Question
On November 1, 2022, the following were the account balances of Flounder Equipment Repair. Debit Credit Cash $ 3,420 Accumulated DepreciationEquipment $ 530 Accounts Receivable
On November 1, 2022, the following were the account balances of Flounder Equipment Repair.
Debit | Credit | |||||
---|---|---|---|---|---|---|
Cash | $ 3,420 | Accumulated DepreciationEquipment | $ 530 | |||
Accounts Receivable | 3,100 | Accounts Payable | 2,930 | |||
Supplies | 1,750 | Unearned Service Revenue | 400 | |||
Equipment | 10,600 | Salaries and Wages Payable | 810 | |||
Common Stock | 10,630 | |||||
Retained Earnings | 3,570 | |||||
$18,870 | $18,870 |
During November, the following summary transactions were completed.
Nov. 8 | Paid $1,220 for salaries due employees, of which $410 is for November and $810 is for October salaries payable. | |
10 | Received $1,910 cash from customers in payment of account. | |
12 | Received $3,790 cash for services performed in November. | |
15 | Purchased store equipment on account $3,970. | |
17 | Purchased supplies on account $1,350. | |
20 | Paid creditors $2,560 of accounts payable due. | |
22 | Paid November rent $540. | |
25 | Paid salaries $1,030. | |
27 | Performed services on account worth $990 and billed customers. | |
29 | Received $780 from customers for services to be performed in the future. |
(a)
Enter the November 1 balances in the ledger accounts.
Cash | |||
---|---|---|---|
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Accounts Receivable | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Supplies | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Equipment | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Accumulated DepreciationEquipment | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Accounts Payable | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Unearned Service Revenue | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Salaries and Wages Payable | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Common Stock | |||
choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a debit balance | choose the beginning date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal. | enter a credit balance |
Retained Earnings |
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