Problem 4-7A (Part Level Submission)

Problem 4-7A (Part Level Submission) On November 1, 2017, the following were the account balances of Soho Equipment Repair Debit $3,430 3,110 1,760 10,640 Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings 500 2,940 400 820 10,640 3,640 $18,940 $18,940 During November, the following summary transactions were completed Nov. Paid $1,220 for salaries due employees, of which $400 is for November and $820 is for October salaries 8 10 12 15 17 20 22 25 27 29 payable Received $1,850 cash from customers in payment of account. Received $3,800 cash for services performed in November Purchased store equipment on account $4,010 Purchased supplies on account $1,400 Paid creditors $2,510 of accounts payable due Paid November rent $510 Paid salaries $1,010 Performed services on account worth $990 and billed customers Received $800 from customers for services to be performed in the future (g1) Prepare an income statement for November 30. SOHO EQUIPMENT REPAIR Income Statement