On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable Supplies Equipment 126 153 Nov. 8. 10 12 15 17 During November, the following summary transactions were completed. 20 22 25 Debit 27 29 No. $2,400 154 4,200 201 1,810. 209 12,960 212 $21,370 301 Credit Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Paid $1,740 for salaries due employees, of which $662 is for October salaries. Received $3,430 cash from customers on account. Received $3,110 cash for services performed in November. Purchased equipment on account $1,970. Purchased supplies on account $710. Paid creditors on account $2,680. Paid November rent $360. Paid salaries $1,740. Performed services on account and billed customers $1,910 for these services. Received $640 from customers for future service. $2,160 2,650 1,200 662 14,698 $21,370

On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable Supplies Equipment 126 153 Nov. 8. 10 12 15 17 During November, the following summary transactions were completed. 20 22 25 Debit 27 29 No. $2,400 154 4,200 201 1,810. 209 12,960 212 $21,370 301 Credit Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Owner's Capital Paid $1,740 for salaries due employees, of which $662 is for October salaries. Received $3,430 cash from customers on account. Received $3,110 cash for services performed in November. Purchased equipment on account $1,970. Purchased supplies on account $710. Paid creditors on account $2,680. Paid November rent $360. Paid salaries $1,740. Performed services on account and billed customers $1,910 for these services. Received $640 from customers for future service. $2,160 2,650 1,200 662 14,698 $21,370

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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