need to check my answers On November 1, 2017, the account balances of Hamm Equip
ID: 341047 • Letter: N
Question
need to check my answers
On November 1, 2017, the account balances of Hamm Equipment Repair were as follows.
No.
Debits
No.
Credits
During November, the following summary transactions were completed.
___________________________________________________________________
e.)Adjustment data consist of:
Journalize the adjusting entries.
Post the adjusting entries
f.)Prepare an adjusted trial balance.
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 $19,710Explanation / Answer
Journal entries and adjusting entries are as prepared below:
Date Particulars L.F Amount ($) Amount ($) Nov-08 Salaries and wages Payable 710 Salaries and Wages Expense 990 Cash 1,700 (for salaries paid) Nov-10 Cash 3,390 Account Receivable 3390 (For cash received from customers) Nov-12 Cash 3,080 Service Revenue 3080 (for services performed) Nov-15 Equipment 2,020 Account payable 2020 (for equipment purchased) Nov-17 Supplies 740 Account Payable 740 (For supplies purchased) Nov-20 Account Payable 2,750 Cash 2,750 (For paid creditors) Nov-22 Rent Expense 440 Cash 440 (for rent paid) Nov-25 Salaries and wages Expense 1,700 Cash 1700 (for salaries paid) Nov-27 Account Receivable 1,930 Service Revenue 1930 (For services performed) Nov-29 Cash 570 Unearned Service Revenue 570 (For cash received in advance) Adjusting entries Date Particulars L.F Amount ($) Amount ($) 1 Supplies expense 1140 Supplies 1140 (For supplies expensed) 2 salaries and wages expense 355 salaries and wages payable 355 (For expense incurred but not paid) 3 Depreciation expense 187 Accumulated depreciation 187 (For equipment depreciated) 4 Unearned Service Revenue 1,220 Service Revenue 1220 (For services performed)Related Questions
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