Question

Flint Equipment Repair began operating in September 2022. It prepares financial statements at the end of each month. On Novem
During November, the following summary transactions were completed. Paid $1,432 for salaries due employees, of which $708 is
Use the tabular summary below to complete the following. (If a transaction results in a decrease in Assets, Liabilities or St
Assets Cash Accts. Rec. + + Supplies + Equip 11/1 Bal. 3,296 3.430 1.314 Nov. 8 10 12 15 17 20 22 25 27 29
= Liabilities Acc. Depr. Equip + Equip. Accts. Pay. Unearn. Serv. Rev. + 11,800 -590 2,714 472 I
+ Stockholders Equity Sal./Wages Pay. Com. Stock Retained Earnings 724 11,800 3,540 Rev. Exp. I
Retained Earnings 3,540 Rev. Exp. Div. <
0 0
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Answer #1
Date Assets Total Liabilities Stockholders equity Total
Cash Accounts rec. Supplies Equip. Acc. Dep equip. Accounts payable Unearned serv rev. Sal/Wages payable Com. Stock Retained earnings
Rev Exp Div
1-Nov 3296 3430 1314 11800 -590 19250 2714 472 724 11800 3540 19250
8-Nov -1432 0 0 0 0 17818 0 0 -724 0 0 -708 0 17818
10-Nov 2124 -2124 0 0 0 17818 0 0 0 0 0 0 0 17818
12-Nov 4366 0 0 0 0 22184 0 0 0 0 4366 0 0 22184
15-Nov 0 0 0 4248 0 26432 4248 0 0 0 0 0 0 26432
17-Nov 0 0 1534 0 0 27966 1534 0 0 0 0 0 0 27966
20-Nov -2950 0 0 0 0 25016 -2950 0 0 0 0 0 0 25016
22-Nov -574 0 0 0 0 24442 0 0 0 0 0 -574 0 24442
25-Nov -1180 0 0 0 0 23262 0 0 0 0 0 -1180 0 23262
27-Nov 0 1062 0 0 0 24324 0 0 0 0 1062 0 0 24324
29-Nov 885 0 0 0 0 25209 0 885 0 0 0 0 0 25209
Total 4535 2368 2848 16048 -590 25209 5546 1357 0 11800 8968 -2462 0 25209
Other adjustments 0 590 -1550 0 -295 -1255 0 590 574 0 0 -2419* -1255 -1255
Adjusted balance 4535 2958 1298 16048 -885 23954 5546 767 574 11800 8968 -4881 -1255 23954

* 2419=-295-574-1550

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