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 $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.)
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Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.)
Cash
Accounts Receivable
Supplies
Accounts Payable
Unearned Service Revenue
Common Stock
Service Revenue
Salaries and Wages Expense
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