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 $18,450 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $384 per week, payable monthly. 2 Paid office rent for the month $923. 3 Purchased architectural supplies on account from Burmingham Company $1,333. 10 Completed blueprints on a carport and billed client $1,948 for services. 11 Received $718 cash advance from M. Jason to design a new home. 20 Received $2,870 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $1,536. 30 Paid $308 to Burmingham Company for accounts payable due. Journalize the transactions. Post to the ledger T-accounts. Prepare a trial balance on April 30, 2017.
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 $18,450 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $384 per week, payable monthly. 2 Paid office rent for the month $923. 3 Purchased architectural supplies on account from Burmingham Company $1,333. 10 Completed blueprints on a carport and billed client $1,948 for services. 11 Received $718 cash advance from M. Jason to design a new home. 20 Received $2,870 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $1,536. 30 Paid $308 to Burmingham Company for accounts payable due. Journalize the transactions. Post to the ledger T-accounts. Prepare a trial balance on April 30, 2017.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 $18,450 cash in exchange for common stock of the corporation. | |
| 1 | Hired a secretary-receptionist at a salary of $384 per week, payable monthly. | |
| 2 | Paid office rent for the month $923. | |
| 3 | Purchased architectural supplies on account from Burmingham Company $1,333. | |
| 10 | Completed blueprints on a carport and billed client $1,948 for services. | |
| 11 | Received $718 cash advance from M. Jason to design a new home. | |
| 20 | Received $2,870 cash for services completed and delivered to S. Melvin. | |
| 30 | Paid secretary-receptionist for the month $1,536. | |
| 30 | Paid $308 to Burmingham Company for accounts payable due. |
Journalize the transactions.
Post to the ledger T-accounts.
Prepare a trial balance on April 30, 2017.
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