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Category > Accounting Posted 13 Jul 2017 My Price 5.00

Ayala Architects incorporated

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business, these events and transactions occurred:

Apr. 1   Stockholders invested $20,700 cash in exchange for common stock of the corporation.
1   Hired a secretary-receptionist at a salary of $431 per week, payable monthly.
2   Paid office rent for the month $1,035.
3   Purchased architectural supplies on account from Burmingham Company $1,495.
10   Completed blueprints on a carport and billed client $2,185 for services.
11   Received $805 cash advance from M. Jason to design a new home.
20   Received $3,220 cash for services completed and delivered to S. Melvin.
30   Paid secretary-receptionist for the month $1,724.
30   Paid $345 to Burmingham Company for accounts payable due.
 

Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

 

 

 

 

 

 

 

 

 

 

SHOW LIST OF ACCOUNTS

LINK TO TEXT

LINK TO TEXT

LINK TO TEXT

Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.)

Cash

Accounts Receivable

Supplies

Accounts Payable

Unearned Service Revenue

Common Stock

Service Revenue

Salaries and Wages Expense

Rent Expense

 

SHOW LIST OF ACCOUNTS

LINK TO TEXT

LINK TO TEXT

LINK TO TEXT

Prepare a trial balance on April 30, 2017.

AYALA ARCHITECTS INC.
Trial Balance
 

Debit

Credit

$

$

 

$

$

Answers

QuickHelper
(10)
Status NEW Posted 13 Jul 2017 01:07 PM My Price 5.00

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