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.

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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