Accounting Cycle

Rosenthal Decorating Inc. is a commercial painting and decorating contractor that began operations in January 2019. The following transactions occurred during the year:

1. On January 15, Rosenthal sold 500 shares of its common stock to William Hensley for $16,000.
2. On January 24, Rosenthal purchased $720 of painting supplies from Westwood Builders' Supply Company on account.
3. On February 20, Rosenthal paid $720 cash to Westwood Builders' Supply Company for the painting supplies purchased on January 24.
4. On April 25, Rosenthal billed Bultman Condominiums $13,500 for painting and decorating services performed in April.
5. On May 12, Rosenthal received $12,500 from Bultman Condominiums for the painting and decorating work billed in April.
6. On June 5, Rosenthal sent Arlington Builders a $9,500 bill for a painting job completed on that day.
7. On June 24, Rosenthal paid wages for work performed during the preceding week in the amount of $9,600.

Required:

1. Prepare a journal entry for each of the transactions listed above.

Jan. 15		fill in the blank 81b1d6044f8ff99_2
			fill in the blank 81b1d6044f8ff99_4
	(Record issuance of stock)
Jan. 24		fill in the blank 81b1d6044f8ff99_6
			fill in the blank 81b1d6044f8ff99_8
	(Record purchase of supplies on account)
Feb. 20		fill in the blank 81b1d6044f8ff99_10
			fill in the blank 81b1d6044f8ff99_12
	(Record payment of account)
April 25		fill in the blank 81b1d6044f8ff99_14
			fill in the blank 81b1d6044f8ff99_16
	(Record services performed on account)
May 12		fill in the blank 81b1d6044f8ff99_18
			fill in the blank 81b1d6044f8ff99_20
	(Record receipt of payment)
June 5		fill in the blank 81b1d6044f8ff99_22
			fill in the blank 81b1d6044f8ff99_24
	(Record services performed on account)
June 24		fill in the blank 81b1d6044f8ff99_26
			fill in the blank 81b1d6044f8ff99_28
	(Record payment of wages)

2. Post the transactions to T-accounts. If a balance is zero, please enter zero ("0").

Cash
	fill in the blank b7021c048022fb7_2		fill in the blank b7021c048022fb7_4
	fill in the blank b7021c048022fb7_6		fill in the blank b7021c048022fb7_8
End. Bal.	fill in the blank b7021c048022fb7_9

Accounts Receivable
	fill in the blank b7021c048022fb7_11		fill in the blank b7021c048022fb7_13
	fill in the blank b7021c048022fb7_15
End. Bal.	fill in the blank b7021c048022fb7_16

Supplies
	fill in the blank b7021c048022fb7_18
End. Bal.	fill in the blank b7021c048022fb7_19

Accounts Payable
	fill in the blank b7021c048022fb7_21		fill in the blank b7021c048022fb7_23
		End. Bal.	fill in the blank b7021c048022fb7_24

Common Stock
			fill in the blank b7021c048022fb7_26
		End. Bal.	fill in the blank b7021c048022fb7_27

Wages Expense
	fill in the blank b7021c048022fb7_29
End. Bal.	fill in the blank b7021c048022fb7_30

Service Revenue
			fill in the blank b7021c048022fb7_32
			fill in the blank b7021c048022fb7_34
		End. Bal.	fill in the blank b7021c048022fb7_35

3. Prepare a trial balance at June 30, 2019. If an amount box does not require an entry, leave it blank.

Rosenthal Decorating Inc.
Trial Balance
June 30, 2019
Account	Debit	Credit
	$fill in the blank f45d0806b04bfbf_2	$fill in the blank f45d0806b04bfbf_3
	fill in the blank f45d0806b04bfbf_5	fill in the blank f45d0806b04bfbf_6
	fill in the blank f45d0806b04bfbf_8	fill in the blank f45d0806b04bfbf_9
	fill in the blank f45d0806b04bfbf_11	fill in the blank f45d0806b04bfbf_12
	fill in the blank f45d0806b04bfbf_14	fill in the blank f45d0806b04bfbf_15
	fill in the blank f45d0806b04bfbf_17	fill in the blank f45d0806b04bfbf_18
	fill in the blank f45d0806b04bfbf_20	fill in the blank f45d0806b04bfbf_21
	$fill in the blank f45d0806b04bfbf_22	$fill in the blank f45d0806b04bfbf_23