Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on november 1,2019, the account balances of skyson

On November 1,2019, the account balances of Skysong, Inc. were as follows. Debits Credits No....

70.2K

Verified Solution

Question

Accounting

imageimageimage

On November 1,2019, the account balances of Skysong, Inc. were as follows. Debits Credits No. 101 Caslh 112 Accounts Receivable 4,210 201 Accounts Payable 126 Supplies 153 Equipment No. $ 2,400 154 Accumulated Depreciation-Equipment $ 1,920 2,640 1,180 734 9,456 3,950 19,880 1,750 11,520 209 212 311 Common Stock 320 Retained Earnings Unearned Service Revenue Salaries and Wages Payable $ 19,880 During November, the following summary transactions were completed Nov. 8 Paid $ 1,720 for salaries due employees, of which $ 734 is for October salaries 10 Received $ 3,460 cash from customers on account. 12 Received $ 3,140 cash for services performed in November 15 Purchased equipment on account $ 1,970 17 Purchased supplies on account $720. 20 Paid creditors on account $ 2,740 22 Paid November rent $ 440 25 Paid salaries $ 1,720. 27 Performed services on account and billed customers $1,950 for these services. 29 Received $ 570 from customers for future service

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

According to ISAB, Debt investments are accounted either by theamortize cost or by fair...

Advance Math
1.2K views

By computing both sides, show that for an m × n matrix A, vectors u and...

Biology
1.2K views

Which Roman emperor converted to Christianity in 313 CE, making it legal to practice within...

Basic Math
1.2K views

Solve for X S 7 7 4 5X 5 6 4

Basic Math
1.2K views

To test the effect of a new exercise routine on muscle growth, a researcher sets...

Accounting
1.2K views

Mastery Problem: Net Present Value and Internal Rate of Return Part One Companies use capital...

Accounting
1.2K views

1. The statement of cash flows: is a required financial statement are not required by...

Accounting
1.2K views

What is the right sequence to appropriately sequence the process for creating a...

Accounting
1.2K views

Match each of the following costs associated with long-lived assets to the account (a-e) to...

Accounting
1.2K views

Complete the columns to show the effects (increase, decrease or no changes) together with

Accounting
1.2K views

Determine any capital gain, or capital loss generated by each event described below. Use them...

Accounting
1.2K views

what is the products cm per unit