Question 6 of 6 0.83/2 ili View Policies Show Attempt History Current Attempt in Progress Wildhorse is a licensed CPA. During the first month of operations of her business, Wildhorse Co, the following events and transactions occurred. May 1 Stockholders invested $20,100 cash in exchange for common stock 2 Hired a secretary-receptionist at a salary of $2,300 per month. Purchased $2,300 of supplies on account from Vincent Supply Company 7 Paid office rent of $750 cash for the month. 11 Completed a tax assignment and billed client $2,900 for services performed. 12 Received $2.500 advance on a management consulting engagement 17 Received cash of $1,800 for services performed for Orville Ca. 31 Paid secretary-receptionist $2,300 salary for the month. 31 Paid 50% of balance due Vincent Supply Company Julia 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 Common Stock, No.400 Service Revenue, No.726 Salaries and Wages Expense, and No. 729 Rent Expense Your answer is correct. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter ** for the amounts.) 0.83/2 Question 6 of 6 Account Titles and Explanation Cash Debit Credit 20100 Common Stock 20100 No Entry No Entry Supplies 2300 Accounts Payable 2300 Rent Expense 750 Cash 750 Accounts Receivable 2900 Service Revenue 2900 Cash 2500 Unearned Service Revenue 2500 Cash 1800 1800 Service Revenue Salaries and Wages Expense 2300 Cash 2300 (Pald salaries) 0 Accounts Payable 1150 Cash 1150 Question 6 of 6 0.83/2 III Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Date No. 101 Balance Explanation Ref. 31 Debit 22500 Credit May 1 22500 May 2 Ji May 12 J1 May 17 31 May 31 1 J1 23937.30 Debit No. 112 Balance Credit May 31 Accounts Receivable Date Explanation Ref 31 Supplies Date Explanation Ref. J1 Accounts Payable Date Explanation Ref. 31 No. 126 Balance Debit Credit Debit Credit No. 201 Balance J1 Uneared Service Revenue Explanation Ref. J1 No. 209 Balance Date Debit Credit Question 6 of 6 0.83/2 J1 No. 311 Balance Debit Credit Common Stock Date Explanation Ref. 1 Service Revenue Date Explanation Ref. 1 No. 400 Balance Debit Credit 1 No. 726 Salaries and Wages Expense Date Explanation Ref. Debit Credit Balance J1 Rent Expense Date No. 729 Balance Debit Credit Explanation Ref. 31 eTextbook and Media List of Accounts Your answer is partially correct. Prepare a trial balance on May 31, 2020. Wildhorse Co. Trial balance Debit Credit Cash Totals eTextbook and Media List of Accounts Save for Later Attempts: unlimited Submit
