Pina Colada 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 $ 26,910 cash in exchange for common stock of the corporation.1 Hired a secretary-receptionist at a salary of $ 561 per week, payable monthly.2 Paid office rent for the month $ 1,345.3 Purchased architectural supplies on account from Burmingham Company $ 1,943.10 Completed blueprints on a carport and billed client $ 2,840 for services.11 Received $ 1,046 cash advance from M. Jason to design a new home.20 Received $ 4,186 cash for services completed and delivered to S. Melvin.30 Paid secretary-receptionist for the month $ 2,244.30 Paid $ 448 to Burmingham Company for accounts payable due.Please solve all parts & do not skip if questions contact my instagram:@fp.juanpasyp Post to the ledger T-accounts. (Post entries in the order of journalentries presented in the question)Cash4/14/204,1864/21345/3022444/111.046448)Bal36,179Accounts ReceivableV102.840Bal.2840Supplies4/3Bal.1943Accounts Payable4/31.9431:30442BalUnearned Service Revenue4/111.046Bal.1046Common Stock4/126,910Bal.26.910Service Revenue4/102.8404/20186Bal7:026Salaries and Wages Expense4/302.244Bal.2244Rent Expense4/2 VBal V1345>>

The question is based on the concept of Business Transaction Analysis.

Answered: Pina Colada Architects incorporated as…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pina Colada 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 $ 26,910 cash in exchange for common stock of the corporation.
1		Hired a secretary-receptionist at a salary of $ 561 per week, payable monthly.
2		Paid office rent for the month $ 1,345.
3		Purchased architectural supplies on account from Burmingham Company $ 1,943.
10		Completed blueprints on a carport and billed client $ 2,840 for services.
11		Received $ 1,046 cash advance from M. Jason to design a new home.
20		Received $ 4,186 cash for services completed and delivered to S. Melvin.
30		Paid secretary-receptionist for the month $ 2,244.
30		Paid $ 448 to Burmingham Company for accounts payable due.