Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 4,900 Accounts Receivable 900 Supplies 6,000 Land 9,600 Accounts Payable $ 5,900 Notes Payable 1,400 Common Stock 7,400 Retained Earnings 6.700 Totals $21,400 $21,400 The following transactions occur in September September 1 Provide services to customers for cash, 53,100. September 2 Purchase land with a long-tere note for 54,800 from Crimson Company. September 4 Receive an invoice for $340 from the local newspaper for an advertisement that appeared on September 2 September 8 Provide services to customers on account for 54,400. September 10 Purchase supplies on account for $1,200. September 13 Pay $2,400 to Crimson Company for a long-tere note. September 18 Receive $3,400 from customers on account. September 20 Pay $740 for September's rent. September 30 Pay September's utility bill of $1,200. September 30 Pay employees $2,400 for salaries for the month of September. September 30 Pay a cash dividend of $1,100 to shareholders 4. Prepare a trial balance as of September 30 Credit PIRATES INCORPORATED Trial Balance September 30 Accounts Debit Cash $ 4,900 Accounts Receivable 900 Supplies 6.000 Land 9.500 Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Advertising Expense Utilities Expense Totals $ 21.400$ 5.900 1.400 7.400 6,700 21400 PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 4,900 Accounts Receivable 989 Supplies 6,000 Land 9,600 Accounts Payable $ 5,900 Notes Payable 1,400 Common Stock 7,400 Retained Earnings 6,700 Totals $21,400 $21,400 The following transactions occur in September. September 1 Provide services to customers for cash, $3,100. September 2 Purchase land with a long-tere note for $4,800 from Crison Company. September 4 Receive an invoice for $340 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $4,400. September 10 Purchase supplies on account for $1,200. September 13 Pay $2,400 to Crimson Company for long-term note. September 18 Receive 53,400 from customers on account. September 2e Pay 5740 for September's rent. September 30 Pay September's utility bill of $1,200. September 30 Pay employees 52,400 for salaries for the month of September September 30 Pay a cash dividend of 51,100 to shareholders 2.& 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at schtember 30. (Hint Be sure to include the balance at the beginning of September in each T-account) Cash Accounts Receivable Beg Bal Beg Bal End Bal End. Bal Supplies Land Beg Bal Beg Ball End Bal End Bar Accounts Payable Notes Payable Beg Bal Beg Bal End. Bal End. Bal Accounts Payable Notes Payable Beg Bal Beg Bal End Bal End Bal Common Stock Retained Earnings Beg Bal Beg Bali End Bal End Bar Dividends Service Revenue Beg Bal Beg Bar End Bal End Bal Salaries Expense Rent Expense Beg Bail Beg Bal End End. Bal Utilities Expense Advertising Expense Beg B Beg Bal End Bar End Bar
