Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Demo 3-6 Journalize transactions, post to T-accounts, and prepare trial balance Ayala Architects incorporated as licensed architects on April 1,20X5. During the first month of

image text in transcribed Demo 3-6 Journalize transactions, post to T-accounts, and prepare trial balance Ayala Architects incorporated as licensed architects on April 1,20X5. During the first month of the operation of the business, these events and transactions occurred: Instructions A. Journalize the transactions, including explanations. B. Post to the ledger T-accounts. C. Prepare a trial balance on April 30, 20 X5. A. \begin{tabular}{lccc} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline 1. Stockholders invested $18,000 cash in exchange for common stock of the corporation & \end{tabular} 1. Stockholders invested $18,000 cash in exchange for common stock of the corporation. Apr. 1 1. Hired a secretary-receptionist at a salary of $375 per week, payable monthly. 1 2. Paid office rent for the month $900. 2 3. Purchased architectural supplies on account from Burmingham Company $1,300. 3 10. Completed blueprints on a carport and billed client $1,900 for services. 10 11. Received $700 cash advance from M. Jason to design a new home. 11 20. Received \$2,800 cash for services completed and delivered to S. Melvin. 20 30. Paid secretary-receptionist for the month $1,500. 30 30. Paid \$300 to Buromingham Company for accounts payable due. 30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting In Health Care Organizations

Authors: David W. Young

3rd Edition

1118653629, 978-1118653623

More Books

Students also viewed these Accounting questions

Question

How do money and capital markets differ? V=96

Answered: 1 week ago

Question

OUTCOME 4 Explain how labour relations differ around the world.

Answered: 1 week ago