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On November 1, 2022, the account balances of Blossom Equipment Repair were as follows. No. Debit No. Credit 101 Cash $ 2,350 154 Accumulated DepreciationEquipment
On November 1, 2022, the account balances of Blossom Equipment Repair were as follows.
No. | Debit | No. | Credit | |||||||
---|---|---|---|---|---|---|---|---|---|---|
101 | Cash | $ 2,350 | 154 | Accumulated DepreciationEquipment | $ 1,800 | |||||
112 | Accounts Receivable | 4,200 | 201 | Accounts Payable | 2,550 | |||||
126 | Supplies | 1,750 | 209 | Unearned Service Revenue | 1,150 | |||||
153 | Equipment | 10,800 | 212 | Salaries and Wages Payable | 650 | |||||
301 | Owners Capital | 12,950 | ||||||||
$19,100 | $19,100 |
During November, the following summary transactions were completed.
Nov. 8 | Paid $1,650 for salaries due employees, of which $650 is for October salaries. | |
10 | Received $3,370 cash from customers on account. | |
12 | Received $3,050 cash for services performed in November. | |
15 | Purchased equipment on account $1,950. | |
17 | Purchased supplies on account $650. | |
20 | Paid creditors on account $2,650. | |
22 | Paid November rent $350. | |
25 | Paid salaries $1,650. | |
27 | Performed services on account and billed customers $1,850 for these services. | |
29 | Received $550 from customers for future service. |
Enter the November 1 balances in the ledger accounts. Accumulated Depreciation-Equipment No. 154 DateNov.1ExplanationBalanceRefDebit the order presented in the problem.) Salaries and Wages Expense, and No. 729 Rent Expense. Accounts Receivable Accumulated Depreciation-Equipment DateExplanationNov.1BalanceRef C education.wiley.com/was/ui/v2/question-player/index.html?renderMode=readOnly\&questionld=838f6c29-4d5a-4157-bffo-532566a46093\&questionlndex=08launchld=2dd5cd9b Service Revenue Adjustment data consist of: 1. Supplies on hand $1,350. 2. Accrued salaries payable $325. 3. Depreciation for the month is $180. 4. Services related to unearned service revenue of $1,200 were performed. presented in the problem.) Prepare a trial balance at November 30 . Post the adjusting entries. Accounts Receivable Accounts Payable Owner's Capital Depreciation Expense Salaries and Wages Expense Prepare an adjusted trial balance. Prepare an income statement for November. Prepare an owner's equity statement for November. Prepare a balance sheet at November 30. (List Assets in order of liquidity.)
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