On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.No. Debits No. Credits101 Cash $ 2,976 154 Accumulated Depreciation—Equipment $ 2,480112 Accounts Receivable 5,270 201 Accounts Payable 3,224126 Supplies 2,232 209 Unearned Service Revenue 1,488153 Equipment 14,880 212 Salaries and Wages Payable 868 311 Common Stock 12,400 320 Retained Earnings 4,898 $25,358 $25,358During November, the following summary transactions were completed.Nov. 8 Paid $2,108 for salaries due employees, of which $868 is for October salaries.10 Received $4,232 cash from customers on account.12 Received $3,844 cash for services performed in November.15 Purchased equipment on account $2,480.17 Purchased supplies on account $868.20 Paid creditors on account $3,348.22 Paid November rent $496.25 Paid salaries $2,108.27 Performed services on account and billed customers $2,356 for these services.29 Received $744 from customers for future service. On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.No.101112 Accounts Receivable126 Supplies153Nov. 810121517202225Cash2729DebitsEquipment.During November, the following summary transactions were completed.No.$2,976 154 Accumulated Depreciation-Equipment5,270 201Accounts PayableUnearned Service RevenueSalaries and Wages PayableCommon StockRetained Earnings2.23214,880$25,358209212311320CreditsPaid $2,108 for salaries due employees, of which $868 is for October salaries.Received $4,232 cash from customers on account.Received $3,844 cash for services performed in November.Purchased equipment on account $2,480.Purchased supplies on account $868.Paid creditors on account $3,348.Paid November rent $496.Paid salaries $2,108.Performed services on account and billed customers $2,356 for these services.Received $744 from customers for future service.Prepare an retained earnings statement for November 30.Splish Brothers Inc.Retained Earnings Statement$ 2,4803,2241,48886812,4004,898$25,358| On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.No.101Cash112 Accounts Receivable126 Supplies1531012DebitsEquipment222527No.$ 2,976 1545,2702,23214,880$25,358201209212During November, the following summary transactions were completed.311Nov. 8 Paid $2,108 for salaries due employees, of which $868 is for October salaries.Received $4,232 cash from customers on account.Received $3,844 cash for services performed in November.Purchased equipment on account $2,480.320CreditsDepreciation-EquipmentAccumulatedAccounts PayableUnearned Service RevenueSalaries and Wages PayableCommon StockRetained Earnings1517 Purchased supplies on account $868.20Paid creditors on account $3,348.Paid November rent $496.Paid salaries $2,108.Performed services on account and billed customers $2,356 for these services.29 Received $744 from customers for future service.Prepare an income statement for November 30.Splish Brothers Inc.Income Statement$$2,4803,2241,48886812,4004,898$25,358$$

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Answered: On November 1, 2022, the account…

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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On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.

No.	Debits	No.	Credits
101	Cash	$ 2,976	154	Accumulated Depreciation—Equipment	$ 2,480
112	Accounts Receivable	5,270	201	Accounts Payable	3,224
126	Supplies	2,232	209	Unearned Service Revenue	1,488
153	Equipment	14,880	212	Salaries and Wages Payable	868
			311	Common Stock	12,400
			320	Retained Earnings	4,898
		$25,358			$25,358

During November, the following summary transactions were completed.

Nov. 8		Paid $2,108 for salaries due employees, of which $868 is for October salaries.
10		Received $4,232 cash from customers on account.
12		Received $3,844 cash for services performed in November.
15		Purchased equipment on account $2,480.
17		Purchased supplies on account $868.
20		Paid creditors on account $3,348.
22		Paid November rent $496.
25		Paid salaries $2,108.
27		Performed services on account and billed customers $2,356 for these services.
29		Received $744 from customers for future service.

On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.
No.
101
112 Accounts Receivable
126 Supplies
153
Nov. 8
10
12
15
17
20
22
25
Cash
27
29
Debits
Equipment.
During November, the following summary transactions were completed.
No.
$2,976 154 Accumulated Depreciation-Equipment
5,270 201
Accounts Payable
Unearned Service Revenue
Salaries and Wages Payable
Common Stock
Retained Earnings
2.232
14,880
$25,358
209
212
311
320
Credits
Paid $2,108 for salaries due employees, of which $868 is for October salaries.
Received $4,232 cash from customers on account.
Received $3,844 cash for services performed in November.
Purchased equipment on account $2,480.
Purchased supplies on account $868.
Paid creditors on account $3,348.
Paid November rent $496.
Paid salaries $2,108.
Performed services on account and billed customers $2,356 for these services.
Received $744 from customers for future service.
Prepare an retained earnings statement for November 30.
Splish Brothers Inc.
Retained Earnings Statement
$ 2,480
3,224
1,488
868
12,400
4,898
$25,358
|

On November 1, 2022, the account balances of Splish Brothers Inc. were as follows.
No.
101
Cash
112 Accounts Receivable
126 Supplies
153
10
12
Debits
Equipment
22
25
27
No.
$ 2,976 154
5,270
2,232
14,880
$25,358
201
209
212
During November, the following summary transactions were completed.
311
Nov. 8 Paid $2,108 for salaries due employees, of which $868 is for October salaries.
Received $4,232 cash from customers on account.
Received $3,844 cash for services performed in November.
Purchased equipment on account $2,480.
320
Credits
Depreciation-Equipment
Accumulated
Accounts Payable
Unearned Service Revenue
Salaries and Wages Payable
Common Stock
Retained Earnings
15
17 Purchased supplies on account $868.
20
Paid creditors on account $3,348.
Paid November rent $496.
Paid salaries $2,108.
Performed services on account and billed customers $2,356 for these services.
29 Received $744 from customers for future service.
Prepare an income statement for November 30.
Splish Brothers Inc.
Income Statement
$
$2,480
3,224
1,488
868
12,400
4,898
$25,358
$
$

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