On September 1, 2007, the following were the account balances of Tech Know Equipment Repair.

Debits Credits Cash $ 4,880 Accumulated Depreciation $ 1,600 Accounts Receivable 3,820 Accounts Payable 3,100 Supplies 800 Unearned Service Revenue 400 Store Equipment 15,000 Salaries Payable 700

$24,500 Common Stock 10,000 Retained Earnings 8,700

$24,500 During September the following summary transactions were completed.

Sept. 8 Paid $1,100 for salaries due employees, of which $400 is for September and $700 is for August salaries payable.

10 Received $1,500 cash from customers in payment of account. 12. Received $3,400 cash for services performed in September.

15 Purchased store equipment on account $3,000.

Problems: Set B 209 Sept. 17 Purchased supplies on account $1,500.

20 Paid creditors $4,500 of accounts payable due.

22 Paid September rent $400.

25 Paid salaries $1,200.

27 Performed services on account and billed customers for services provided

$850.

29 Received $650 from customers for services to be provided in the future.

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.

(f) Tot. trial balance $29,300

(g) Prepare an income statement and a retained earnings statement for September and __(g) Tot. assets $24,400 a classified balance sheet at September 30.