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In: Accounting

need to check my answers On November 1, 2017, the account balances of Hamm Equipment Repair...

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.

Solutions

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