This Website Has Been Moved To A New Address

Loading

P3-5A Sunflower Architects incorporated as licensed architects on April 1, 2010

Price: $3.99


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

No comments:

Post a Comment