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Accounting

Problem 4-7A (Part Level Submission)

On November 1, 2017, the following were the account balances of Soho Equipment Repair.

	Debit		Credit
Cash	$ 3,120	Accumulated DepreciationEquipment	$ 500
Accounts Receivable	3,010	Accounts Payable	2,630
Supplies	1,450	Unearned Service Revenue	400
Equipment	10,330	Salaries and Wages Payable	720
		Common Stock	10,330
		Retained Earnings	3,330
	$17,910		$17,910

During November, the following summary transactions were completed.

Nov. 8

Paid $1,220 for salaries due employees, of which $500 is for November and $720 is for October salaries payable.

Received $1,860 cash from customers in payment of account.

Received $3,750 cash for services performed in November.

Purchased store equipment on account $3,660.

Purchased supplies on account $1,410.

Paid creditors $2,510 of accounts payable due.

Paid November rent $500.

Paid salaries $1,010.

Performed services on account worth $950 and billed customers.

Received $800 from customers for services to be performed in the future.

(a)

Enter the November 1 balances in the ledger accounts.

Cash
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Accounts Receivable
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Supplies
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Equipment
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Accumulated DepreciationEquipment
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Accounts Payable
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Unearned Service Revenue
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Salaries and Wages Payable
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Common Stock
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance
Retained Earnings
choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a debit balance	choose the end date of the accounting period 11/1 Bal.11/811/1011/1211/1511/1711/2011/2211/2511/2711/2911/3011/30 Bal.	enter a credit balance

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