Required information [The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $20,000 on account. 2. September 8 Purchase painting equipment for $21,000 cash. 3. September 12 Purchase office supplies on account for $3,500. 4. September 15 Pay employee salaries of $4,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,000 cash. 6. September 22 Pay office rent of $5,400 for the current month. 7. September 26 Receive $15,000 from customers in (1) above. 8. September 30 Receive cash of $6,000 in advance from a customer who plans to have his house painted in the following month. Required: 1. Record each transaction. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No Credit Date September 03 General Journal Accounts Receivable Service Revenue Debit 20,000 20,000 September 08 Equipment 21,000 Cash 21,000 September Supplies 12 Accounts Payable 3,500 3,500 September 15 Salaries Expense 4,200 Cash 4,200 be 19 1,000 Advertising Expense Cash 1,000 September 22 5,400 Rent Expense Cash 5,400 September 15,000 26 Cash Accounts Receivable 15,000 September Cash 6,000 30 Deferred Revenue 6,000 Required information [The following information applies to the questions displayed below.] Boilermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $20,000 on account. 2. September 8 Purchase painting equipment for $21,000 cash. 3. September 12 Purchase office supplies on account for $3,500. 4. September 15 Pay employee salaries of $4,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,000 cash. 6. September 22 Pay office rent of $5,400 for the current month. 7. September 26 Receive $15,000 from customers in (1) above. 8. September 30 Receive cash of $6,000 in advance from a customer who plans to have his house painted in the following month. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $46,100; Accounts Receivable, $1,700; Supplies, $500; Equipment, $7,400; Accounts Payable, $1,200; Common Stock, $25,000; Retained Earnings, $29,500. All other accounts had a beginning balance of zero. Required information [The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $20,000 on account. 2. September 8 Purchase painting equipment for $21,000 cash. 3. September 12 Purchase office supplies on account for $3,500. 4. September 15 Pay employee salaries of $4,200 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,000 cash. 6. September 22 Pay office rent of $5,400 for the current month. 7. September 26 Receive $15,000 from customers in (1) above. 8. September 30 Receive cash of $6,000 in advance from a customer who plans to have his house painted in the following month. 3. Prepare a trial balance. BOILERMAKER HOUSE PAINTING COMPANY Trial Balance Accounts Debit Credit Cash $ 18,500 Accounts Receivable 1,700 Supplies 3,500 Equipment 21,000 Accounts Payable 1,200 Deferred Revenue Common Stock 25,000 Retained Earnings 29,500 Service Revenue Salaries Expense 4,200 Advertising Expense 1,000 Rent Expense 5,400 Totals $ 51,800 $ 59,200
