, 20D, he accbunt balances of Schilling Equipment Repair were as follows. U oooe
ID: 2400083 • Letter: #
Question
, 20D, he accbunt balances of Schilling Equipment Repair were as follows. U oooenibe No. 101 Cash No. $ 2,440 154 Accumulated Depreciation- Equipment 112 Accounts 126 Supplies 153 Equipment 4,240 201 Accounts Payable 1,800 11,580 $ 1,930 2,620 1,210 Receivable 209 Unearned Service Revenue 212 Salaries and Wages Payable 311 Common Stock 320 Retained Earnings 9,616 3,950 $20,060 $20,060 During November, the following summary transactions were completed. Nov. 8 Paid $1,730 for salaries due employees, of which $734 is for October salaries. 10 Received $3,370 cash from customers on account. 12 Received $3,050 cash for services performed in November. 15 Purchased equipment on account $1,970. 17 Purchased supplies on account $720. 20 Paid creditors on account $2,700. 22 Paid November rent $450. 25 Paid salaries $1,730. 27 Performed services on account and billed customers $1,900 for these services 29 Received $600 from customers for future service.Explanation / Answer
Cash Date Explanation Dr Cr Balance 1-Nov Balance $2,440 8-Nov 1730 $710 10-Nov 3380 $4,090 (in question it is 3370 ) 12-Nov 3050 $7,140 20-Nov 2700 $4,440 22-Nov 450 $3,990 25-Nov 1730 $2,260 Accounts Receivable Date Explanation Dr Cr Balance 1-Nov Balance 4240 10-Nov 3380 860 27-Nov 1900 2760 Unearned Service Revenue Date Explanation Dr Cr Balance 1-Nov 1210 29-Nov 600 610 equipment Date Explanation Dr Cr Balance 1-Nov 11580 15-Nov 1970 13550 Accumulated Depreciation-Equipment Date Explanation Dr Cr Balance Salaries & wages expenses Date Explanation Dr Cr Balance 8-Nov 986 986 25-Nov 1730 2716 Salaries & wages payba le Date Explanation Dr Cr Balance 1-Nov 734 8-Nov 734 0 Service Revenue Date Explanation Dr Cr Balance 12-Nov 3050 3050 27-Nov 1900 4950 29-Nov 600 5550 Accounts Payable Date Explanation Dr Cr Balance 1-Nov 2620 2620 15-Nov 1970 4590 17-Nov 720 5310 20-Nov 2700 2610 Supplies Date Explanation Dr Cr Balance 1-Nov 1800 17-Nov 720 Rent expenses Date Explanation Dr Cr Balance 22-Nov 450 450
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