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Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 2072. During the month, Jones Architects completed the
Entries into T accounts and Trial Balance Ken Jones, an architect, organized Jones Architects on April 1, 2072. During the month, Jones Architects completed the following transactions: a. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $28,700. b. Purchased used automobile for $19,000, paying $4,300 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $2,900. d. Paid cash for supplies, $1,380. e. Purchased office and computer equipment on account, $5,700. f. Paid cash for annual insurance policies on automobile and equipment, $1,900. g. Received cash from a client for plans delivered, $7,200. h. Paid cash to creditors on account, $1,660. 1. Paid cash for miscellaneous expenses, $375. j. Received invoice for blueprint service, due in May, $900. k. Recorded fees earned on plans delivered, payment to be received in May, $5,000. 1. Paid salary of assistant, $1,500. m. Paid cash for miscellaneous expenses, $780. <.>
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