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Julia Dumars is a licensed CPA. During the first month of operations of her business, Swifty Corporation , the following events and transactions occurred. May
Julia Dumars is a licensed CPA. During the first month of operations of her business, Swifty Corporation, the following events and transactions occurred.
Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, 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 Rent Expense.
0.67/1 III Question 13 of 13 Prepare a trial balance on May 31, 2022. Swifty Corporation Trial balance May 31, 2022 Debit Credit Totals May 1 | Stockholders invested $21,300 cash in exchange for common stock. | |
2 | Hired a secretary-receptionist at a salary 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 billed client $2,900 for services performed. | |
12 | Received $2,900 advance on a management consulting engagement. | |
17 | Received cash of $1,800 for services performed for Orville Co. | |
31 | Paid secretary-receptionist $2,800 salary for the month. | |
31 | Paid 40% of balance due Vincent Supply Company. |
Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, 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 Rent Expense.
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