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SOURCES Problem 2-2A Julia Dumars is a licensed CPA. During the first month of operations of her business, Larkspur, Inc., the following events and transactions
SOURCES Problem 2-2A Julia Dumars is a licensed CPA. During the first month of operations of her business, Larkspur, Inc., the following events and transactions occurred. May 1 Stockholders invested $21,700 cash in exchange for common stock. 2 Hired a secretary-receptionist at a salary of $1,100 per month 3 Purchased $2,100 of supplies on account from Vincent Supply Company. 7 Paid office rent of $900 cash for the month. 11 Completed a taxassignment and billed client $2,500 for services performed. 12 Received $3,200 advance on a management consulting engagement 17 Received cash of $1,800 for services performed for Orville Co. 31 Pald secretary receptionist $1,100 salary for the month. 31 Dald 50% of balance due Vincent Supply Company sults by Study Julia Dumars uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearne NO. 311 Common Stock, No. 400 Service Revenue, NO. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record Journal order presented in the problem. If no entry is required select "NO Entry for the account titles and water for the amounts.) ment Supplies No. 126 Date Explanation Ref. Debit Credit Balance Accounts Payable No. 201 Date Explanation Ref. Debit Credit Balance Unearned Service Revenue Date No. 209 Explanation Ref. Debit Credit Balance Common Stock Date Explanation No. 311 Ref. Debit Credit Balance 31 Service Revenue Date Explanation Ref. No. 400 Debit ere to search Credit Balance
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