Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. problem 4-7a on november 1, 2014, the following we

Problem 4-7A On November 1, 2014, the following were the account balances of Rijo Equipment...

50.1K

Verified Solution

Question

Accounting

imageimageimage

Problem 4-7A On November 1, 2014, the following were the account balances of Rijo Equipment Repair. Debit $ 3,460 3,050 1,790 10,670 Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings $ 500 2,970 400 760 10,670 3,670 $18,970 $18,970 During November, the following summary transactions were completed Nov. 8 10 12 15 17 20 22 25 27 29 Paid $1,450 for salaries due employees, of which $690 is for November and $760 is for October salaries payable. Received $1,846 cash from customers in payment of account Received $3,763 cash for services performed in November. Purchased store equipment on account $3,513 Purchased supplies on account $1,343 Paid creditors $2,519 of accounts payable due Paid November rent $470 Paid salaries $1,161. Performed services on account worth $936 and billed customers Received $826 from customers for services to be provided in the future

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