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On November 1, 2014, the account balances of Noreen Equipment Repair were as
No. Debits No. Credits
101 Cash $ 2,500 158 Accumulated Depreciation—
112 Accounts Receivable 4,400 Equipment $ 2,000
126 Supplies 1,600 201 Accounts Payable 3,100
157 Equipment 14,000 209 Unearned Service Revenue 1,700
212 Salaries and Wages Payable 700
311 Common Stock 11,000
320 Retained Earnings 4,000
$22,500 $22,500
During November the following summary transactions were completed.
Nov. 8 Paid $1,600 for salaries due employees, of which $700 is for October salaries.
10 Received $3,240 cash from customers on account.
12 Received $3,600 cash for services performed in November.
15 Purchased equipment on account $2,500.
17 Purchased supplies on account $500.
20 Paid creditors on account $2,900.
22 Paid November rent $800.
25 Paid salaries $1,800.
27 Performed services on account and billed customers for services provided $700.
29 Received $900 from customers for future service.
Adjustment data consist of:
1. Supplies on hand $1,000.
2. Accrued salaries payable $450.
3. Depreciation for the month is $400.
4. Unearned service revenue of $1,500 is earned.
(a) Enter the November 1 balances in the ledger accounts.
(b) Journalize the November transactions.
(c) Post to the ledger accounts. Use J1 for the posting reference. Use the following addi-
tional accounts: No. 400 Service Revenue, No. 631 Supplies Expense, No. 711
Depreciation 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 a retained earnings statement for November and a
balance sheet at November 30


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