimas Discount Supply in full, less discount.

$22$ Received $$2,300$ cash for services performed in November.

$25$ Purchased equipment on account $$5,000.$

$27$ Purchased supplies on account $$1,700.$

$28$ Paid creditors $$3,000$ of accounts payable due. No discount was taken.

$29$ Paid November rent $$375.$

$29$ Paid salaries and wages $$1,300.$

$29$ Performed services on account and billed customers $$700$ for those services.

$29$ Received $$675$ from customers for services to be performed in the future.

Adjustment data:

Supplies on hand total $$1,600.$

Accrued salaries and wages payable are $$$00.$

Depreciation for the month is $$250.$

$$650$ related to unearned service revenue remains unearned by month$-$end.

Instructions

Enter the November $1$ balances in ledger $T-$accounts.

Journaline the November transactions.

Post to the ledger accounts. You will need to add some accounts.

Joumalize and post adjusting entries.

Prepare an adjusted trial balance at November $30.$

Prepare a multiple$-$step income statement and an owner's equity statement for November and

a classified balance sheet at November $30.$

Journalize and post elosing entries.