q TSM-Myth . Twitch stadent/mainfrun US Kimmel, Accounting, de SUR Assignment Gr

Question

q TSM-Myth . Twitch stadent/mainfrun US Kimmel, Accounting, de SUR Assignment Gradebook ORION Downloadable eTextbook Problem 4-A (Part Levsi bubinliasion) On November 1, 2017, the following were the account balances of Soho Equipment Repair Debit Credit Cash Accounts Receivable3,060 Accounts Payable ss,Ju Accumulated Depreciation-Equipment $500 2,840 400 770 10,540 ,540 $18,590 1,660 10,540 Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings $18,590 During November, the following summary transactions were Nov. 8 Paid $1,220 for salaries due employees, of which $450 is for November and $770 is for October salaries payable 10 Receved $1,860 cash from customers in payment of account. 12 Received $3,750 cash for services performed in November 15 Purchased store equipment on account $3,960 17 Purchased supplies on account $1,330 20 Paid creditors $2,600 of accounts payable due. 22 Paid November rent $480. 25 Paid salaries s1,150 27 Performed services on account worth $910 and billed customers 29 Received $760 from customers for services to be performed in the future AI Rights Reserved. A Division oelatnwle.ASon.inc. earch

Explanation / Answer

Journal Entries: Date Accounts Titles Debit $ Credit $ 8-Nov AP 1220 Cash 1220 10-Nov Cash 1860 AR 1860 12-Nov Cash 3750 Service revenue 3750 15-Nov Equip 3960 AP 3960 17-Nov Supplies 1330 AP 1330 20-Nov AP 2600 Cash 2600 22-Nov Rent expense 480 Cash 480 25-Nov Salaries expenses 1150 Cash 1150 27-Nov AR 910 Service Revenue 910 29-Nov Cash 760 Unearned Revenue 760 Trial Balance Accounts titles Calculation Debit $ Credit $ Cash 3330-1220+1860+3750-2600-480-1150+760 4250 AR 3060-1860+910 2110 Supplies 1660+1330 2990 Equipment 10540+3960 14500 Acc Dep - Equip 500 500 AP 2840-1220+3960+1330-2600 4310 Unearned service revenue 400+760 1160 Salaries and wages payable 770 770 Common Stock 10540 10540 Retained Earnings 3540 3540 Service revenue 3750+910 4660 Rent expense 480 480 Salaries and wages expense 1150 1150 TOTAL 25480 25480

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