Using T-accounts, enter the beginning balances in the general ledger as of April 30, 2025. Cash Supplies Equipment
Using T-accounts, enter the beginning balances in the general ledger as of April 30, 2025. Cash Supplies Equipment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Pharoah Salon Inc.'s general ledger at April 30, 2025, included the following: Cash $5,400, Supplies $540, Equipment $25,920,
Accounts Payable $2,270, Notes Payable $10,800, Unearned Service Revenue (from gift certificates) $1,080, Common Stock $5,400,
and Retained Earnings $12,310. The following events and transactions occurred during May
Paid rent for the month of May $1,080.
Paid $1,190 of the account payable at April 30.
Issued gift certificates for future services for $1,620 cash.
Received $1,300 cash from customers for services performed.
Paid $1,300 in salaries to employees.
Received $860 in cash from customers for services performed.
Customers receiving services worth $760 used gift certificates in payment.
Paid the remaining accounts payable from April 30.
Received $1.080 in cash from customers for services performed.
22 Purchased supplies of $760 on account. All of these were used during the month
Received a bill for advertising for $540. This bill is due on June 13.
Received and paid a utilities bill for $430.
May 1
4
7
8
ISSN 2 2 2 2 2 2 3 3
14
15
15
21
22
25
25
29 Received $1.840 in cash from customers for services performed.
29 Customers receiving services worth $650 used gift certificates in payment.
31 Interest of $50 was paid on the note payable.
31
Paid $1.300 in salaries to employees.
31
Paid income tax payment for the month $160.

Transcribed Image Text:Using T-accounts, enter the beginning balances in the general ledger as of April 30, 2025.
Cash
Supplies
Equipment
Accounts Payable
Notes Payable
Unearned Service Revenue
Common Stock
Retained Earnings
U
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