Solution-The account balances of schilling equipment repair

The account balances of schilling equipment repair were as

Assignment Help Accounting Basics

Reference no: EM13987493

On November 1, 2015, the account balances of Schilling Equipment Repair were as follows.

No.	Debits		No.	Credits
101	Cash	$ 2,389	154	Accumulated Depreciation -Equipment	$ 2,080
112	Accounts Receivable	4,237	201	Accounts Payable	2,614
126	Supplies	1,824	209	Unearned Service Revenue	1,176
153	Equipment	12,480	212	Salaries and Wages Payable	670
			311	Common Stock	10,440
			320	Retained Earnings	3,950
		$20,930			$20,930

During November, the following summary transactions were completed.

Nov. 8		Paid $1,690 for salaries due employees, of which $670 is for October salaries.
10		Received $3,416 cash from customers on account.
12		Received $3,133 cash for services performed in November.
15		Purchased equipment on account $1,972.
17		Purchased supplies on account $677.
20		Paid creditors on account $2,668.
22		Paid November rent $406.
25		Paid salaries $1,690.
27		Performed services on account and billed customers for services provided $1,857.
29		Received $606 from customers for future service.

Journalize the November transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Reference no: EM13987493

Questions Cloud

Standards of business conduct for starbucks : You will be asked to analyze and to compare and contrast the code of ethics of both Starbuck’s and McDonald’s. Summarize your analysis and findings in a two-page APA formatted paper. The links shown in the textbook are no longer active; however, thes..

Develop a plan for real or hypothetical e-commerce business : Develop a plan for real or hypothetical e-commerce business. The plan must address the concepts in your texts. Include in the plan a brief scenario of the business. There are templates and recommendations in your text for e-commerce plans, but you..

Which physical phenomenon is illustrated by the fact : An observer is located to the right of the prism as shown. Which physical phenomenon is illustrated by the fact that the emerging rays are spread into the component colors of the beam?

Income statement of lilo corporation for the year ended : Income statement of LILO Corporation for the year ended December 31, 2010:

The account balances of schilling equipment repair were as : On November 1, 2015, the account balances of Schilling Equipment Repair were as follows. During November, the following summary transactions were completed. Journalize the November transactions. (Credit account titles are automatically indented when ..

Identify potential gaps in the product line or weaknesses : Identify potential gaps in the product line or weaknesses in positioning. Describe the relevance of the EPS/EBIT chart and why it is significant with respect to strategy implementation.

Two different models of cameras : Cariari Manufacturing produces two different models of cameras. One model has an automatic focus; the other requires the user to focus manually. The two products are produced in batches (an equal number of batches is used for each product).

External financial reporting purposes : Compute the unit product cost that must be used for external financial reporting purposes (cost per pound of electrolyte). How would the other costs be treated for external financial reporting?

Determine supply details by internal vs external candidates : A successful franchise owner of a prestigious sporting goods chain is feeling the effects of technology, with more and more online sales and less and less customers in the shops. Using your HR planning expertise, forecast the demand of labour in the ..

User Account

All Pages

The account balances of schilling equipment repair were as

Reference no: EM13987493

Reference no: EM13987493

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT