INTRO TO FINANCIAL ACCoUN. - College LEVEL 1

a)

b) PREPARE TRANSACTION ENTRIES

During November, the following transactions were completed:

Nov. 9		Paid $2,042 to employees for salaries due, of which $1,000 for October salaries payable and $1,042 is for November.
12		Issued common shares for $4,214.
13		Received $12,335 cash from customers in payment of accounts.
19		Received $11,400 cash for services performed in November.
20		Purchased supplies on account, $600.
21		Paid creditors $4,389 of accounts payable due.
23		Paid November rent, $600.
23		Paid salaries, $2,558.
27		Performed services on account, $3,755.
28		Paid a cash dividend, $500.
		30 Received $1,084 from customers for services to be provided in the future .

Problem 4-8A On October 31, 2015, the Alou Equipment Repair Corp.'s post-closing trial balance was as follows. The company adjusts its accounts monthly Debit Credit $16,191 15,800 4,000 18,000 Cash Accounts receivable Supplies Equipment Accumulated depreciation-equipment Accounts payable Salaries payable Unearned revenue Common shares Retained earnings $3,600 4,389 1,000 1,016 10,786 33,200 $53,991 $53,991 Prepare T accounts, and enter the opening balances at November 1