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PLEASE, PAY ATTENTION. THE OTHER EXERCISES POSTED HERE, THE AMOUNTS ARE DIFFERENT FROM THIS ONE. Sanlucas, Inc., provides home inspection services to its clients. The
PLEASE, PAY ATTENTION. THE OTHER EXERCISES POSTED HERE, THE AMOUNTS ARE DIFFERENT FROM THIS ONE.
Sanlucas, Inc., provides home inspection services to its clients. The following is the companys trial balance dated June 1, current year.
SANLUCAS, INC. TRIAL BALANCE JUNE 1, CURRENT YEAR | ||||
Cash | $ | 6,120 | ||
Accounts receivable | 3,120 | |||
Inspection supplies | 960 | |||
Accounts payable | $ | 1,020 | ||
Notes payable | 2,400 | |||
Dividends | 720 | |||
Capital stock | 3,600 | |||
Retained earnings | 2,160 | |||
Inspection revenue | 10,020 | |||
Salaries expense | 5,880 | |||
Advertising expense | 360 | |||
Testing expense | 2,040 | |||
$ | 19,200 | $ | 19,200 | |
Sanlucas engaged in the following transactions in June.
June | 4 | Borrowed cash from Community Bank by issuing a $1,800 note payable. | ||
June | 9 | Collected a $1,920 account receivable from Nina Lesher. | ||
June | 10 | Purchased $180 of inspection supplies on account. | ||
June | 17 | Billed homeowners $1,980 for inspection services. The entire amount is due on July 17. | ||
June | 25 | Paid WLIR Radio $240 for ads to be aired on June 27. | ||
June | 28 | Recorded and paid $1,560 for testing expenses incurred in June. | ||
June | 30 | Recorded and paid June salaries of $1,320. |
Required:
a. Record the company's June transactions in general journal form.
b. Post each entry to the appropriate ledger accounts.
c. Prepare a trial balance dated June 30, current year.
d. Has the company paid all of the dividends that it has declared?
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