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P3-5A Sunflower Architects incorporated as licensed architects on April 1, 2010. During
the first month of the operation of the business, these events and transactions
occurred:
Apr. 1 Stockholders invested $15,000 cash in exchange for common
stock of the corporation.
1 Hired a secretary-receptionist at a salary of $375 per week,
payable monthly.
2 Paid office rent for the month $900.
3 Purchased architectural supplies on account from Spring Green
Company $1,000.
10 Completed blueprints on a carport and billed client $1,500 for
services.
11 Received $500 cash advance from J. Madison to design a new
home.
20 Received $2,300 cash for services completed and delivered to
M. Svetlana.
30 Paid secretary-receptionist for the month $1,500.
30 Paid $300 to Spring Green Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts
Payable, Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and
Rent Expense.
Instructions
(a) Journalize the transactions, including explanations.
(b) Post to the ledger T accounts.
(c) Prepare a trial balance on April 30, 2010
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