Financial Accounting P3-5

Financial Accounting P3-5 - P3-5AOn September 1, 2008, the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: P3-5AOn September 1, 2008, the account balances of Rand Equipment Repair, Inc. were as follows.No. DebitsNo. Credits101 Cash$4,880 154 Accumulated Depreciation$1,500112 Accounts Receivable 3,520 201 Accounts Payable 3,400126 Supplies 2,000 209 Unearned Service Revenue 1,400153 Store Equipment 15,000 212 Salaries Payable 500 311 Common Stock15,000320Retained Earnings3,600 $25,400 $25,400During September the following summary transactions were completed.Sept. 8 Paid $1,400 for salaries due employees, of which $900 is for September.10 Received $1,200 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 $1,200.20 Paid creditors $4,500 on account.22 Paid September rent $500....
View Full Document

Page1 / 3

Financial Accounting P3-5 - P3-5AOn September 1, 2008, the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online