Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation
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Question:
Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred:
Journalize the transactions
Post to the ledger T-accounts.
Prepare a trial balance on April 30, 2014.
Apr. 1 | Stockholders invested $18,000 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 Burlington Company $1,300. |
10 | Completed blueprints on a carport and billed client $1,900 for services. |
11 | Received $700 cash advance from J. Madison to design a new home. |
20 | Received $2,800 cash for services completed and delivered to M. Svetlana. |
30 | Paid secretary-receptionist for the month $1,500. |
30 | Paid $300 to Burlington Company for accounts payable due |
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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