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Problem 2-8A Complete the steps in measurement of externam transactions (LO2-4, 2-5, 2-6) Required information Problem 2-8A Complete the steps in the measurement of external
Problem 2-8A Complete the steps in measurement of externam transactions (LO2-4, 2-5, 2-6)
Required information Problem 2-8A Complete the steps in the measurement of external transactions (LO2-4,2-5, 2-6) [The following information applies to the questions displayed below.) Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Credits Cash $ 4,700 Accounts Receivable 700 Supplies 5,800 Land 9,400 Accounts Payable $ 5,700 Notes Payable 1,200 Common Stock 7,200 Retained Earnings 6,500 Totals $20,600 $20,600 The following transactions occur in September September 1 Provide services to customers for cash, $2,900. September 2 Purchase land with a long-term note for $4,600 from Crimson Company. September 4 Receive an invoice for $320 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $4,200. September 10 Purchase supplies on account for $1,000. September 13 Pay $2,200 to Crimson Company for a long-term note. September 18 Receive $3,200 from customers on account. September 20 Pay $720 for September's rent. September 30 Pay September's utility bill of $1,100. September 30 Pay employees $2,200 for salaries for the month of September September 30 Pay a cash dividend of $1,000 to shareholders. Problem 2-8A Part 1 2.&3. Post each transaction to the appropriate Taccounts and calculate the balance of each account at September 30 Hint Be sure to include the balance at the beginning of September in each T-account.) Accounts Receivable Beg Bal Beg B End. Bal End Bal Supplies Land Beg Bal Beg Bal End Ball End Bal Accounts Payable Notes Payable Beg Bal Beg Bal End Bal End Bal Common Stock Betained Earnings Beg Bail Beg Bal End. Bal End Bal Dividends Service Revenue Beg Bal Beg Bal End Bal End. Bal Salaries Expense Reet Expense Beg Bal Beg Bal End Bal End Bal Advertising Expense Utilities Expense Beg Bal Beg Bal End. Bol End Bal Login - CAS - Centr... + Google Docs My Drive - Google... Activity Stream Problem 2-8A Part 4 4. Prepare a trial balance as of September 30. PIRATES INCORPORATED Trial Balance September 30 Accounts Debit Credit Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Advertising Expense Utilities Expense Totals $ 0 $ 0 Step by Step Solution
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