) Enter the October 31 balances in the ledger account. On October 31, 2024, the account balances of Martin Equipment Repair were as follows.CashAccounts ReceivableSuppliesEquipmentNov 810wi1223.15During November, the following summary transactions were completed.17202222Debit$2,38027294,2301,78011,990$20.370Adjustment data consist ofAccumulated Depreciation-EquipmentAccounts PayableUnearned RevenueSalaries PayableMartin, CapitaCredit$1,9802,5801,180680Supplies on hand $1.300Accrued safaries payable $330Depreciation for the month is $16013,950Paid $1,680 for salaries due employees, of which $680 is for October salariesReceived $3,600 cash from customers on accountReceived $3,000 cash for services performed in NovemberPurchased equipment on account, $1,980Purchased supplies on account, $680$20,370Paid creditors on account, $2.6800Paid November rent of $380.Paid salaries of $1,680Performed services on account and billed customers for these services, $2,180Received $580 from customers for future servicemonth

As per dual concept of accounting, every transaction has dual impact on the books of accounts.Assets…

On October 31, 2024, the account balances of Martin Equipment Repair were as follows. Cash Accounts Receivable Supplies Equipment Nov B 10 12 w 15 During November, the following summary transactions were completed. 17 20 22 22 27 29 Debit $2,380 4,230 1780 11.990 $20.370 Ser Adjustment data consist of Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Salaries Payable Martin, Capital Purchased supplies on account, $680 Paid creditors on account, $2.680 Paid November rant of $380. Paid salaries of $1,680 Performed services on account and billed customers fo Received $580 from customers for future service Supplies on hand $1.300 2 Accrued salaries payable, $330 2. Depreciation for the month is $160 Credit $1,980 2,580 1,180 Paid $1,680 for salaries due employees, of which $660 is for October salaries Received $3.600 cash from customers on account Received $3,000 cash for services performed in November Purchased equipment on account, $1.990 680 13,950 $20,370 ese services, $2,180

On October 31, 2024, the account balances of Martin Equipment Repair were as follows. Cash Accounts Receivable Supplies Equipment Nov B 10 12 w 15 During November, the following summary transactions were completed. 17 20 22 22 27 29 Debit $2,380 4,230 1780 11.990 $20.370 Ser Adjustment data consist of Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Salaries Payable Martin, Capital Purchased supplies on account, $680 Paid creditors on account, $2.680 Paid November rant of $380. Paid salaries of $1,680 Performed services on account and billed customers fo Received $580 from customers for future service Supplies on hand $1.300 2 Accrued salaries payable, $330 2. Depreciation for the month is $160 Credit $1,980 2,580 1,180 Paid $1,680 for salaries due employees, of which $660 is for October salaries Received $3.600 cash from customers on account Received $3,000 cash for services performed in November Purchased equipment on account, $1.990 680 13,950 $20,370 ese services, $2,180

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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Similar questions

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