Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Monty Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred:

Monty 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 1 2 3 10 11 20 30 30 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 Apr. 1 Apr. 1 Stockholders invested $22,770 cash in exchange for common stock of the corporation. Hired a secretary-receptionist at a salary of $474 per week, payable monthly. Paid office rent for the month $1,138. Purchased architectural supplies on account from Burmingham Company $1,644. Completed blueprints on a carport and billed client $2,403 for services. Received $885 cash advance from M. Jason to design a new home. Received $3,542 cash for services completed and delivered to S. Melvin. Paid secretary-receptionist for the month $1,896. Paid $379 to Burmingham Company for accounts payable due. Apr. 2 Account Titles and Explanation Cash Common Stock Rent Expense Cash Supplies Accounts Payable Debit 22770 1138 1644 Credit 22770 1138 1644
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Monty 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 \$22,770 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $474 per week, payable monthly. 2 Paid office rent for the month $1,138. 3 Purchased architectural supplies on account from Burmingham Company $1,644. 10 Completed blueprints on a carport and billed client $2,403 for services. 11 Received $885 cash advance from M. Jason to design a new home. 20 Received \$3,542 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $1,896. 30 Paid $379 to Burmingham Company for accounts payable due. Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter ofor 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.) Accounts Payable 1644 Apr.2 Supplies 1644 Accounts Payable 1644 Apr.3 V Accounts Receivable 2403 Service Revenue 2408 Apr. 10 Cash 885 Unearned Service Revenue 385 Apr. 11 Cash 3542 Service Revenue Apr. 20 Salaries and Wages Expense Cash Apr.30 Apr.30 V Accounts Payable Cash Post to the ledger T-accounts. (Post entries in the order of joumal entries presented in the question.) Accounts Receivable Supplies Prepare a trial balance on April 30, 2022

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Enterprise Compliance Risk Management An Essential Toolkit For Banks And Financial Services

Authors: Saloni Ramakrishna

1st Edition

1118550285, 978-1118550281

More Books

Students also viewed these Accounting questions

Question

5.3 Describe four listening styles.

Answered: 1 week ago

Question

Why has Negotiating Women, Inc. focused its attention on women?

Answered: 1 week ago