Sye Chase started and operated a small family architectural firm in Year 1 The firm was affected by two events (1) Chase provided $17,300 of services on account, and (2) he purchased $4,400 of supplies on account There were $850 of supplies on hand as of December 31, Year 1 I got A E done, but I am unsure how to do B C A) Accounts Receivable Supplies Beg Bal Beg Bal a1 17,300 a2 4,400 3,550 b End Bal 17,300 End Bal 850 Accounts Payable Retained Earnings Beg Bal Beg Bal 4,400 a2 cl 3,550 17,300 cl End Bal 4,400 End Bal 13,750 Service Revenue Supplies Expense Beg Bal Beg Bal cl 17,300 17,300 a1 b 3,550 3,550 cl End Bal 0 End Bal 0 B) No Date General Journal Debit Credit 1 Dec 31 17,300 2 Dec 31 No Transaction Recorded C) CHASE ARCHITECTURAL SERVICES Effect of Transactions on the Financial Statements for Year 1 No Balance Sheet Income Statement Statement of Cash Flows Assets Liabilities Stockholders' Equity Accounts Receivable Supplies Accounts Payable Common Stock Retained Earnings Revenue Expense Net Income a1 a2 b Bal 0 0 0 0 0 0 0 0 0 NC E) CHASE ARCHITECTURAL SERVICES Post Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Accounts receivable $17,300 Supplies 850 Accounts payable 4,400 Retained earnings 13,750 Totals $18,150 $18,150

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Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $17,300 of

Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $17,300 of services on account, and (2) he purchased $4,400 of supplies on account. There were $850 of supplies on hand as of December 31, Year 1.

I got A & E done, but I am unsure how to do B & C.

Accounts Receivable				Supplies
Beg. Bal.				Beg. Bal.
a1.	17,300			a2.	4,400	3,550	b.

End. Bal.	17,300			End. Bal.	850

Accounts Payable				Retained Earnings
Beg. Bal.				Beg. Bal.
		4,400	a2.	cl	3,550	17,300	cl

End. Bal.		4,400		End. Bal.		13,750

Service Revenue				Supplies Expense
Beg. Bal.				Beg. Bal.
cl	17,300	17,300	a1.	b.	3,550	3,550	cl

End. Bal.		0		End. Bal.	0

No	Date	General Journal	Debit
1	Dec 31		17,300

2	Dec 31	No Transaction Recorded

CHASE ARCHITECTURAL SERVICES

Effect of Transactions on the Financial Statements for Year 1

No.

Balance Sheet

Income Statement

Statement of Cash Flows

Assets

Liabilities

Stockholders' Equity

Accounts Receivable

Supplies

Accounts Payable

Common Stock

Retained Earnings

Revenue

Expense

Net Income

a1.

a2.

Bal.

CHASE ARCHITECTURAL SERVICES
Post-Closing Trial Balance
December 31, Year 1
Account Titles	Debit	Credit
Accounts receivable	$17,300
Supplies	850
Accounts payable		4,400
Retained earnings		13,750

Totals	$18,150	$18,150