On November 1, 2018, the following were the account balances of Mountain Equipment Repair Limited....
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Accounting
On November 1, 2018, the following were the account balances of Mountain Equipment Repair Limited. Mountains year-end is October 31 and it records adjusting entries monthly.
Enter the November 1 balances in the ledger accounts.
Journalize the November transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.)
Journalize and post adjusting entries. (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.)
Post adjusting journal entries. (Post entries in the order of journal entries presented in the previous part.)
Prepare an adjusted trial balance. (List Current assets in order of liquidity.)
MOUNTAIN E?UIPMENT REPAIR LIMITED Post-Closing Trial Balance November 1, 2018 Debit Credit Cash Accounts receivable Supplies Equipment Accumulated depreciation- Equipment Accounts payablee Salaries payable Unearned revenue Common shares Retained earnings $2,790 2,970 1,120 9,600 $5,760 2,330 610 400 1,000 6,380 $16,480 $16,480
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