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On November 1, 2015, the account balances of Schilling Equipment Repair were as follows. No. Debits No. Credits 101 Cash $ 2,404 154 Accumulated DepreciationEquipment
On November 1, 2015, the account balances of Schilling Equipment Repair were as follows.
No. | Debits | No. | Credits | |||||||
101 | Cash | $ 2,404 | 154 | Accumulated DepreciationEquipment | $ 2,000 | |||||
112 | Accounts Receivable | 4,261 | 201 | Accounts Payable | 2,607 | |||||
126 | Supplies | 1,753 | 209 | Unearned Service Revenue | 1,182 | |||||
153 | Equipment | 12,000 | 212 | Salaries and Wages Payable | 730 | |||||
311 | Common Stock | 9,949 | ||||||||
320 | Retained Earnings | 3,950 | ||||||||
$20,418 | $20,418 |
During November, the following summary transactions were completed.
Nov. 8 | Paid $1,660 for salaries due employees, of which $730 is for October salaries. | |
10 | Received $3,417 cash from customers on account. | |
12 | Received $3,127 cash for services performed in November. | |
15 | Purchased equipment on account $2,032. | |
17 | Purchased supplies on account $707. | |
20 | Paid creditors on account $2,735. | |
22 | Paid November rent $417. | |
25 | Paid salaries $1,660. | |
27 | Performed services on account and billed customers for services provided $1,896. | |
29 | Received $630 from customers for future service. |
Enter the November 1 balances in the ledger accounts Cash No. 101 Date Explanation Nov. 1 Accounts Receivable Ref Debit Credit Balance Balance No. 112 Ref Date Explanation Nov. 1 Supplies Debit Credit Balance Balance No. 126 Date Explanation Nov. 1 Equipment Ref Debit Credit Balance Balance No. 153 Ref Debit Credit Balance Date Explanation Nov. 1 Accumulated Depreciation-Equipment Balance No. 154 Debit Date Explanation Nov. 1 Accounts Payable Ref Credit Balance Balance No. 201 Date Explanation Ref Debit Credit Balance Nov. 1 Balance Unearned Service Revenue No. 209 Date Explanation Ref Debit Credit Balance
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