https://file.aiquickdraw.com/mathbot/file/1729289313946fpuv8fey.jpg

The image provided shows the financial information and summary transactions for "Wildhorse Equipment Repair" as of November 1, 2025. It includes a list of account balances and transactions for November.

### 1. November 1 Balances in the Ledger:
You are asked to enter the November 1 balances into ledger accounts (T-accounts). Here is a breakdown of the accounts:

#### Debit Balances:
- **Cash:** $3,420
- **Accounts Receivable:** $3,070
- **Supplies:** $1,730
- **Equipment:** $10,610

#### Credit Balances:
- **Accumulated Depreciation—Equipment:** $520
- **Accounts Payable:** $2,910
- **Unearned Service Revenue:** $400
- **Salaries and Wages Payable:** $780
- **Common Stock:** $10,610
- **Retained Earnings:** $3,610

### 2. November Transactions to Record:
The transactions during November involve payments, receipts, and various operations. Here's a breakdown of these transactions:

- **Nov. 8:** Paid $1,220 for salaries (split as $440 for November salaries and $780 for October salaries, reducing both cash and salaries payable).
- **Nov. 10:** Received $1,840 cash from customers in payment of accounts (decrease in Accounts Receivable, increase in Cash).
- **Nov. 12:** Received $3,780 cash for services performed in November (increase in Cash and Service Revenue).
- **Nov. 15:** Purchased store equipment on account for $3,950 (increase in Equipment, increase in Accounts Payable).
- **Nov. 17:** Purchased supplies on account for $1,400 (increase in Supplies, increase in Accounts Payable).
- **Nov. 20:** Paid creditors $2,540 for Accounts Payable (decrease in Accounts Payable, decrease in Cash).
- **Nov. 22:** Paid November rent of $530 (decrease in Cash, increase in Rent Expense).
- **Nov. 25:** Paid salaries of $1,040 (decrease in Cash, increase in Salaries Expense).
- **Nov. 27:** Performed services on account worth $950 (increase in Accounts Receivable, increase in Service Revenue).
- **Nov. 29:** Received $800 from customers for future services (increase in Cash, increase in Unearned Service Revenue).

If you want to start entering these into the T-accounts or need help with that process, let me know!

### Would you like further details on how to record these transactions into T-accounts?

Here are 5 related questions to expand on:
1. How are T-accounts structured, and how would you record these transactions step by step?
2. What would be the journal entries for each of the November transactions?
3. How do you calculate the ending balance of each account after November?
4. What impact do these transactions have on the trial balance?
5. What is the effect on financial statements after posting these transactions?

#### Tip:
When working with T-accounts, always balance each account after posting the transactions to verify that debits equal credits.

Enter the November 1 balances in the ledger accounts (T-accounts) and record the November transactions for Wildhorse Equipment Repair.

Learn how to enter account balances into ledger accounts (T-accounts) and record the transactions for November. This guide covers debit and credit rules, key formulas like 'Assets = Liabilities + Equity', and the effect of various transactions on the company's financial position. Suitable for undergraduate students in accounting or finance.

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