On September 1, 2001, the following were the account balances of Rijo Equipment Repair:

During September the following summary transactions were completed:
Sept. 8 Paid $1,100 for salaries due employees, of which $600 is for September and $500 is for August. .
10 Received $1,200 cash from customers on account.
12 Received $3,400 cash for services performed in September.
15 Purchased store equipment on account $3,000.
17 Purchased supplies on account $1,500.
20 Paid creditors $4,500 on account.
22 Paid September rent $500.
25 Paid salaries $1,050.
27. Performed services on account and billed customers for services rendered $700.
29 Received $650 from customers for future service.
Adjustment data:
1. Supplies on hand $1,800.
2. Accrued salaries payable $400.
3. Depreciation $200 per month.
4. Unearned service revenue of $350 earned.
Instructions

(a) Enter the September 1 balances in the ledger T accounts.

(b) Journalize the September transactions.

(c) Post to the ledger T accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries Expense, and Rent Expense.

(d) Prepare a trial balance at September 30.

(e) Journalize and post adjusting entries.

(f) Prepare an adjusted trial balance.
(g) Prepare an income statement and a retained earnings statement for September and a balance sheet at September 30.

Transcribed Image Text:

Cash Accounts Receivable Supplies Store Equipment Debits Credits $ 4,880 Accumulated Depreciation $ 1,500 3,520 Accounts Payable 3,400 1,000 Unearned Service Revenue 400 15,000 Salaries Payable 500 Common Stock 10,000 $24,400 Retained Earnings 8,600 $24,400