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Prepare the adjusting entries at December 31, 2020. P3.5A (LO 2, 3, 4) Financial Statement on November 1, 2020, the account balances of Hamm Equipment

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Prepare the adjusting entries at December 31, 2020. P3.5A (LO 2, 3, 4) Financial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2.400 4.250 1.800 12.000 No. 154 201 209 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Credit $ 2,000 2.600 1.200 700 13.950 $20,450 212 301 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid S1,700 for salaries due employees, of which $700 is for October salaries. 10 Received $3.620 cash from customers on account. 12 Received $3.100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 Purchased supplies on account $700. 20 Paid creditors on account $2.700. 22 Paid November rent $400. 25 Paid salaries $1.700. 27 Performed services on account and billed customers for these services $2.200. 29 Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Instructions a. Enter the November 1 balances in the ledger accounts. b. Journalize the November transactions. e. Post to the ledger accounts. Use Jl for the posting reference. Use the following additional account No. 407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense, No. 726 Salaria and Wages Expense, and No. 729 Rent Expense. d. Prepare a trial balance at November 30. e. Journalize and post adjusting entries. f. Prepare an adjusted trial balance. g. Prepare an income statement and an gwner's comity Prepare the adjusting entries at December 31, 2020. P3.5A (LO 2, 3, 4) Financial Statement on November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 112 126 153 Cash Accounts Receivable Supplies Equipment Debit $ 2.400 4.250 1.800 12.000 No. 154 201 209 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Credit $ 2,000 2.600 1.200 700 13.950 $20,450 212 301 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid S1,700 for salaries due employees, of which $700 is for October salaries. 10 Received $3.620 cash from customers on account. 12 Received $3.100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 Purchased supplies on account $700. 20 Paid creditors on account $2.700. 22 Paid November rent $400. 25 Paid salaries $1.700. 27 Performed services on account and billed customers for these services $2.200. 29 Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Instructions a. Enter the November 1 balances in the ledger accounts. b. Journalize the November transactions. e. Post to the ledger accounts. Use Jl for the posting reference. Use the following additional account No. 407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense, No. 726 Salaria and Wages Expense, and No. 729 Rent Expense. d. Prepare a trial balance at November 30. e. Journalize and post adjusting entries. f. Prepare an adjusted trial balance. g. Prepare an income statement and an gwner's comity

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