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Yes, all parts need to be answered using the worksheet as previously given answers are incomplete and in an incorrect format. Please use the worksheet
Yes, all parts need to be answered using the worksheet as previously given answers are incomplete and in an incorrect format. Please use the worksheet format given at the end. Your earliest response will be really helpful.
Joe Dadli Equipment Repair has an October year end at which time the company adjusts and closes its During the month of October, the following transactions were completed. 1. Received $600 cash from a customer for future services. 2. Billed a customer $1,500 for services provided. 3. Paid employee salary of $1,500. 4. Paid October telephone bill of $500. 5. Borrowed $20,000 from the bank on Oct 1 st by signing a three year 10% note payable 6. Paid October's rent of $600. 7. Received $2,500 from customer on account. 8. Received $6,000 cash for services performed in October. 9. Purchase supplies for $1,500. 10. Paid creditors $2,500 on account. 11. Joe wrote a cheque for cash to himself for $2,000. The following adjustment data was available: 12. Supplies on hand at October 31st$2,000 13. Accrued salaries for October total $900 14. The equipment has an expected useful life of 5 years. 15. Unearned revenue as of October 31st is $3,000 16. Interest is payable on the first of each month. 17. The balance in the prepaid insurance account was $1,000. Required 18. Prepare ledgers accounts and enter the September balances in each account. (open new ledgers as appropriate) 19. Journalize the October transactions. 20. Post the October transactions to the appropriate ledger accounts 21. Prepare a trial balance as of October 31st,20XX and enter it into a 10 column Worksheet. (see format on next page) 22. Journalize the adjusting entries and enter them into adjustment columns in the worksheet. 23. Show the adjusted trial Balance in the worksheet. 24. Show the income statement accounts and the balance sheet account in the worksheet. 25. Prepare and post closing entries. 26. Prepare a post-closing trial balance for October 31st20XX. 27. Prepare (in good form) the income statement, statement of owner's equity and a classified balance sheetStep by Step Solution
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