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Received $39,000 cash and gave capital to Sikes. Purchased office supplies, $900, and furniture $1, 800, on account. Performed services for a low firm and
Received $39,000 cash and gave capital to Sikes. Purchased office supplies, $900, and furniture $1, 800, on account. Performed services for a low firm and received $2,000 cash. Paid $24,000 cash to acquire land to be used in operations. Performed services for a hotel and received its promise to pay the $1, 200 within one week. Paid for the furniture purchased on November 4 on account. Paid assistants semimonthly salary, $1, 410. Received cash on account, $1,000. Prepared a design for a school on account, $900. Received $2.100 cash for design services to be performed in December. Received $2, 800 cash for consulting with Plummer & Gordon. Paid $1, 080 cash for a 12-month insurance policy starting on December 1. Paid assistants semimonthly salary, $1, 410. Paid monthly rent expense, $800. Received a bill for utilities, $600 The bill will be paid next month. Sikes withdrew ash of $4,000. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Furniture; Land; Accounts Payable; Utilities Payable; Unearned Revenues; Sikes, Capital; Sikes, withdrawals; Service Revenue; Salaries Expenses; Rent Expense; Utilities Expense. Explanations are not required. Open a T-account for each of the accounts. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal. Prepare the trial balance of Deb Sikes, Designer, as of November 30, 2017
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