Reference no: EM13973175

On November 1, 2014. the following were the account balances of Ratio Equipment Repair. During November the following summary transactions were completed Paid $1.220 for salaries due employees, of which $600 is for November ; $620 is for October salaries payable. Received $1,800 cash from customers in payment of account. Received $3.700 cash for services performed in November. Purchased store equipment on account $3.600. Purchased supplies on account $1.300. Paid creditors $2.500 of accounts payable due. Paid November rent $480. Paid salaries $1.000. Performed services on account worth $900 and billed customers. Received $750 from customers for services to be provided in the future. Supplies on hand are valued at $1.100. I Accrued salaries payable are $480 t Depreciation for the month is $250. Services were performed to satisfy $500 of unearned serv ice revenue. Enter the November 1 balances in the ledger accounts. (Use T-accounts.) Journalize the November transactions. Post to the ledger accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. Prepare a trial balance at November 30. Journalize and post adjusting entries. Prepare an adjusted trial balance. Prepare an income statement and a retained earnings