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This is from the book financial accounting: Reporting, anaylsing and decision making. PSA2.5 Mahon Consultants Pty Ltd opened as licensed architects on 1 April 2015.

This is from the book financial accounting: Reporting, anaylsing and decision making.

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PSA2.5 Mahon Consultants Pty Ltd opened as licensed architects on 1 April 2015. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Shareholders invested $76 500 cash in exchange for shares. 1 Hired a personal assistant at a salary of $5850 per month, payable monthly. 2 Paid office rent for the month, $2850. 3 Purchased drawing supplies on account from Speedy Supplies Ltd, $7650. 10 Completed 3 contract and invoiced client $4050 for services. 11 Received $1650 cash advance from R. Welk for the design of an extension. 20 Received $9450 cash for services completed for P. Donahue. 30 Paid assistant for the month, $5850. 30 Paid $3450 owed to Speedy Supplies Ltd. Mahon Consultants Pty Ltd uses these accounts: Cash (no. 100), Accounts Receivable (no. 110), Supplies (no. 115), Accounts Payable (no. 200), Revenue Received in Advance (no. 209), Share Capital (no. 300), Sen/ice Revenue (no. 400), Salaries Expense (no. 500), and Rent Expense (no. 510). Required a. Journalise the transactions. Include narrations. b. Post to the ledger T accounts. c. Prepare a trial balance on 30 April 2015

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