Services. accounting ation of ments. Debit Credit Cash Accounts Receivable Supplies Equipment $ 6,040 2,910 1,030 10,000 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings $ 600 2,300 1,260 1,420 10,000 4,400 $19,980 $19,980 During August, the following summary transactions were completed. Aug. 5 10 Received $1,200 cash from customers in payment of account. Paid $3,120 for salaries due employees, of which $1,700 is for August and $1,420 is for July salaries payable. Received $2,800 cash for services performed in August. Purchased store equipment on account $2,000. Purchased supplies on account $860. Paid creditors $2,000 of accounts payable due. Paid August rent $380. 25 12 15 17 20 22 Paid salaries $2,900. 27 Performed services worth $3,130 on account and billed customers. Received $780 from customers for services to be provided in the future. 29 Adjustment data: 1. Supplies on hand are valued at $960. 2. Accrued salaries payable are $1,540. 3. Depreciation for the month is $320. 4. Services were performed to satisfy $800 of unearned service revenue. Instructions (a) Enter the August 1 balances in the ledger accounts. (Use T-accounts.) (b) Journalize the August transactions. Continuing Cookie Chronicle 2 (c) Post to the ledger accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. (d) Prepare a trial balance at August 31. (e) Journalize and post adjusting entries. (f) Prepare an adjusted trial balance. (g) Prepare an income statement and a retained earnings statement for August and a classified balance sheet at August 31. () Cash Tot, ad trial balance $2.42 $27.9 PA 2n
Services. accounting ation of ments. Debit Credit Cash Accounts Receivable Supplies Equipment $ 6,040 2,910 1,030 10,000 Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings $ 600 2,300 1,260 1,420 10,000 4,400 $19,980 $19,980 During August, the following summary transactions were completed. Aug. 5 10 Received $1,200 cash from customers in payment of account. Paid $3,120 for salaries due employees, of which $1,700 is for August and $1,420 is for July salaries payable. Received $2,800 cash for services performed in August. Purchased store equipment on account $2,000. Purchased supplies on account $860. Paid creditors $2,000 of accounts payable due. Paid August rent $380. 25 12 15 17 20 22 Paid salaries $2,900. 27 Performed services worth $3,130 on account and billed customers. Received $780 from customers for services to be provided in the future. 29 Adjustment data: 1. Supplies on hand are valued at $960. 2. Accrued salaries payable are $1,540. 3. Depreciation for the month is $320. 4. Services were performed to satisfy $800 of unearned service revenue. Instructions (a) Enter the August 1 balances in the ledger accounts. (Use T-accounts.) (b) Journalize the August transactions. Continuing Cookie Chronicle 2 (c) Post to the ledger accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. (d) Prepare a trial balance at August 31. (e) Journalize and post adjusting entries. (f) Prepare an adjusted trial balance. (g) Prepare an income statement and a retained earnings statement for August and a classified balance sheet at August 31. () Cash Tot, ad trial balance $2.42 $27.9 PA 2n
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Services.
accounting
ation of
ments.
Debit
Credit
Cash
Accounts Receivable
Supplies
Equipment
$ 6,040
2,910
1,030
10,000
Accumulated Depreciation-Equipment
Accounts Payable
Unearned Service Revenue
Salaries and Wages Payable
Common Stock
Retained Earnings
$ 600
2,300
1,260
1,420
10,000
4,400
$19,980
$19,980
During August, the following summary transactions were completed.
Aug. 5
10
Received $1,200 cash from customers in payment of account.
Paid $3,120 for salaries due employees, of which $1,700 is for August and
$1,420 is for July salaries payable.
Received $2,800 cash for services performed in August.
Purchased store equipment on account $2,000.
Purchased supplies on account $860.
Paid creditors $2,000 of accounts payable due.
Paid August rent $380.
25
12
15
17
20
22
Paid salaries $2,900.
27 Performed services worth $3,130 on account and billed customers.
Received $780 from customers for services to be provided in the future.
29
Adjustment data:
1. Supplies on hand are valued at $960.
2. Accrued salaries payable are $1,540.
3. Depreciation for the month is $320.
4. Services were performed to satisfy $800 of unearned service revenue.
Instructions
(a) Enter the August 1 balances in the ledger accounts. (Use T-accounts.)
(b) Journalize the August transactions.
Continuing Cookie Chronicle 2
(c) Post to the ledger accounts. Use Service Revenue, Depreciation Expense, Supplies
Expense, Salaries and Wages Expense, and Rent Expense.
(d) Prepare a trial balance at August 31.
(e) Journalize and post adjusting entries.
(f) Prepare an adjusted trial balance.
(g) Prepare an income statement and a retained earnings statement for August and a
classified balance sheet at August 31.
() Cash
Tot, ad trial balance
$2.42
$27.9
PA 2n
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