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P3.5A (LO 2, 3, 4) Financial Statement On November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Debit No. $ 2,400 154 Accumulated Depreciation Equipment 4,250 201 Accounts Payable 1,800 209 12,000 212 Unearned Service Revenue Salaries and Wages Payable Owner's Capital 301 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $700 is for October salaries. Received $3,620 cash from customers on account. 10 12 Received $3,100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 Purchased supplies on account $700. 20 Paid creditors on account $2,700. 22 Paid November rent $400. 25 Paid salaries $1,700. 27 Performed services on account and billed customers for these services $2,200. 29 Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS

P3.5A (LO 2, 3, 4) Financial Statement On November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Debit No. $ 2,400 154 Accumulated Depreciation Equipment 4,250 201 Accounts Payable 1,800 209 12,000 212 Unearned Service Revenue Salaries and Wages Payable Owner's Capital 301 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $700 is for October salaries. Received $3,620 cash from customers on account. 10 12 Received $3,100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 Purchased supplies on account $700. 20 Paid creditors on account $2,700. 22 Paid November rent $400. 25 Paid salaries $1,700. 27 Performed services on account and billed customers for these services $2,200. 29 Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS

FINANCIAL ACCOUNTING
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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For part 3 there are missing account headers for some of the tables can you fix this for me?

P3.5A (LO 2, 3, 4) Financial Statement On November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Nov. 8 10 12 15 Debit No. $ 2,400 154 4,250 201 1,800 209 12,000 212 17 20 22 25 27 29 $20,450 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable During November, the following summary transactions were completed. 301 Owner's Capital Paid $1,700 for salaries due employees, of which $700 is for October salaries. Received $3,620 cash from customers on account. Received $3,100 cash for services performed in November. Purchased equipment on account $2,000. Purchased supplies on account $700. Paid creditors on account $2,700. Paid November rent $400. Paid salaries $1,700. Performed services on account and billed customers for these services $2,200. Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Instructions a. Enter the November I balances in the ledger accounts. b. Journalize the November transactions. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 c. Post to the ledger accounts. Use J1 for the posting reference. Use the following additional accounts: No. 407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. d. Prepare a trial balance at November 30. e. Journalize and post adjusting entries. f. Prepare an adjusted trial balance. g. Prepare an income statement and an owner's equity statement for November and a balance sheet at November 30. Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS d. Trial balance $25,650 f. Adj. trial balance $26,200 g. Net income $1,770; Ending capital $15,720 Total assets $19,250
Transcribed Image Text:P3.5A (LO 2, 3, 4) Financial Statement On November 1, 2020, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Nov. 8 10 12 15 Debit No. $ 2,400 154 4,250 201 1,800 209 12,000 212 17 20 22 25 27 29 $20,450 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable During November, the following summary transactions were completed. 301 Owner's Capital Paid $1,700 for salaries due employees, of which $700 is for October salaries. Received $3,620 cash from customers on account. Received $3,100 cash for services performed in November. Purchased equipment on account $2,000. Purchased supplies on account $700. Paid creditors on account $2,700. Paid November rent $400. Paid salaries $1,700. Performed services on account and billed customers for these services $2,200. Received $600 from customers for future service. Adjustment data consist of: 1. Supplies on hand $1,400. 2. Accrued salaries payable $350. 3. Depreciation for the month is $200. 4. Services related to unearned service revenue of $1,220 were performed. Instructions a. Enter the November I balances in the ledger accounts. b. Journalize the November transactions. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 c. Post to the ledger accounts. Use J1 for the posting reference. Use the following additional accounts: No. 407 Service Revenue, No. 615 Depreciation Expense, No. 631 Supplies Expense, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. d. Prepare a trial balance at November 30. e. Journalize and post adjusting entries. f. Prepare an adjusted trial balance. g. Prepare an income statement and an owner's equity statement for November and a balance sheet at November 30. Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS d. Trial balance $25,650 f. Adj. trial balance $26,200 g. Net income $1,770; Ending capital $15,720 Total assets $19,250
2 Particulars Debit 3 Beginning Balance $ 2,400 Salaries expense $ 4 Accounts receivable $ 5 Service revenue. $ 6 Unearned service revenue $ 3,620 Salaries payable $ 3,100 Accounts payable $ 600 Rent expense Salaries expense Ending Balance $ 9,720 TOTAL 7 8 9 TOTAL 10 11 12 Particulars 13 Beginning Balance 14 Service revenue 15 TOTAL 16 17 18 Particulars 19 Beginning Balance 20 Accounts payable 21 TOTAL 22 23 24 Particulars 25 Beginning Balance 26 Accounts payable 27 TOTAL $ Accounts receivables Debit 4,250 Cash 2,200 Ending Balance 6,450 TOTAL $ $ $ M Particulars $ Supplies Debit Particulars Particulars $ $ 2,500 TOTAL Equipment Debit $ 12,000 $ 2,000 Ending Balance $ 14,000 TOTAL $ $ $ Particulars $ $ $ N Credit 1,000 700 2,700 400 1,700 3,220 9,720 Credit 1,800 700 Ending Balance $ 2,500 $ 2,500 3,620 2,830 6,450 Credit Credit $ 14,000 $ 14,000 O P Particulars Ending Balance TOTAL Cash Particulars Ending Balance TOTAL Particulars Ending Balance TOTAL Particulars Cash Ending Balance TOTAL $ $ $ Accounts payable/ Creditors Debit $ $ Q Debit R Particulars 2,000 Beginning Balance 2,000 TOTAL S $ Particulars 2,700 Beginning Balance Equipment 2,600 Supplies 5,300 TOTAL Unearned service revenue Debit Particulars Beginning Balance. 1,800 Cash 1,800 TOTAL Salaries and wages payable Debit Particulars $ 700 Beginning Balance $ $ 700 TOTAL S Credit $ 2,000 $ 2,000 $ $ $ $ $ $ $ S $ Credit 2,600 2,000 700 5,300 Credit 1,200 600 1,800 Credit 700 700 T U Particulars Beginning Balance $ Cash TOTAL $ $ Particulars Ending Balance TOTAL Particulars Beginning Balance Cash Cash TOTAL Particulars Ending Balance TOTAL $ $ $ $ $ $ V Debit $ $ W Particulars 400 Ending Balance 400 TOTAL Service revenue Debit Salaries and wages expense Debit Particulars Particulars Beginning Balance Cash 5,300 Accounts receivable $ 5,300 TOTAL S S $ 1,000 1,700 Ending Balance 2,700 TOTAL Owners' capital $ $ Debit Particulars 13,950 Beginning Balance 13,950 TOTAL $ $ $ $ XO Credit Credit 400 400 3,100 2,200 5,300 Credit 2,700 2,700 Credit 13,950 13,950
Transcribed Image Text:2 Particulars Debit 3 Beginning Balance $ 2,400 Salaries expense $ 4 Accounts receivable $ 5 Service revenue. $ 6 Unearned service revenue $ 3,620 Salaries payable $ 3,100 Accounts payable $ 600 Rent expense Salaries expense Ending Balance $ 9,720 TOTAL 7 8 9 TOTAL 10 11 12 Particulars 13 Beginning Balance 14 Service revenue 15 TOTAL 16 17 18 Particulars 19 Beginning Balance 20 Accounts payable 21 TOTAL 22 23 24 Particulars 25 Beginning Balance 26 Accounts payable 27 TOTAL $ Accounts receivables Debit 4,250 Cash 2,200 Ending Balance 6,450 TOTAL $ $ $ M Particulars $ Supplies Debit Particulars Particulars $ $ 2,500 TOTAL Equipment Debit $ 12,000 $ 2,000 Ending Balance $ 14,000 TOTAL $ $ $ Particulars $ $ $ N Credit 1,000 700 2,700 400 1,700 3,220 9,720 Credit 1,800 700 Ending Balance $ 2,500 $ 2,500 3,620 2,830 6,450 Credit Credit $ 14,000 $ 14,000 O P Particulars Ending Balance TOTAL Cash Particulars Ending Balance TOTAL Particulars Ending Balance TOTAL Particulars Cash Ending Balance TOTAL $ $ $ Accounts payable/ Creditors Debit $ $ Q Debit R Particulars 2,000 Beginning Balance 2,000 TOTAL S $ Particulars 2,700 Beginning Balance Equipment 2,600 Supplies 5,300 TOTAL Unearned service revenue Debit Particulars Beginning Balance. 1,800 Cash 1,800 TOTAL Salaries and wages payable Debit Particulars $ 700 Beginning Balance $ $ 700 TOTAL S Credit $ 2,000 $ 2,000 $ $ $ $ $ $ $ S $ Credit 2,600 2,000 700 5,300 Credit 1,200 600 1,800 Credit 700 700 T U Particulars Beginning Balance $ Cash TOTAL $ $ Particulars Ending Balance TOTAL Particulars Beginning Balance Cash Cash TOTAL Particulars Ending Balance TOTAL $ $ $ $ $ $ V Debit $ $ W Particulars 400 Ending Balance 400 TOTAL Service revenue Debit Salaries and wages expense Debit Particulars Particulars Beginning Balance Cash 5,300 Accounts receivable $ 5,300 TOTAL S S $ 1,000 1,700 Ending Balance 2,700 TOTAL Owners' capital $ $ Debit Particulars 13,950 Beginning Balance 13,950 TOTAL $ $ $ $ XO Credit Credit 400 400 3,100 2,200 5,300 Credit 2,700 2,700 Credit 13,950 13,950
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