Joel Blocker recorded the following transactions during the month of April.
Apr. 3 Cash 1,970
Service Revenue 1,970
16 Rent Expense 410
Cash 410
20 Salaries and Wages Expense 450
Cash 450
Post these entries to the Cash account of the general ledger to determine the ending balance in cash. The beginning balance in cash on April 1 was $3,370. (Post entries in the order of journal entries presented in the question.)
Stockholders invested $23,584 cash in exchange for common stock of the corporation.
Problem 3-5A
Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $23,584 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $491 per week, payable monthly.
2 Paid office rent for the month $1,179.
3 Purchased architectural supplies on account from Burlington Company $1,703.
10 Completed blueprints on a carport and billed client $2,489 for services.
11 Received $917 cash advance from J. Madison to design a new home.
20 Received $3,669 cash for services completed and delivered to M. Svetlana.
30 Paid secretary-receptionist for the month $1,964.
30 Paid $393 to Burlington Company for accounts payable due.
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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.)
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Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.)
Prepare a trial balance on April 30, 2014.