Julia Dumars is a licensed CPA. During the first month of operations of her business, Swifty Corporation, the following events and transactions occurred. May 1 Stockholders invested \$21,300 cash in exchange for common stock. 2 Hired a secretary-recentionist at a satary of $2,800 per month. 3 Purchased $1,500 of supplies on account from Vincent Supply Company. 7 Paid office rent of $760 cash for the month. 11 Completed a tax assignment and biffed cllent $2,900 for services performed. 12. Recelved $2,900 advance on a management consulting engagement. 17. Recelved exch of $1:800 for services performed for Orville Co 31 Paid secretary receptionist $2,800 salary for the month. 31 Paid 40 ss of balance due Vincent Supply Company. Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Recelvable, No. 126 Supplies, No. 201 Accounts Payable. No, 209 Unearned Service Revenue, No. 311 Common Stock. No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rentepentre \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline May 1 & Cach & 21300 & \\ \hline & Cominonstock & & \\ \hline May 2 & & i & \\ \hline May3 O & Supplies & 1500 & \\ \hline & Accounts Pavable & & \\ \hline Mar? ? & Rent Expense & 760 & \\ \hline & & & \\ \hline & & & \\ \hline Mar 11. & Canh & 2000 & \\ \hline & Unearned Service Revenie & & \\ \hlinesax17 & Cost & 1600 & \\ \hline & & & \\ \hline \end{tabular} May 11 Cath Unearned Service Revenue Gav 17 . Cish Senvice Roverue Mar31 5olaries and Whes Expense Canh Mar31 Accounts Payable Cots Maya1 Accounts Pryatie Caith (Daid creditor on account) Julia Dumars is a licensed CPA. During the first month of operations of her business, Swifty Corporation, the following events and transactions occurred. May 1 Stockholders invested \$21,300 cash in exchange for common stock. 2 Hired a secretary-recentionist at a satary of $2,800 per month. 3 Purchased $1,500 of supplies on account from Vincent Supply Company. 7 Paid office rent of $760 cash for the month. 11 Completed a tax assignment and biffed cllent $2,900 for services performed. 12. Recelved $2,900 advance on a management consulting engagement. 17. Recelved exch of $1:800 for services performed for Orville Co 31 Paid secretary receptionist $2,800 salary for the month. 31 Paid 40 ss of balance due Vincent Supply Company. Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Recelvable, No. 126 Supplies, No. 201 Accounts Payable. No, 209 Unearned Service Revenue, No. 311 Common Stock. No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rentepentre \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline May 1 & Cach & 21300 & \\ \hline & Cominonstock & & \\ \hline May 2 & & i & \\ \hline May3 O & Supplies & 1500 & \\ \hline & Accounts Pavable & & \\ \hline Mar? ? & Rent Expense & 760 & \\ \hline & & & \\ \hline & & & \\ \hline Mar 11. & Canh & 2000 & \\ \hline & Unearned Service Revenie & & \\ \hlinesax17 & Cost & 1600 & \\ \hline & & & \\ \hline \end{tabular} May 11 Cath Unearned Service Revenue Gav 17 . Cish Senvice Roverue Mar31 5olaries and Whes Expense Canh Mar31 Accounts Payable Cots Maya1 Accounts Pryatie Caith (Daid creditor on account)
