Homework Help is Here – Start Your Trial Now!
Business
Accounting
PHAROAH EQUIPMENT REPAIR Income Statement #

PHAROAH EQUIPMENT REPAIR Income Statement #

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)

On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 126 112 Accounts Receivable Supplies Equipment 153 Nov. 8 10 12 15 17 20 22 Cash 25 Debit During November, the following summary transactions were completed. 27 29 No. $2,400 154 4,200 201 1,810 209 12,960 $21,370 212 301 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
Transcribed Image Text:On November 1, 2022, the account balances of Pharoah Equipment Repair were as follows. No. 101 126 112 Accounts Receivable Supplies Equipment 153 Nov. 8 10 12 15 17 20 22 Cash 25 Debit During November, the following summary transactions were completed. 27 29 No. $2,400 154 4,200 201 1,810 209 12,960 $21,370 212 301 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
eTextbook and Media List of Accounts # PHAROAH EQUIPMENT REPAIR Income Statement $ Attempts: 0 of 2 used Submit Answer
Transcribed Image Text:eTextbook and Media List of Accounts # PHAROAH EQUIPMENT REPAIR Income Statement $ Attempts: 0 of 2 used Submit Answer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Financial Reporting in Hyperinflationary Economies
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.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS