Exercise 3-18A (Static) Recording events in T-accounts and preparing a trial balance LO 3-1, 3-3\ The following events apply to Equipment Services Incorporated in its first year of operation:\ Acquired

$60,000

cash from the issue of common stock.\ Received an

$8,200

cash advance for services to be provided in the future.\ Purchased

$2,000

of supplies on account.\ Earned

$36,000

of service revenue on account.\ Incurred

$16,100

of operating expenses on account.\ Collected

$28,500

cash from accounts receivable.\ Made a

$15,100

payment on accounts payable.\ Paid a

$2,000

cash dividend to the stockholders.\ Recognized

$1,600

of supplies expense.\ o. Recorded

$3,100

of accrued salaries expense.\ Recognized

$3,100

of revenue for services provided to the customer in Event 2.

Exercise 3-18A (Static) Recording events in T-accounts and preparing a trial balance LO 3-1, 3-3 The following events apply to Equipment Services Incorporated in its first year of operation: 1. Acquired $60,000 cash from the issue of common stock. 2. Received an $8,200 cash advance for services to be provided in the future. 3. Purchased $2,000 of supplies on account. 4. Earned $36,000 of service revenue on account. 5. Incurred $16,100 of operating expenses on account. 5. Collected $28,500 cash from accounts receivable. 7. Made a $15,100 payment on accounts payable. 8. Paid a $2,000 cash dividend to the stockholders. 9. Recognized $1,600 of supplies expense. o. Recorded $3,100 of accrued salaries expense. 1. Recognized $3,100 of revenue for services provided to the customer in Event 2