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P3-5A Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first month of the operation

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Question;Sunflower Architects incorporated as licensed architects on April 1, 2010. Duringthe first month of the operation of the business, these events and transactions occurred:Apr. 1 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 $900.3 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 $1,500.30 Paid $300 to Spring Green Company for accounts payable due.The company uses these accounts: Cash, Accounts Receivable, Supplies, AccountsPayable, Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, andRent Expense.Instructions(a) Journalize the transactions, including explanations.(b) Post to the ledger T accounts.(c) Prepare a trial balance on April 30, 2010.

 

Paper#44021 | Written in 18-Jul-2015

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