Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. problem 3-05a a-g (part level submission) on novem

Problem 3-05A a-g (Part Level Submission) On November 1, 2020, the account balances of Hamm...

60.1K

Verified Solution

Question

Accounting

Problem 3-05A a-g (Part Level Submission)

On November 1, 2020, the account balances of Hamm Equipment Repair were as follows.

No.

Debits

No.

Credits
101 Cash $ 2,400 154 Accumulated DepreciationEquipment $ 2,000
112 Accounts Receivable 4,250 201 Accounts Payable 2,600
126 Supplies 1,800 209 Unearned Service Revenue 1,200
153 Equipment 12,000 212 Salaries and Wages Payable 700
301 Owners Capital 13,950
$20,450 $20,450

During November, the following summary transactions were completed.

Nov. 8 Paid $1,700 for salaries 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 services $2,200.
29 Received $600 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

Basic Math
1.2K views

Determine the area under the standard normal curve that lies between the following values z=0.2 and...

Biology
1.2K views

It can be argued that almost all diseases have, at their root, a cellular basis. This...

Finance
1.2K views

A stock has a beta of 0.5 and an expected return of 9.6 percent. A risk-free...

Statistics
1.2K views

Suppose are running a study poll about the probability of catching the flu this year...

Calculus
1.2K views

1 The brightness of the star MIRA over time is given by the equation y...

Calculus
1.2K views

2 12 pts Solve the inequality Show your work sign analysis 5 7 X 3...

Algebra
1.2K views

7 Simplify the following complex number without changing the polar form and leave your answer...

Accounting
1.2K views

You are working as a subcontract bookkeeper and have been approached by a home maintenance...

Accounting
1.2K views

Help Save & Exit Submit Lukow Products is investigating the purchase of a piece of...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.] Data for Hermann Corporation...

Accounting
1.2K views

1. In a traditional manufacturing setup a.there is significant move and wait time. b.organization is...

Finance
1.2K views

The WorldValue fund has value weights on asset classes and returns as given in the...