In: Accounting
need to check my answers
On November 1, 2017, the account balances of Hamm Equipment Repair were as follows.
No. |
Debits |
No. |
Credits |
|||||||
101 | Cash | $ 2,390 | 154 | Accumulated Depreciation—Equipment | $ 1,870 | |||||
112 | Accounts Receivable | 4,300 | 201 | Accounts Payable | 2,560 | |||||
126 | Supplies | 1,800 | 209 | Unearned Service Revenue | 1,170 | |||||
153 | Equipment | 11,220 | 212 | Salaries and Wages Payable | 710 | |||||
301 | Owner’s Capital | 13,400 | ||||||||
$19,710 | $19,710 |
During November, the following summary transactions were
completed.
Nov. 8 | Paid $1,700 for salaries due employees, of which $710 is for October salaries. | |
10 | Received $3,390 cash from customers on account. | |
12 | Received $3,080 cash for services performed in November. | |
15 | Purchased equipment on account $2,020. | |
17 | Purchased supplies on account $740. | |
20 | Paid creditors on account $2,750. | |
22 | Paid November rent $440. | |
25 | Paid salaries $1,700. | |
27 | Performed services on account and billed customers for these services $1,930. | |
29 | Received $570 from customers for future service. |
___________________________________________________________________
A.)Enter the November 1 balances in the ledger accounts.
B.)Journalize the November transactions.
c.)Post to the ledger accounts.
d.)Prepare a trial balance at November 30.
e.)Adjustment data consist of:
1. | Supplies on hand $1,400. |
2. | Accrued salaries payable $355. |
3. | Depreciation for the month is $187. |
4. | Services related to unearned service revenue of $1,220 were performed. |
Journalize the adjusting entries.
Post the adjusting entries
f.)Prepare an adjusted trial balance.