Bramble Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1   Stockholders invested $23,040 cash in exchange for common stock of the corporation. 1   Hired a secretary-receptionist at a salary of $480 per week, payable monthly. 2   Paid office rent for the month $1,152. 3   Purchased architectural supplies on account from Burmingham Company $1,664. 10   Completed blueprints on a carport and billed client $2,432 for services. 11   Received $896 cash advance from M. Jason to design a new home. 20   Received $3,584 cash for services completed and delivered to S. Melvin. 30   Paid secretary-receptionist for the month $1,920. 30   Paid $384 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.)

A company has three employees, each of whom has been employed since January 1, earns $2,850 per month, and is paid on the last day of each month. On March 1, the following accounts and balances appeared in its ledger. a. Employees' Income Taxes Payable, $1,103.30 (liability for February). b. El Payable, $340.63 (liability for February). c. CPP Payable, $759.82 (liability for February). d. Employees' Medical Insurance Payable, $1,660.00 (liability for January and February). During March and April, the company completed the following related to payroll. Mar. 17 Issued cheque #320 payable to the Receiver General for Canada. The cheque was in payment of the February employee income taxes, El, and CPP amounts due. Mar. 31 Prepared a general journal entry to record the March payroll register, which had the following column totals: EI $141.93 Income Taxes $1,103.30 CPP $379.91 Medical Insurance $415.00 Total Deductions $2,040.14 Net Pay $6,509.86 Office Salaries $2,850.00 Shop Salaries…

Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: Terry Mason invested $32,750 in Succulent Express in exchange for common stock. Paid $4,200 on February 1 for an insurance premium on a one-year policy. Purchased supplies on account, $1,560. Received fees of $48,270 during February. Paid expenses as follows: wages, $22,200; rent, $3,700; utilities, $1,850; and miscellaneous, $2,035. Paid dividends of $8,850. There was $858 of supplies on hand as of February 28. Assume that adjusting entries for usage of supplies and expiration of prepaid insurance were recorded on February 28, 20Y4. Based on the information above, determine the net cash flow from operating activities as of February 28, 20Y4.

Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred: Apr. 1 Stockholders invested $26,100 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $544 per week, payable monthly. Paid office rent for the month $1,305. Purchased architectural supplies on account from Burmingham Company $1,885. 10 Completed blueprints on a carport and billed client $2,755 for services. 11 Received $1,015 cash advance from M. Jason to design a new home. 20 Received $4,060 cash for services completed and delivered to S. Melvin. 30 Paid secretary-receptionist for the month $2,176. 30 Paid $435 to Burmingham Companyfor accounts payable due. (a) 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…

Janet Enterprises incorporated on May 3, current year. The company engaged in the following transactions during its first month of operations. May  3: Issued capital stock in exchange for $950,000 cash. May  4: Paid May office rent expense of $1,800. May  5: Purchased office supplies for $600 cash. The supplies will last for several months. May 15: Purchased office equipment for $12,400 on account. The entire amount is due June 15. May 18: Purchased a company car for $45,000. Paid $15,000 cash and issued a note payable for the remaining amount owed. May 20: Billed clients $120,000 on account. May 26: Declared an $8,000 dividend. The entire amount will be distributed to shareholders on June 26. May 29: Paid May utilities of $500. May 30: Received $90,000 from clients billed on May 20. May 31: Recorded and paid salary expense of $32,000.   A partial list of the account titles used by the company includes the following. Cash                                        Dividends Payable…

The following accounting events apply to Waddell Company’s Year 2 fiscal year:   Jan. 1   Acquired $40,000 cash from the issue of common stock. Feb. 1   Paid $5,100 cash in advance for a one-year lease for office space. Mar. 1   Paid a $1,900 cash dividend to the stockholders. April 1   Purchased additional land that cost $34,000 cash. May 1   Made a cash payment on accounts payable of $17,000. July 1   Received $7,600 cash in advance as a retainer for services to be performed monthly over the coming year. Sept. 1   Sold land for $22,000 cash that had originally cost $22,000. Oct. 1   Purchased $1,150 of supplies on account. Dec. 31   Earned $57,000 of service revenue on account during the year.   31   Received cash collections from accounts receivable amounting to $54,000.   31   Incurred other operating expenses on account during the year that amounted to $12,000.   31   Recognized accrued salaries expense of $4,200.   31   Had $150 of supplies on hand at…

Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company's accounts included the following at June 30: Accounts Payable $82,000 Buildings 610,000 Cash 101,000 Common Stock 280,000 Equipment 170,000 Land 499,000 Notes Payable (long-term) 4,000 Retained Earnings Supplies 1,021,000 7,000 During the month of July, the company had the following activities: 1. Issued 4,000 shares of common stock for $400,000 cash. 2. Borrowed $115,000 cash from a local bank, payable in four years. 3. Bought a building for $188,000; paid $77,000 in cash and signed a three-year note for the balance. 4. Paid cash for equipment that cost $101,000. 5. Purchased supplies for $101,000 on account. Required: 1. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account ba a minus sign.) a. b. C. d. e. Cash Assets Liabilities Accounts Supplies Buildings Equipment Payable Notes Payable (long-term) Stockholders Equity Common Stock 53…

1. A company has a fiscal year-end of December 31: (1) on October 1, $13,000 was paid for a one-year fire insurance policy; (2) on June 30 the company advanced its chief financial officer $11,000; principal and interest at 5% on the note are due in one year; and (3) equipment costing $61,000 was purchased at the beginning of the year for cash.Prepare journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. Equipment costing $61,000 was purchased at the beginning of the year for cash.

Am. 1114.