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    On November 1 2010 The Following Were The Account Balances

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    M Bilal Saleem
    On November 1, 2010, Montana Equipment Repair had the following account balances. During November, the company paid salaries, received cash from customers, received cash for services, purchased equipment and supplies on account, paid creditors, paid rent, paid more salaries, billed customers for services, and received advance payment for future services. Adjustments included updating supplies, accrued salaries, depreciation expense, and unearned revenue accounts.

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    On November 1 2010 The Following Were The Account Balances

    Uploaded by

    M Bilal Saleem
    47 views1 page
    On November 1, 2010, Montana Equipment Repair had the following account balances. During November, the company paid salaries, received cash from customers, received cash for services, purchased equipment and supplies on account, paid creditors, paid rent, paid more salaries, billed customers for services, and received advance payment for future services. Adjustments included updating supplies, accrued salaries, depreciation expense, and unearned revenue accounts.

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    On November 1 2010 the Following Were the Account Balances

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    On November 1, 2010, Montana Equipment Repair had the following account balances. During November, the company paid salaries, received cash from customers, received cash for services, purchased equipment and supplies on account, paid creditors, paid rent, paid more salaries, billed customers for services, and received advance payment for future services. Adjustments included updating supplies, accrued salaries, depreciation expense, and unearned revenue accounts.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    47 views1 page

    On November 1 2010 The Following Were The Account Balances

    Uploaded by

    M Bilal Saleem
    On November 1, 2010, Montana Equipment Repair had the following account balances. During November, the company paid salaries, received cash from customers, received cash for services, purchased equipment and supplies on account, paid creditors, paid rent, paid more salaries, billed customers for services, and received advance payment for future services. Adjustments included updating supplies, accrued salaries, depreciation expense, and unearned revenue accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    On November 1 2010 the following were the account

    balances
    On November 1, 2010, the following were the account balances of Montana Equipment
    Repair.During November the following summary transactions were completed.Nov. 8 Paid
    $1,220 for salaries due employees, of which $600 is for November and $620 is for October
    salaries payable.10 Received $1,500 cash from customers in payment of account.12 Received
    $1,700 cash for services performed in November.15 Purchased store equipment on account
    $4,000.17 Purchased supplies on account $1,300.20 Paid creditors $2,500 of accounts payable
    due.22 Paid November rent $450.25 Paid salaries $1,000.27 Performed services on account
    and billed customers for services provided $900.29 Received $550 from customers for services
    to be provided in the future.Adjustment data:1. Supplies on hand are valued at $1,100.2.
    Accrued salaries payable are $480.3. Depreciation for the month is $250.4. Unearned service
    revenue of $300 is earned.Instructions(a) Enter the November 1 balances in the ledger
    accounts. (Use T accounts.)(b) Journalize the November transactions.(c) Post to the ledger
    accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries Expense,
    and 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 classified balance sheet at November30.
    View Solution:
    On November 1 2010 the following were the account balances
    SOLUTION-- http://expertanswer.online/downloads/on-november-1-2010-the-following-were-the-
    account-balances/

    See Answer here expertanswer.online


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