Student's full name: Cao Mai Anh
Group: 12
Student's id: B2201129
P3-5B On November 1, 2010, the account balances of Morelli Equipment Repair were as follows.
\begin{tabular}{llr}
No & \multicolumn{1}{c}{ Debits } & \\
\cline { 3 - 3 } 101 & Cash & \( \$ 2,160 \) \\
112 & Accounts Receivable & 3,825 \\
126 & Supplies & 1,620 \\
153 & Store Equipment & 10,800 \\
& & \( \underline{\$ 18,405} \)
\end{tabular}
\begin{tabular}{llr}
No & \multicolumn{1}{c}{ Credits } & \\
\cline { 4 - 4 } 154 & Accumulated Depreciation & \( \$ 1,800 \) \\
201 & Accounts Payable & 2,340 \\
209 & Unearned Service Revenue & 1,080 \\
212 & Salaries Payable & 630 \\
301 & V. Morelli, Capital & \( \underline{12,555} \) \\
& & \( \underline{\$ 18,405} \)
\end{tabular}
During November the following summary transactions were completed.
Nov. 8 Paid \$1,530 for salaries due employees, of which \( \$ 630 \) is for October salaries.
10 Received \( \$ 3,078 \) cash from customers on account.
12 Received \$2,790 cash for services performed in November.
15 Purchased store equipment on account \( \$ 1,800 \).
17 Purchased supplies on account \( \$ 630 \).
20 Paid creditors on account \( \$ 2,430 \).
22 Paid November rent \( \$ 360 \).
25 Paid salaries \( \$ 1,530 \).
27 Performed services on account and billed customers for services provided \( \$ 810 \).
29 Received \( \$ 540 \) from customers for service.
Adjustment data consist of:
1. Supplies on hand \( \$ 1,080 \).
2. Accrued salaries payable \( \$ 360 \).
3. Depreciation for the month is \( \$ 180 \).
4. Unearned service revenue of \( \$ 1,125 \) is earned.
Instructions
(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 additional account: No. 407 Service Revenue, No. 615 Depreciation Expense. No. 631 Supplies Expense.
No. 726 Salaries 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 .
