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Kingbird, Inc.s general ledger at April 30, 2022, included the following: Cash $ 3,700, Supplies $ 370, Equipment $ 17,760, Accounts Payable $ 1,550, Notes
Kingbird, Inc.s general ledger at April 30, 2022, included the following: Cash $ 3,700, Supplies $ 370, Equipment $ 17,760, Accounts Payable $ 1,550, Notes Payable $ 7,400, Unearned Service Revenue (from gift certificates) $ 740, Common Stock $ 3,700, and Retained Earnings $ 8,440. The following events and transactions occurred during May.
May 1 | Paid rent for the month of May $ 740. | |
4 | Paid $ 810 of the account payable at April 30. | |
7 | Issued gift certificates for future services for $ 1,110 cash. | |
8 | Received $ 890 cash from customers for services performed. | |
14 | Paid $ 890 in salaries to employees. | |
15 | Received $ 590 in cash from customers for services performed. | |
15 | Customers receiving services worth $ 520 used gift certificates in payment. | |
21 | Paid the remaining accounts payable from April 30. | |
22 | Received $ 740 in cash from customers for services performed. | |
22 | Purchased supplies of $ 520 on account. All of these were used during the month. | |
25 | Received a bill for advertising for $ 370. This bill is due on June 13. | |
25 | Received and paid a utilities bill for $ 300. | |
29 | Received $ 1,260 in cash from customers for services performed. | |
29 | Customers receiving services worth $ 440 used gift certificates in payment. | |
31 | Interest of $ 40 was paid on the note payable. | |
31 | Paid $ 890 in salaries to employees. | |
31 | Paid income tax payment for the month $ 110. |
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