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Acc. - Assignment - 1 - Tonushree
Acc. - Assignment - 1 - Tonushree
$ 20,450 $ 19,004
Paid $ 1,700
Nov.08
for salaries due employees, of which $ 001 is for October salaries
Nov.10Received $ 3,620 cash from customers on account.
Nov.12
Received $ 3,100 cash for services performed in November
Nov.15 Puchased equipment on account $2,000
Nov.17 Purchased supplies on account $700
Nov.20 Paid creditors on account $ 2,700
Nov.22 Paid November rent $ 400
Nov.25 Paid salaries $ 1,700
Performed
Nov.27
services on account and billed customers for these services $ 2,200
Nov.29Received $ 600 from customers for future service.
Adjustment data consist of:
1) Supplies on hand $ 1,400
2) Accrued salaries payable $ 350
3) Depreciation for the month is $ 200
4) Services related to unearned service revenue of $ 1,220 were performed
Instructions:
a. Enter the November 1 balances 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, No.
726 Salariesand Wages Expense, and No. 729 Rent Expense.
Adjusting Entries:
Date Particulars Dr. Cr.
Nov. 30 Supplies Expense $ 605
supplies $ 605
112-Accounts Receivable
Date Explanation Ref. Dr. Cr. Balance
Nov.01 Opening Balance $ 4,001 - $ 4,001
Nov.-10 Cash J1 - $ 3,620 $ 381
Nov.-27 Service Revenue J1 $ 2,200 - $ 2,581
126-Supplies
Date Explanation Ref. Dr. Cr. Balance
Nov.01 Opening Balance $ 1,001 - $ 1,001
Nov.-17 Accounts Payable J1 $ 700 - $ 1,701
Nov. 30 Supplies Expense (Adjusting Entry) - $ 605 $ 1,096
153-Equipment
Date Explanation Ref. Dr. Cr. Balance
Nov.01 Opening Balance $ 12,001 - $ 12,001
Nov.-15 Accounts Payable J1 $ 2,000 - $ 14,001
154-Accumulated Depreciation-Equipment
Date Explanation Ref. Dr. Cr. Balance
Nov. 01 Opening Balance - $ 2,001 $ 2,001
Nov. 30 Depreciation (Adjusting Entry) J1 - $ 200 $ 2,201
201-Accounts Payable
Date Explanation Ref. Dr. Cr. Balance
Nov. 01 Opening Balance - $ 2,001 $ 2,001
Nov. 15 Equipment J1 - $ 2,000 $ 4,001
Nov. 17 Supplies J1 - $ 700 $ 4,701
Nov.-20 Cash J1 $ 2,700 - $ 2,001
407-Service Revenue
Date Explanation Ref. Dr. Cr. Balance
Nov. 12. Cash J1 $ 3,100 $ 3,100
Nov. 27 Accounts Receivable J1 $ 2,200 $ 5,300
Nov. 30 Unearned Service Revenue (Adjusting Entry) - $ 1,220 $ 6,520
729-Rent Expense
Date Explanation Ref. Dr. Cr. Balance
Nov. 22 Cash J1 $ 400 $ 400
631-Supplies Expense
Date Explanation Ref. Dr. Cr. Balance
Nov. 30 Supplies (adjusting entry) J1 $ 605 - $ 605
615-Depreciation Expense
Date Explanation Ref. Dr. Cr. Balance
Nov. 30 Accumulated Depreciation J1 $ 200 - $ 200
(d) & (f)
Hamm Equipment Repair
Trial Balance
Particulars Amount
Particulars Amount
Particulars Amount
Asset: $ 18,298
Cash $ 2,821
Accounts Receivable $ 2,581
Supplies $ 1,096
Equipment- $ 14,001 $ 11,800
Less:Accum. Dep . $ 2,201