On November 1, 2022, the account balances of Blue Spruce Corp. were as follows.No.DebitsNo.Credits101Cash$2,880154Accumulated Depreciation-Equipment$2,400112Accounts Receivable5,100201Accounts Payable3,120126Supplies2,160209Unearned Service Revenue1,440153Equipment14,400212Salaries and Wages Payable840311Common Stock12,000320Retained Earnings4,740$24,540$24,540During November, the following summary transactions were completed.Nov. 8Paid $2,040 for salaries due employees, of which $840 is for October salarles.10Received $4.096 cash from customers on account.12Received $3,720 cash for services performed in November.15Purchased equipment on account $2,400.17Purchased supplies on account $840.20Paid creditors on account $3,240.22Paid November rent $480.25Paid salaries $2,040.27Performed services on account and billed customers $2,280 for these services.29Recelved $720 from customers for future service. CashNo. 101Date IxplanationRefDebitCreditBalanceNow 1lanceAccounts RecelvalbleNo, 112Date ixplanationDebBalaneHedCredaNow 1 BlceSppliesNo. 126DateExplanationRetDeCredeBalanceNteleeFquipmentN. IDate ExplanatienRelDebCredalnceNov1 telarceAccumulated DepredationEquipmentNo. I54Date ExplanatkonHefDebiCredeBalonceNov.1BalanceNo. 201Accnts PayableDate ExplanationRelDebitCreditlanceNov. BalarceUneamed Service RevenueNo. 209Date ExplanationRelDebitCreditBalanceNov 1BalbnceSalaries and Wages PayableNo. 212Date ExplanationRefDebitCreditBalanceNov. 1BalanceCommon StockNo. 311Date ExplanationRelDebitCreditHalanceNov. 1BalanceRetained EarningsNo. 320tion

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Description: On November 1, 2022, the account balances of Blue Spruce Corp. were as follows.No.DebitsNo.Credits101Cash$2,880154Accumulated Depreciation-Equipment$2,400112Accounts Receivable5,100201Accounts Payable3,120126Supplies2,160209Unearned Service Revenue1

The T-accounts are prepared to post the transactions from the Journal book of the business.

Business

Accounting

On November 1,2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4.740 $24,540 $24,540

On November 1,2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4.740 $24,540 $24,540

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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