On September 1, 2012, the account balances of Moore Equipment Repair were as follows.
|
No. |
Debits |
No. |
|||
|
101 |
Cash |
$ 4,880 |
154 |
Accumulated Depreciation—Equipment |
$ 1,500 |
|
112 |
Accounts Receivable |
3,520 |
201 |
Accounts Payable |
3,400 |
|
126 |
Supplies |
2,000 |
209 |
Unearned Service Revenue |
1,400 |
|
153 |
Equipment |
15,000 |
212 |
Salaries and Wages Payable |
500 |
|
$25,400 |
301 |
Owner’s Capital |
18,600 |
||
|
$25,400 |
During September, the following summary transactions were completed.
|
Sept. |
8 |
Paid $1,400 for salaries due employees, of which $900 is for September. |
|
10 |
Received $1,200 cash from customers on account. |
|
|
12 |
Received $3,400 cash for services performed in September. |
|
|
15 |
Purchased store equipment on account $3,000. |
|
|
17 |
Purchased supplies on account $1,200. |
|
|
20 |
Paid creditors $4,500 on account. |
|
|
22 |
Paid September rent $500. |
|
|
25 |
Paid salaries $1,250. |
|
|
27 |
Performed services on account and billed customers for services provided $2,100. |
|
|
29 |
Received $650 from customers for future service. |
Adjustment data consist of:
1. Supplies on hand $1,300.
2. Accrued salaries payable $300.
3. Depreciation is $100 per month.
4. Unearned service revenue of $1,450 is earned.
Instructions
(a) Enter the September 1 balances in the ledger accounts.
(b) Journalize the September transactions.
(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 September 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 September and a balance sheet at September 30.