Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first month of the operation of the business, these events and transactions occurred:
Stockholders invested $15,000 cash in exchange for common stock of the corporation. 1
Hired a secretary-receptionist at a salary of $375 per week, payable monthly. 2
Paid office rent for the month $900.
Purchased architectural supplies on account from Spring Green Company $1,000. 10
Completed blueprints on a carport and billed client $1,500 for services. 11
Received $500 cash advance from J. Madison to design a new home. 20
Received $2,300 cash for services completed and delivered to M. Svetlana. 30
Paid secretary-receptionist for the month $1,500.
Paid $300 to Spring Green Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and Rent Expense.
(a) Journalize the transactions, including explanations. INES (b) Post to the ledger T accounts. INES
(c) Prepare a trial balance on April 30, 2010. GRISEL
This is the trial balance of Slocombe Company on September 30.
September 30, 2010
The October transactions were as follows.
Received $1,300 in cash from customers for accounts receivable due. 10
Billed customers for services performed $5,100.
Paid employee salaries $1,400.
Performed $600 of services for customers who paid in advance in August. 20
Paid $1,500 to creditors for accounts payable due.
Paid a $300 cash dividend.
Paid utilities $500.
(a) Prepare a general ledger using T...
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