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Problem 4-7A: I must 1) Enter the Nov 1 balances into the ledger accounts, 2)Journalize the November transactions, 3)Post above journal entries to the ledger accounts.4) Prepare a trial balance at November 30. 5) journalize the adjusted entires, 6)Post the above adjusting entries. 7) post an adjusted trial balance, 8) post an income statement for nov 30, 9) prepare a retained earnings sheet 10)prepare a classified balance sheet.

For 5) here is the info needed:

1.		Supplies on hand are valued at $1,260.
2.		Accrued salaries payable are $500.
3.		Depreciation for the month is $280.
4.		Services were performed to satisfy $500 of unearned service revenue.

Start of question: On November 1, 2017, the following were the account balances of Soho Equipment Repair.

		Debit				Credit
Cash		$ 3,630		Accumulated DepreciationEquipment		$ 500
Accounts Receivable		3,140		Accounts Payable		3,140
Supplies		1,960		Unearned Service Revenue		400
Equipment		10,840		Salaries and Wages Payable		850
				Common Stock		10,840
				Retained Earnings		3,840
		$19,570				$19,570

During November, the following summary transactions were completed.

Nov. 8		Paid $1,220 for salaries due employees, of which $370 is for November and $850 is for October salaries payable.
10		Received $1,840 cash from customers in payment of account.
12		Received $3,740 cash for services performed in November.
15		Purchased store equipment on account $3,600.
17		Purchased supplies on account $1,400.
20		Paid creditors $2,550 of accounts payable due.
22		Paid November rent $480.
25		Paid salaries $1,160.
27		Performed services on account worth $930 and billed customers.
29		Received $830 from customers for services to be performed in the future.

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