On November 1, 2017, the account balances of Hamm Equipment Repair were as follo
ID: 2543394 • Letter: O
Question
On November 1, 2017, the account balances of Hamm Equipment Repair were as follows.
No.
Debits
No.
Credits
$19800
During November, the following summary transactions were completed.
Enter the November 1 balances in the ledger accounts.
Cash
No. 101
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Accounts Receivable
No. 112
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Supplies
No. 126
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Equipment
No. 153
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Accumulated Depreciation—Equipment
No. 154
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Accounts Payable
No. 201
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Unearned Service Revenue
No. 209
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Salaries and Wages Payable
No. 212
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
Owner’s Capital
No. 301
Date
Explanation
Ref
Debit
Credit
Balance
Nov. 1
Balance
No.
Debits
No.
Credits
101 Cash $ 2,430 154 Accumulated Depreciation—Equipment $ 1,880 112 Accounts Receivable 4,270 201 Accounts Payable 2,610 126 Supplies 1,820 209 Unearned Service Revenue 1,230 153 Equipment 11,280 212 Salaries and Wages Payable 662 $19,800 301 Owner’s Capital 13,418$19800
During November, the following summary transactions were completed.
Nov. 8 Paid $1,720 for salaries due employees, of which $662 is for October salaries. 10 Received $3,460 cash from customers on account. 12 Received $3,120 cash for services performed in November. 15 Purchased equipment on account $2,050. 17 Purchased supplies on account $750. 20 Paid creditors on account $2,680. 22 Paid November rent $400. 25 Paid salaries $1,720. 27 Performed services on account and billed customers for these services $1,870. 29 Received $630 from customers for future service.
Explanation / Answer
Cash Date Explanation Debit Credit Balance 1-Nov Balance 2,430 Accounts receivable Date Explanation Debit Credit Balance 1-Nov Balance 4,270 Supplies Date Explanation Debit Credit Balance 1-Nov Balance 1,820 Equipment Date Explanation Debit Credit Balance 1-Nov Balance 11,280 Accumulated depreciation-Equipment Date Explanation Debit Credit Balance 1-Nov Balance 1,880 Accounts payable Date Explanation Debit Credit Balance 1-Nov Balance 2,610 Unearned service rvenue Date Explanation Debit Credit Balance 1-Nov Balance 1,230 Salaries and wages payable Date Explanation Debit Credit Balance 1-Nov Balance 662 Owner's Capital Date Explanation Debit Credit Balance 1-Nov Balance 13,418
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