Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please make a complete t chart and a balance sheet During November, the following summary transactions were completed. Nov. 8 Paid $10,650 for salaries due

please make a complete t chart and a balance sheet
image text in transcribed
During November, the following summary transactions were completed. Nov. 8 Paid $10,650 for salaries due employees, of which $5,550 is for November and $5,100 is for October. 10 Received $5,700 cash from customers in payment of account. 11 Purchased merchandise on account from Dimas Discount Supply for $24,000, terms 2/10,n/30. 12. Sold merchandise on account for $16,500, terms 2/10,n/30. The cost of the merchandise sold was $12,000. 15 Received credit from Dimas Discount Supply for merchandise returned $900. 19 Received collections in full, less discounts, from customers billed on sales of $16,500 on November 12. 20 Paid Dimas Discount Supply in full, less discount. 22 Received $6,900 cash for services performed in November 25 Purchased equipment on account $15,000. 27. Purchased supplies on account $5,100. 28 Paid creditors $9.000 of accounts payable due. 29 Paid November rent $1,125. 29 Paid salaries $3,900 29 Performed services on account and bllled customers $2,100 for those services. 29 Received $2,025 trom customers for services to be performed in the future

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing

Authors: Alan Millichamp, John Taylor

12th Edition

1473778999, 9781473778993

More Books

Students also viewed these Accounting questions