On November 1, 2022, Marin Inc. had the following account balances. The company uses the perpetual inventory method Cash Accounts Receivable Supplies Equipment 12 15 Debit 19 $9.180 Accumulated Depreciation-Equipment 2,285 Accounts Payable 877 Unearned Service Revenue 25,500 Salaries and Wages Payable $37,842 Common Stock Retained Earnings During November, the following summary transactions were completed. Nov. 8 Paid $3,621 for salaries due employees, of which $1,887 is for November and $1,734 is for October. 10 Received $1.938 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8.200, terms 2/10, n/30. Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,080. Adjustment data: Credit $1,020 3,468 4,080 1,734 20,400 Received credit from Dimas Discount Supply for merchandise returned $300. Received collections in full, less discounts, from customers billed on sales of $5,600 on November 12. Paid Dimas Discount Supply in full, less discount. 20 22 Received $2,346 cash for services performed in November. 25 Purchased equipment on account $5.100. 27 Purchased supplies on account $1.734 28 Paid creditors $3,060 bf accounts payable due. 29 Paid November rent $383. 29 Paid salaries $1.326. 29 Performed services on account and billed customers $714 for those services 29 Received $689 from customers for services to be performed in the future. 7,140 $37.842 1 Supplies on hand are valued at $1,632 2 Accrued salaries payable are $510. 3. Depreciation for the month is $255. 4 $663 of services related to the unearned service revenue has not been performed by month-end.
On November 1, 2022, Marin Inc. had the following account balances. The company uses the perpetual inventory method Cash Accounts Receivable Supplies Equipment 12 15 Debit 19 $9.180 Accumulated Depreciation-Equipment 2,285 Accounts Payable 877 Unearned Service Revenue 25,500 Salaries and Wages Payable $37,842 Common Stock Retained Earnings During November, the following summary transactions were completed. Nov. 8 Paid $3,621 for salaries due employees, of which $1,887 is for November and $1,734 is for October. 10 Received $1.938 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $8.200, terms 2/10, n/30. Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,080. Adjustment data: Credit $1,020 3,468 4,080 1,734 20,400 Received credit from Dimas Discount Supply for merchandise returned $300. Received collections in full, less discounts, from customers billed on sales of $5,600 on November 12. Paid Dimas Discount Supply in full, less discount. 20 22 Received $2,346 cash for services performed in November. 25 Purchased equipment on account $5.100. 27 Purchased supplies on account $1.734 28 Paid creditors $3,060 bf accounts payable due. 29 Paid November rent $383. 29 Paid salaries $1.326. 29 Performed services on account and billed customers $714 for those services 29 Received $689 from customers for services to be performed in the future. 7,140 $37.842 1 Supplies on hand are valued at $1,632 2 Accrued salaries payable are $510. 3. Depreciation for the month is $255. 4 $663 of services related to the unearned service revenue has not been performed by month-end.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 9PA: On December 31, 2019, the balances of the accounts appearing in the ledger of Wyman Company are as...
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![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. Round answers to O decimal places, e.g. 5,275.
Record journal entries in the order presented in the problem.)
Date
Nov. 8
#
Nov. 19
#
#
Account Titles and Explanation
(To record credit sale)
(To record cost of merchandise sold)
(To record November rent paid)
(To record salaries paid)
(To record services performed)
(To record receipt for services performed)
Debit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1f14f6a-a7ed-4f11-b158-04de0a533a47%2Ff96ad080-f5ea-4098-8ae2-e754185509bb%2Fdjgd186_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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. Round answers to O decimal places, e.g. 5,275.
Record journal entries in the order presented in the problem.)
Date
Nov. 8
#
Nov. 19
#
#
Account Titles and Explanation
(To record credit sale)
(To record cost of merchandise sold)
(To record November rent paid)
(To record salaries paid)
(To record services performed)
(To record receipt for services performed)
Debit
![On November 1, 2022, Marin Inc. had the following account balances. The company uses the perpetual Inventory
method
Cash
Accounts Receivable
Supplies
Equipment
1
2
12
3.
During November, the following summary transactions were completed.
Nov. 8 Paid $3,621 for salaries due employees, of which $1,887 is for November and $1.734 is for October.
10
Received $1,938 cash from customers in payment of account.
11
Purchased merchandise on account from Dimas Discount Supply for $8,200, terms 2/10, n/30.
15
19
20
22
25
27
28
29
29
29
29
Debit
$9.180 Accumulated Depreciation-Equipment
2,285
Accounts Payable
877
Unearned Service Revenue
25,500
Salaries and Wages Payable
$37,842
Common Stock
Retained Earnings
Adjustment data:
Credit
Purchased equipment on account $5.100.
Purchased supplies on account $1,734.
$1,020
3,468
4,080
1.734
20,400
7,140
$37,842
Sold merchandise on account for $5,600, terms 2/10, r/30. The cost of the merchandise sold was
$4,080.
Received credit from Dimas Discount Supply for merchandise returned $300.
Received collections in full, less discounts, from customers billed on sales of $5,600 on November 12.
Paid Dimas Discount Supply in full, less discount.
Received $2,346 cash for services performed in November.
Paid creditors $3,060 bf accounts payable due.
Paid November rent $383.
Pald salaries $1.326.
Performed services on account and billed customers $714 for those services
Received $689 from customers for services to be performed in the future.
Supplies on hand are valued at $1,632.
Accrued salaries payable are $510.
Depreciation for the month is $255.
$663 of services related to the unearned service revenue has not been performed by month-end.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1f14f6a-a7ed-4f11-b158-04de0a533a47%2Ff96ad080-f5ea-4098-8ae2-e754185509bb%2Frfpj43x_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On November 1, 2022, Marin Inc. had the following account balances. The company uses the perpetual Inventory
method
Cash
Accounts Receivable
Supplies
Equipment
1
2
12
3.
During November, the following summary transactions were completed.
Nov. 8 Paid $3,621 for salaries due employees, of which $1,887 is for November and $1.734 is for October.
10
Received $1,938 cash from customers in payment of account.
11
Purchased merchandise on account from Dimas Discount Supply for $8,200, terms 2/10, n/30.
15
19
20
22
25
27
28
29
29
29
29
Debit
$9.180 Accumulated Depreciation-Equipment
2,285
Accounts Payable
877
Unearned Service Revenue
25,500
Salaries and Wages Payable
$37,842
Common Stock
Retained Earnings
Adjustment data:
Credit
Purchased equipment on account $5.100.
Purchased supplies on account $1,734.
$1,020
3,468
4,080
1.734
20,400
7,140
$37,842
Sold merchandise on account for $5,600, terms 2/10, r/30. The cost of the merchandise sold was
$4,080.
Received credit from Dimas Discount Supply for merchandise returned $300.
Received collections in full, less discounts, from customers billed on sales of $5,600 on November 12.
Paid Dimas Discount Supply in full, less discount.
Received $2,346 cash for services performed in November.
Paid creditors $3,060 bf accounts payable due.
Paid November rent $383.
Pald salaries $1.326.
Performed services on account and billed customers $714 for those services
Received $689 from customers for services to be performed in the future.
Supplies on hand are valued at $1,632.
Accrued salaries payable are $510.
Depreciation for the month is $255.
$663 of services related to the unearned service revenue has not been performed by month-end.
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