Journalizing and Posting Transactions Instructions Chart Of Accounts General Journal T-Accounts Instructions Findlay Testing Inc. provides water testing and maintenance services for owners of hot tubs and swimming pools. During September the following transactions occurred: September Transactions: Sept. 1 2 5 8 13 18 Issued common stock for $20,000. Purchased chemical supplies for $1,880 cash. Paid office rent for October, November, and December, the rent is $800 per month Purchased $1,290 of advertising for September on account. Billed the city of Bellefontaine $2,100 for testing the water in the city's outdoor pools during September Received $8,250 from Alexander Blanchard upon completion of overhaul of his swimming pool water circulation system Since the job was completed and collected for on the same day, no bill was sent to Blanchard. Received $835 from the city of Bellefontaine for water testing that was previously billed. Paid $3,970 to hourly employees for work performed in September. 25 30 Required: 1. Prepare a journal entry for each transaction 2. Post the journal ontries to the appropriate accounts Exercise 3-44 (Algorithmic) Revenue Expense and Recognition Carrico Advertising Inc. performs advertising services for several Fortune 500 companies. The following information describes Carrico's activities during 2019. a. At the beginning of 2019, customers owed Carrico $45,800 for advertising services performed during 2018. During 2019, Carrico performed an additional $686,100 of advertising services on account. Carrico collected $708,700 cash from customers during 2019. b. At the beginning of 2019, Carrico had $13,390 of supplies on hand for which it owed suppliers $8,150. During 2019, Carrico purchased an additional $14,600 of supplies on account. Carrico also paid $19,300 cash owed to suppliers for goods previously purchased on credit. Carrico had $2,230 of supplies on hand at the end of 2019. C. Carrico's 2019 operating and interest expenses were $437,600 and $126,500, respectively. Required: 1. Calculate Carrico's 2019 income before taxes. 2. Calculate the ending balance of accounts receivable, the supplies used, and the ending balance of accounts payable. Enter all amounts as positive values Ending balance of accounts receivable Supplies used Ending balance of accounts payable