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P3-5B On November 1,2008, the account balances of Rondeli Equipment Repair were as follows.

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P3-5B On November 1,2008, the account balances of Rondeli Equipment Repair were as follows.

:::TABLE:::

During November the following summary transactions were completed.
Nov.

8 Paid $1,100 for salaries due employees, of which $600 is for November.

10 Received $1,200 cash from customers on account.

12 Received $1,400 cash for services performed in November.

15 Purchased store equipment on account $3,000.

17 Purchased supplies on account $500.

20 Paid creditors on account $2,500.

22 Paid November rent $300.

25 Paid salaries $1,300.

27 Performed services on account and billed customers for services provided $400.

29 Received $550 from customers for future service.

Adjustment data consist of:
1. Supplies on hand $500.
2. Accrued salaries payable $500.
3. Depreciation for the month is $100.
4. Unearned service revenue of $1,150 is earned.

Instructions
(a) Enter the November 1 balances in the ledger accounts.

(b) Journalize the November transactions.

(c) Post to the ledger accounts. Use J1 for the posting reference. Use the following accounts: No.
407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense, No. 726 Salaries 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 a retained earnings statement for November and a balance sheet at November 30.

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