Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On November 1, 2022, the following were the account balances of Wildhorse Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $3,210 3,090 1,540 10,420 Accumulated
On November 1, 2022, the following were the account balances of Wildhorse Equipment Repair. Cash Accounts Receivable Supplies Equipment Debit $3,210 3,090 1,540 10,420 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Credit $ 500 2,720 400 800 10,420 3,420 $18,260 $18,260 Nov. 8 10 12 15 During November, the following summary transactions were completed. Paid $1,220 for salaries due employees, of which $420 is for November and $800 is for October salaries payable. Received $1,820 cash from customers in payment of account Received $3,710 cash for services performed in November Purchased store equipment on account $3,890. Purchased supplies on account $1,370. Paid creditors $2,580 of accounts payable due Paid November rent $460. Paid salaries $1,110. Performed services on account worth $980 and billed customers. Received $ 760 from customers for services to be performed in the future 17 20 22 25 27 29 Journalize the November transactions. (If no entry is required, select "No Entry for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Nov 8 Salaries and Wapes Expense Salaries and Wapes Puyable BOO Date 420 1220 Nov 10 1620 Accounts Receivable Nov. 12 Canh 5710 Service Revenue 710 Now. 15 Emer 3890 Accounts Payable 1890 Nov. 17 Supplier 1370 Accounts Payable 1370 Nov. 20 Accounts Payable 2530 50 Nov 22 Rent Expense 400 Nov. 25 Salaries and Wases Expense 1110 Cash 1110 Nov. 27 Accounts Receivable 980 Service Revenue 930 Nov 292 Cash 760 Unearned Service Revenue 760 Post above journal entries to the ledger accounts. (Post entries in the order of journal entries passed in the previous question. If the balance is zero (O), select date from drop down and enter for the amounts.) Cash 3,210 11/1 Bal. Accounts Receivable 3,090 11/1 Bal. Supplies 1.540 11/1 Bal. Equipment 11/1 Bal. 10,420 500 Accumulated Depreciation - Equipment 11/1 Bal. Accounts Payable 11/1 Bal. 2.720 Unearned Service Revenue 11/1 Bal 400 Salaries and Wages Payable 11/1 Bal. 800 Common Stock 11/1 Bal. 10,420 Retained Earnings 11/1 Bal. 3,420 Service Revenue Salaries and Wages Expense Salaries and Wages Expense 4 4 . Rent Expense
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started