Respuesta :
Answer:
November 1 Issue common stock in exchange for $11,000 cash.
Dr Cash 11,000
Cr Common stock 11,000
November 2 Purchase equipment with a long-term note for $1,500 from Spartan Corporation.
Dr Equipment 1,500
Cr Notes payable 1,500
November 4 Purchase supplies for $1,100 on account.
Dr Supplies 1,100
Cr Accounts payable 1,100
November 10 Provide services to customers on account for $7,000.
Dr Accounts receivable 7,000
Cr Service revenue 7,000
November 15 Pay creditors on account, $1,200.
Dr Accounts payable 1,200
Cr cash 1,200
November 20 Pay employees $1,000 for the first half of the month.
Dr Wages expense 1,000
Cr cash 1,000
November 22 Provide services to customers for $9,000 cash.
Dr Cash 9,000
Cr Service revenue 9,000
November 24 Pay $600 on the note from Spartan Corporation.
Dr Notes payable 600
Cr Cash 600
November 26 Collect $5,000 on account from customers.
Dr Cash 5,000
Cr Accounts receivable 5,000
November 28 Pay $1,200 to the local utility company for November gas and electricity.
Dr Utilities expense 1,200
Cr Cash 1,200
November 30 Pay $3,000 rent for November.
Dr Rent expense 3,000
Cr Cash 3,000
Cash Common stock
debit credit debit credit
1,200 5,000
11,000 11,000
1,200 16,000
1,000
9,000
600
5,000
1,200
3,000
19,200
Accounts receivable Supplies
debit credit debit credit
400 500
7,000 1,100
5,000 1,600
2,400
Equipment Accounts Payable
debit credit debit credit
7,400 1,000
1,500 1,100
8,900 1,200
900
Notes Payable Service revenue
debit credit debit credit
2,000 7,000
1,500 9,000
600 16,000
2,900 6,000 closed
Retained Earnings Wages expense
debit credit debit credit
1,500 1,000
10,800 closed 1,000
12,300
Utilities expense Rent expense
debit credit debit credit
1,200 3,000
closed 1,200 closed 3,000
net income for the month = $16,000 - $5,200 = $10,800, so retained earnings should increase by $10,800
