Question: 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 $21,402 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $446 per week, payable monthly. 2 Paid office rent for the month $1,070. 3 Purchased architectural supplies on account from Burlington Company $1,546. 10 Completed blueprints on a carport and billed client $2,259 for services. 11 Received $832 cash advance from J. Madison to design a new home. 20 Received $3,329 cash for services completed and delivered to M. Svetlana. 30 Paid secretary-receptionist for the month $1,784. 30 Paid $357 to Burlington Company for accounts payable due. Journalize the transactions. Post to the ledger T-accounts.
Question: 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 $21,402 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $446 per week, payable monthly. 2 Paid office rent for the month $1,070. 3 Purchased architectural supplies on account from Burlington Company $1,546. 10 Completed blueprints on a carport and billed client $2,259 for services. 11 Received $832 cash advance from J. Madison to design a new home. 20 Received $3,329 cash for services completed and delivered to M. Svetlana. 30 Paid secretary-receptionist for the month $1,784. 30 Paid $357 to Burlington Company for accounts payable due. Journalize the transactions. Post to the ledger T-accounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question:
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 $21,402 cash in exchange for common
stock of the corporation.
1 Hired a secretary-receptionist at a salary of $446 per week, payable
monthly.
2 Paid office rent for the month $1,070.
3 Purchased architectural supplies on account from Burlington
Company $1,546.
10 Completed blueprints on a carport and billed client $2,259 for
services.
11 Received $832 cash advance from J. Madison to design a new
home.
20 Received $3,329 cash for services completed and delivered to M.
Svetlana.
30 Paid secretary-receptionist for the month $1,784.
30 Paid $357 to Burlington Company for accounts payable due.
Journalize the transactions. Post to the ledger T-accounts.
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