Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Indigo Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred:
Indigo Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $22,500 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $469 per week, payable monthly. 2 Paid office rent for the month $1,125. 3 Purchased architectural supplies on account from Burmingham Company $1,625. 10 Completed blueprints on a carport and billed client $2,375 for services. 11 Received $875 cash advance from M. Jason to design a new home. 20 Received $3,500 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $1,876. 30 Paid $375 to Burmingham Company for accounts payable due. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.) Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense Prepare a trial balance on April 30, 2022. INDIGO ARCHITECTS INC. Trial Balance Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started