I only need help with part b On November 1, 2022, Splish Brothers had the following account balances. The company uses the perpetual inventory method.DebitCreditCash$21,600 ACcumulated Depreciation-Equipment$2,400Accounts Recelvable5,376 Accounts Payable8,160Supplies2,064Unearned Service Revenue9,600Equipment60,000 Salaries and Wages Payable$89,040 Common Stock4,08048,000Retained Earmnings16,B00$89,040During November, the following summary transactions were completed.Nov. 8 Paid $8,520 for salaries due employees, of which $4,440 is for November and $4,080 is for October.10Received $4,560 cash from customers in payment of account.Purchased merchandise on account from Dimas Discount Supply for $19,200, terms 2/10, n/30.12 Sold merchandise on account for $13,200, terms 2/10, n/30. The cost of the merchandise sold was $9,600.15 Received credit from Dimas Discount Supply for merchandise returned $720.1119 Recelved collections in full, less discounts, from customers billed on sales of $13,200 on November 12.20Paid Dimas Discount Supply in full, less discount.22 Received $5,520 cash for services performed in November.25 Purchased equipment on account $12,000.27 Purchased supplies an account $4,080.28 Paid creditors $7,200 of accounts payable due.29 Paid November rent $900.29 Paid salaries $3,120.29 Performed services an account and billed customers $1,680 for those services.29 Received $1,620 from customers for services to be performed in the future.(a)Your answer is comrect.Enter the November 1 balances in ledger T-acounts.Cash11/1 Bal. V21600Accounts Receivable11/1 Bal.5376Supplies11/1 Bal.2064Equipment11/1 Bal.60000Accumulated Depreciation Equipment|11/1 Bal. V2400Accounts Payable11/1 Bal. VBI60Uncarned Service Revenue| 11/1 Bal. VSalaries and Wages Payable96011/1 Bal. V4080Common Stock| 11/1 Bal.48000Retained Earnings|11/1 Bal. V16800 (b)Journalize the November transactions. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, soto o decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.)DateAccount Titles and ExplanationDebitCreditNov. 8(To record crecit sale)(To record cost of merchandise solc)Nov. 19(To record November rent paid)(To record salaries paid)(To record services performed)(To record receipt for services to be performed)>>

Journal entries are the set of economic events that is can be measurable in terms of money. They…

On Navember 1, 2022, Splish Brothers had the fallowing account balances. The company uses the perpetual inventory method. Debit Credit Cash $21,600 Accumulated Depreciation-Equipment $2,400 Accounts Receivable 5,376 Accounts Payable 8,160 Supplies 2,064 Uneamed Service Revenue 9,600 Equipment G0,000 Salaries and Wages Payable S89,040 Common Stock 4,080 48,000 Retained Earmings 16,800 S89,040 During Navember, the following summary transactions were completed. Nov. 8 Paid $8,520 for salaries due employees, of which $4,440 is for November and $4,080 is for October. 10 Recnived $4,5a cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $19,200, terms 2/10, n/30. 12 Sold merchandise on account for $13,200, terms 2/10, n/30. The cost of the merchandise sold was 9,600. 15 Received credit from Dimas Discount Supply for merchandise returned $720. Recnived collections in full, less discounts, from customers billed on sales of $13,200 on Navember 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $5,520 cash for services performed in November. 19 25 Purchased equipment on account $12,000. 27 Purchased supplies an account $4,08o. 28 Paid creditors $7,200 of accounts payable due. 29 Paid November rent $900. 29 Paid salaries $3,120. 29 Performed services an account and billed customers $1,68D for those services. 29 Received $1,620 from customers for services to be perfommed in the future.

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q