Problem: The account balances of Rijo Equipment Repair Corp. were as follows:
|
No.
|
Debits
|
|
No.
|
Credits
|
|
|
101
|
Cash
|
$ 4,880
|
154
|
Accumulated Depreciation
|
$ 1,500
|
|
112
|
Accounts Receivable
|
3,520
|
201
|
Accounts Payable
|
3,400
|
|
126
|
Supplies
|
2,000
|
209
|
Unearned Service Revenue
|
1,400
|
|
153
|
Store Equipment
|
15,000
|
212
|
Salaries Payable
|
500
|
|
|
|
|
311
|
Common Stock
|
10,000
|
|
|
|
|
320
|
Retained Earnings
|
8,600
|
|
|
|
$25,400
|
|
|
$25,400
|
During September, the following transactions occurred:
Sept. 8 Paid $1,100 for salaries due employees, of which $600 is for September. 10 Received $1200 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 $1,500.
20 Paid creditors $4,500 on account.
22 Paid September rent $500.
25 Paid salaries $1,050.
27 Performed services on account and billed customers for services rendered $700.
29 Received $650 from customers for future service
INSTRUCTIONS:
1. Journalize the data above, prepare an Unadjusted Trial Balance on the Worksheet + finish the whole Worksheet taking the below-mentioned adjustments into account:
A. Supplies on hand $1,700.
B. Accured salaries payable $400
C. Depriciation is $200 per month
D. Unearned service revenue of $1,450 is earned
2. Prepare the Income Statement, the Statement of retained Earnings and the Balance Sheet in their correct formats