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1/21/2020 Problem 4-7A (Part Level Submission)
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Print by: Marneze Davis AC201:AC201MNS1A2020 Principles Financial Accounting / AC201 - Chapter 4 Assignment
*Problem 4-7A (Part Level Submission) On November 1, 2017, the following were the account balances of Soho Equipment Repair.
Debit Credit
Cash $ 3,230 Accumulated Depreciation—Equipment $ 500
Accounts Receivable 3,030 Accounts Payable 2,740
Supplies 1,560 Unearned Service Revenue 400
Equipment 10,440 Salaries and Wages Payable 740
Common Stock 10,440
Retained Earnings 3,440
$18,260 $18,260
During November, the following summary transactions were completed.
Nov. 8
Paid $1,220 for salaries due employees, of which $480 is for November and $740 is for October salaries payable.
10 Received $1,820 cash from customers in payment of account.
12 Received $3,770 cash for services performed in November.
15 Purchased store equipment on account $3,850.
17 Purchased supplies on account $1,370.
20 Paid creditors $2,580 of accounts payable due.
22 Paid November rent $520.
25 Paid salaries $1,040.
27 Performed services on account worth $980 and billed customers.
29 Received $820 from customers for services to be performed in the future.
*(a) Enter the November 1 balances in the ledger accounts.
Cash
Accounts Receivable
Supplies
Equipment
Accumulated Depreciation—Equipment
1/21/2020 Problem 4-7A (Part Level Submission)
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Attempts: 0 of 3 used
Accounts Payable
Unearned Service Revenue
Salaries and Wages Payable
Common Stock
Retained Earnings
*(b) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(c) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(d) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(e1) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(e2) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(f) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(g1)
1/21/2020 Problem 4-7A (Part Level Submission)
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The parts of this question must be completed in order. This part will be available when you complete the part above.
*(g2) The parts of this question must be completed in order. This part will be available when you complete the part above.
*(g3) The parts of this question must be completed in order. This part will be available when you complete the part above.
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