Journalize the november transactions

Reference no: EM131226548

Question -

On November 1, 2017, the account balances of Hamm Equipment Repair were as follows.

No.	Debit	No.	Credit
101 Cash	$2,400	154 Accumulated Depreciation-Equipment	$2,000
112 Accounts Receivable	4,200	Account Payable	2,600
126 Supplies	1,800	Unearned Service Revenue	1,200
153 Equipment	12,000	Salaries and Wages Payable	700
		Owner's Capital	13,950
	$20,450		$20,450

During November, the following summary transactions were completed.

Nov. 8 - Paid $1,700 for saltines due employees of which $700 is for October salaries.

10 - Received $3.620 cash from customers on account.

12 - Received $3,100 cash for services performed in November.

15 - Purchased equipment on account $2,000.

17 - Purchased supplies on account $700.

20 - Paid creditors on account $2,700.

22 - Paid November rent $400.

25 - Paid salaries $1,700.

27 - Performed services on account and billed customers for these senates $2,200.

29 - Received $600 from customers for future service

Adjustment data consist of:

1. Supplies on hand $1,400

2. Accrued salaries pa) able $350

3. Depreciation for the month is $200.

4. Services related to unearned service revenue of $1,220 were performed.

Instruction -

(a) Enter the November 1 balance in the ledger accounts.

(b) Journalize the November transactions.

(c) Post to the ledger accounts. Use J1 for the posting reference. Use the following additional; accounts: No. 407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense.

Reference no: EM131226548

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