on september 1 2012 the following were the account balances 249280

On September 1, 2012, the following were the account balances of Worthington Equipment Repair.

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During September, the following summary transactions were completed.

Sept. 8 Paid $1,100 for salaries due employees, of which $400 is for September and $700 is for August salaries payable.

10 Received $1,500 cash from customers in payment of account.

12 Received $3,400 cash for services performed in September.

15 Purchased store equipment on account $3,000.

Sept. 17 Purchased supplies on account $2,000.

20 Paid creditors $4,500 of accounts payable due.

22 Paid September rent $520.

25 Paid salaries $1,200.

27 Performed services on account and billed customers for services provided $2,040.

29 Received $650 from customers for services to be provided in the future.

Adjustment data:

1. Supplies on hand $1,100.

2. Accrued salaries payable $400.

3. Depreciation $200 per month.

4. Unearned service revenue of $280 earned.

Instructions

(a) Enter the September 1 balances in the ledger T accounts.

(b) Journalize the September transactions.

(c) Post to the ledger T accounts. Use Service Revenue, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense.

(d) Prepare a trial balance at September 30.

(e) Journalize and post adjusting entries.

(f ) Prepare an adjusted trial balance.

(g) Prepare an income statement and a retained earnings statement for September and a classified balance sheet at September 30.

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