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how to do the trial balance On November 1, 2020, the account balances of Khaled Equipment Repair were as follows: During November, the following summary
how to do the trial balance
On November 1, 2020, the account balances of Khaled Equipment Repair were as follows: During November, the following summary transactions were completed. Adiustment data consist of: 1. Supplies on hand 1,400. 2. Accrued salaries payable 350. 3. Depreciation for the month is 200. 4. Services related to unearned service revenue of 1,220 were performed. Instructions i. Journalize the November transactions. ii. Prepare a trial balance on November 30 . iii. Post to the ledger accounts (T accounts). iv. Journalize and post adjusting entries. The following are the additional accounts: Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. v. Prepare an adjusted trial balance. vi. Prepare an Income Statement and a Retained Earnings Statement for November and a Statement of Financial Position at November 30 Step by Step Solution
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