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Flint Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017, a tabular summary

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Flint Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017, a tabular summary includes the following information. Note that Flint began the month with $3,460 in Retained Earnings. This balance represents the results of its first two months of business. Assets Liabilities + Stockholde . Depr Equip - Accts. Cash + Rec. + Supplies + Equip 11/1 Bal. 3,250 + 3,080 + 1.580 + 10,460 Accts. Pay. + 2.760+ Unearn. Serv. Rev. 400+ Sal./Wages + Pay 790 + Com Stock 500 - 10,460 + During November, the following summary transactions were completed. Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1.220 for salaries due employees, of which $430 is for November and $790 is for October salaries payable. Received $1,840 cash from customers in payment of account Received $3,800 cash for services performed in November, Purchased store equipment on account $3,670 Purchased supplies on account $1,330, Paid creditors $2,550 of accounts payable due. Paid November rent $480. Paid salaries $1,040 Performed services on account worth $980 and billed customers Received $830 from customers for services to be performed in the future, Flint Equipment Repair began operating in September 2017. It prepares financial statements at the end of each month. On November 1, 2017 a tabular summary includes the following information. Note that Flint began the month with $3,460 in Retained Earnings. This balance represents the results of its first two months of business. Assets Stockholders' Equity Acc. Depr. Equip 500 Liabilities Unearn. Serv. Rev. 400 + sh + Accts. Rec. 3,080 + + Accts. Pay 2,760 + Supplies + 1,580+ Equip. 10,460 Sal./Wages + Com Pay Stock 790 + 10,460+ Retained Earnings 3.460 + 50+ During November, the following summary transactions were completed. Nov. 8 Paid $1.220 for salaries due employees, of which $430 is for November and $790 is for October salaries payable. 10 Received $1,840 cash from customers in payment of account. 12 Received $3,800 cash for services performed in November, 15 Purchased store equipment on account $3,670. 17 Purchased supplies on account $1,330. 20 Paid creditors $2,550 of accounts payable due 22 Paid November rent $480. 25 Paid salaries $1.040. 27 Performed services on account worth $980 and billed customers. 29 Received SB30 from customers tor services to be performed in the future. Adjustment data: 1. 2. Supplies on hand are valued at $1,220. Accrued salaries payable are $520. Depreciation for the month is $280. Services were performed to satisfy $550 of unearned service revenue. 3. 4. Flint Equipment Repair Balance Sheet Assets $ $ $ Liabilities and Stockholders' Equity $

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