Question 6

Lena Fohn is a licensed accountant. During the first month of operations of her business, Marigold Corp., the following events and transactions occurred.

May 1		Shareholders invested 20,222 cash in exchange for ordinary shares.
2		Hired a secretary-receptionist at a salary of 1,098 per month.
3		Purchased 1,500 of supplies on account from Hartig Supply Company.
7		Paid office rent of 838 cash for the month.
11		Completed a tax assignment and billed client 1,926 for services provided.
12		Received 2,605 advance on a management consulting engagement.
17		Received cash of 1,140 for services performed for Lucille Co.
31		Paid secretary-receptionist 1,098 salary for the month.
31		Paid 45% of balance due Hartig Supply Company.

Marigold Corp. uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Share CapitalOrdinary, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense.

Journalize the transactions. (Record entries in the order displayed in the problem statement. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Post to the ledger accounts. (Post the entries into ledger in the order displayed in Part 1.)

Prepare a trial balance on May 31, 2017.