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Comprehensive Accounting Cycle Review 5-02 (Part Level Submission) On November 1, 2022, Larkspur had the following account ba(d) Your answer is partially correct. Try again. Adjustment data: 1. 2. 3. 4. Supplies on hand are valued at $4,640. AccruedSupplies 11/1 Bal. 2,494 Adj. 99 870 11/27 4,9301 11/30 Bal. 6554 11/1 Bal. 11/25 11/30 Bal. Equipment 72,500 14,500 87,000 A(e) Prepare an adjusted trial balance at November 30. LARKSPUR Adjusted Trial Balance Debit Credit Totals

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Answer #1
D) Adjusting Journal Entries
No. Date Account Tittles and Explanation Debit Credit
1 Nov. 30 Supplies Expense $      2,784
Supplies Expense $         2,784
To record supplies expense
2 Nov. 30 Salaries and Wages Expense 1450
Salaries and Wages Payable 1450
3 Nov. 30 Depreciation Expense 725
Accumulated Depreciation-Equipment 725
4 Nov. 30 Unearned Service Revenue $     11,673
Service Revenue $        11,673
To record service revenue earned
Notes:
Supplies Expense = Beg. Balance of supplies + Additional purchase - End. Balance
Supplies Expense = $2,494 + $4,930 - $4,640 = $2,784
Revenue from unearned service revenue = Beg. Balance of unearned service revenue + unearned
Service revenue received in Nov. - Service not provided in Nov. from unearned revenue
Revenue from unearned service revenue = 11,600 + 1,958 -1885 = $11,673

Corrected Ledgers Account:

Supplies
1-Nov Bal. 2494 30-Nov Adj. 2784
27-Nov 4930
30-Nov Bal. 4640
Unearned Service Revenue
30-Nov Adj. 11,673 1-Nov Bal. 11,600
29-Nov 1,958
30-Nov Bal. 1,885
Service Revenue
22-Nov 6670
29-Nov 2030
30-Nov Adj. 11673
30-Nov Bal. 20373
Supplies Expense
30-Nov Adj. 2784
E. Adjusted Trial Balance
LARKSPUR
Adjusted Trial Balance
Fr the Month Ended Nov.30, 2022
Account Tittle Debit Credit
Cash $     10,134
Account Receivable 3,016
Inventory 10,283
Supplies 4,640
Equipment 87,000
Accumulated Depreciation-Equipment $         3,625
Account Payable 20,590
Unearned Service Revenue 1,885
Salaries and Wage Payable 1,450
Common Stock 58,000
Retained Earnings 20,300
Service Revenue 20,373
Depreciation Expense 725
Supplies Expense 2,784
Salaries and Wage Expense 10,585
Rent Expense 1,087
Sales Revenue 15,950
Cost of Goods Sold 11,600
Sales Discount 319
Total $ 142,173 $    142,173
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