Problem: On September 1, 2012 the account balances of Moore Equipment Repair were as follows:
|
No.
|
Debit
|
|
|
101
|
Cash
|
$4,880
|
|
112
|
Accounts receivable
|
3,520
|
|
126
|
Supplies
|
2,000
|
|
153
|
Equipment
|
15,000
|
|
|
|
$25,400
|
|
No.
|
Credits
|
|
|
154
|
Accumulated depreciation-Equipment
|
$1,500
|
|
201
|
Accounts Payable
|
3,400
|
|
209
|
Unearned Service Revenue
|
1,400
|
|
212
|
Salaries and Wages Payable
|
500
|
|
301
|
Owner's Capital
|
18,600
|
|
|
|
$25,400
|
During September, the following summary transaction was completed.
Sept. 8: Paid $1,400 for salaries due employees, of which $900 is for September.
10: Received $1,200 cash from customers on accounts.
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 customer for future services.
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 in earned.
Instructions:
(a) Enter the September 1 balances in the ledger accounts.
(b) Journalize the September transaction.
(c) Post to the ledger accounts. Use J1 for the posting reference. Use the following additional counts: No. 407 Services Revenue, No. 615 Depreciation Expenses, No. 631 Supplies Exp No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.