Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first monthof 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, Accounts Payable,Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and Rent Expense. Hint:Journalize transactions, post, and prepare a trial balance. (SO 3, 5, 6, 7, 8) Instructions (a)Journalize the transactions, including explanations. (b) Post to the ledger T accounts. (c) Prepare atrial balance on April 30, 2010. Cash $15,100 Tot. trial balance $20,000
This is the trial balance of Slocombe Company on September 30so on...
ACC 290 Week 2 Learning Team Reflection
the objectives for Week One. How do they relate to the practice of accounting and its usesin business?Identify the four basic financial statements.Classify transactions using the rules of debit and credit.Journalize basic transactions.