Question

Problem 3-5A On November 1, 2019, the account balances of Schilling Equipment Repair were as follows. Debits No. No. Credits Accumulated $ 2,400 154 Depreciation- Equipment $ 2,000 101 Cash Accounts Receivable Accounts Payable 112 4,250 201 2,600 Unearned Service 126 Supplies 1,800 209 1,200 Revenue Salaries and Wages Payable 153 Equipment 12,000 212 700 311 Common Stock 10,000 3,950 Retained Earnings 320 $20,450 $20,450 During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $700 is for October salaries. 10 Received $3,420 cash from customers on account. 12 Received $3,100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 Purchased supplies on account $700. 20 Paid creditors on account $2,700. Paid November rent $400. 22 25 Paid salaries $1,700. 27 Performed services on account and billed customers $1,900 for these services. 29 Received $600 from customers for future service. Enter the November 1 balances in the ledger accounts. Cash No. 101 Explanation Ref Credit Balance Date Debit Balance Nov. 1 Accounts Receivable No. 112 Date Explanation Debit Credit Ref Balance Balance Nov. 1 Supplies No. 126 Date Explanation Debit Credit Balance Ref

Answer 1

Cash
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					2,400
Accounts receivable
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					4,250
Supplies
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					1,800
Equipment
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					12,000
Accumulated depreciation-Equipment
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					2,000
Accounts payable
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					2,600
unearned service revenue
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					1,200
Salaries and wages payable
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					700
Common stock
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					10,000
Retained earnings
date	Explanation			Debit	Credit	Balance
1-Nov	Balance					3,950