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. 3 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 indent manually. Record journal entries in the order presented in the problem.)
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. 3 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 indent manually. Record journal entries in the order presented in the problem.)
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 19EB: A business has the following transactions: A. The business is started by receiving cash from an...
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Journal means the book of prime entry where all entries are recorded in different pages.
Ledger means the posting of entries related to one account at one place.
Trial balance means a statement which include all the debit or credit balances of accounts from ledgers and should match as so to pass the test of equality of debit and credit.
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