Judi Dench is a licensed architect. During the first month of the operation of her company, Judi Dench, Inc., the following events and transactions occurred.
1 - Stockholders invested $25,000 cash in exchange for common stock.
1 - Hired a secretary-receptionist at a salary of $300 per week payable monthly.
2 - Paid office rent for the month $800.
3 - Purchased architectural supplies on account from Halo Company $1,500.
10 - Completed blueprints on a carport and billed client $900 for services.
11 - Received $500 cash advance from R.Welk for the design of a new home.
20 - Received $1,500 cash for services completed and delivered to P. Donahue.
30 - Paid secretary-receptionist for the month $1,500.
30 - Paid $600 to Halo Company for accounts payable due.
Judi uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 205 Unearned Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries Expense, and No. 729 Rent Expense.© BrainMass Inc. brainmass.com October 24, 2018, 8:45 pm ad1c9bdddf
Please see the attached file.
1 Journal entries are given on the first sheet for each transaction with a brief explanation. Please note that there will not be any accounting entry fore mere hiring of a secretary on the 1st ...
Excel spreadsheets with journal entries, ledger accounts and a trial balance for Judi Dench's architecture company.
Ingres Designs: Journalize transactions, post to ledger, prepare a trial balance.
See formats provided in attached file.
On July 1, 2006 Leon Cruz established an interior design business, Ingres Designs. During the remainder of the month leon cruz completed the following transactionsrelated to the business.
JULY 1----leon transfered cash from a personal account to an account to be used for business---18,000
paid rent for period july 5--to end of month---1,500
purchased a truck for 15,000. paying 5,000 in cash and giving a note payable for the remainder.
purchased equipment on account---4,500.00
purchased supplies for cash----975.00
paid annual premiums on insurance----3,000
recieved cash for job completed----4,100.00
paid creditor a portion of the amount owed for equipment purchased on july 13---2,400.00
recorded jobs completed on account and sent invoices to customers---6,100.00
received an invoice for truck expenses to be paid in august 580.00
paid utility expense---950.00
paid miscellaneous expense---315.00
received cash from customer on account---3,420.00
paid wages for employees---2,500.00
withdrew cash for personal use----2,000.00
1. Journalize each transaction in a two column journal refering to the following:
LEON CRUZ, CAPITAL
LEON CRUZ DRAWING
2. post journal to a ledger of for column accounts, inserting appropriate posting references as each item is posted. extend the balances to the appropriate balance columns after each transaction is posted.
Prepare a trial balance for Ingres Designs as of july 31, 2006View Full Posting Details