On September 1, 2012, the following were the account balances of Worthington Equipment Repair. During September, the

Question:

On September 1, 2012, the following were the account balances of Worthington Equipment Repair. image text in transcribed

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.

Sept. 17 Purchased supplies on account $2,000.
20 Paid creditors $$4,500$ of accounts payable due.
22 Paid September rent $520.
25 Paid salaries $1,200.
27 Performed services on account and billed customers for services provided $2,040.
29 Received $$650$ from customers for services to be provided in the future.
Adjustment data:
1. Supplies on hand $1,100.
2. Accrued salaries payable $400.
3. Depreciation $$200$ per month.
4. Unearned service revenue of $$280$ 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 and Wages 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 classified balance sheet at September 30.

Fantastic news! We've Found the answer you've been seeking!