On November 1, 2020, the account balances of Cullumber Equipment Repair were as follows. No. Debits No. Credits 101 Cash $ 2,450 154 Accumulated Depreciation-Equipment $ 2,090 112 Accounts Receivable 4,220 201 Accounts Payable 2,570 126 Supplies 1,780 209 Unearned Service Revenue 1,160 153 Equipment 12,540 212 Salaries and Wages Payable 734 301 Owner's Capital 14,436 $20,990 $20,990 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $734 is for October salaries. 10 Received $3,420 cash from customers on account. 12 Received $3,050 cash for services performed in November. 15 Purchased equipment on account $2,030. 17 Purchased supplies on account $700. 20 Paid creditors on account $2,660. 22 Paid November rent $370. 25 Paid salaries $1,700. 27 Performed services on account and billed customers for these services $1,950. 29 Received $640 from customers for future service.
On November 1, 2020, the account balances of Cullumber Equipment Repair were as follows. No. Debits No. Credits 101 Cash $ 2,450 154 Accumulated Depreciation-Equipment $ 2,090 112 Accounts Receivable 4,220 201 Accounts Payable 2,570 126 Supplies 1,780 209 Unearned Service Revenue 1,160 153 Equipment 12,540 212 Salaries and Wages Payable 734 301 Owner's Capital 14,436 $20,990 $20,990 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $734 is for October salaries. 10 Received $3,420 cash from customers on account. 12 Received $3,050 cash for services performed in November. 15 Purchased equipment on account $2,030. 17 Purchased supplies on account $700. 20 Paid creditors on account $2,660. 22 Paid November rent $370. 25 Paid salaries $1,700. 27 Performed services on account and billed customers for these services $1,950. 29 Received $640 from customers for future service.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Journalize the November transactions.

Transcribed Image Text:On November 1, 2020, the account balances of Cullumber Equipment Repair were as follows.
No.
Debits
No.
Credits
101 Cash
$ 2,450 154 Accumulated Depreciation-Equipment
$ 2,090
112 Accounts Receivable
4,220 201 Accounts Payable
2,570
126 Supplies
1,780 209 Unearned Service Revenue
1,160
153 Equipment
12,540 212 Salaries and Wages Payable
734
301 Owner's Capital
14,436
$20,990
$20,990
During November, the following summary transactions were completed.
Nov. 8 Paid $1,700 for salaries due employees, of which $734 is for October salaries.
10 Received $3,420 cash from customers on account.
12 Received $3,050 cash for services performed in November.
15 Purchased equipment on account $2,030.
17 Purchased supplies on account $700.
20 Paid creditors on account $2,660.
22 Paid November rent $370.
25 Paid salaries $1,700.
27 Performed services on account and billed customers for these services $1,950.
29 Received $640 from customers for future service.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education