Question
Required information [The following information applies to the questions displayed below.] Pirates Incorporated had the following balances at the beginning of September. PIRATES INCORPORATED Trial
Required information [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 $ 6,100 Accounts Receivable 2,100 Supplies 7,200 Land 10,800 Accounts Payable $ 7,100 Notes Payable 2,600 Common Stock 8,600 Retained Earnings 7,900 Totals $ 26,200 $ 26,200 The following transactions occur in September. September 1 Provide services to customers for cash, $4,300. September 2 Purchase land with a long-term note for $6,000 from Crimson Company. September 4 Receive an invoice for $460 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,600. September 10 Purchase supplies on account for $1,000. September 13 Pay $3,600 to Crimson Company for a long-term note. September 18 Receive $4,600 from customers on account. September 20 Pay $860 for September's rent. September 30 Pay September's utility bill of $1,800. September 30 Pay employees $3,600 for salaries for the month of September. September 30 Pay a cash dividend of $1,000 to shareholders. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account on September 30. (Hint: Be sure to include the balance at the beginning of September in each T-account.)
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