Required information (The following information applies to the questions displayed below) Boilermaker House Painting Company incurs…
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Question “Required information (The following information applies to the questions displayed below) Boilermaker House Painting Company incurs…”
Required information (The following information applies to the questions displayed below) Boilermaker House Painting Company incurs the following transactions for September. 1. September 3 Paint houses in the current month for $17,000 on account. 2. September 8 Purchase painting equipment for $18,000 cash. 3. September 12 Purchase office supplies on account for $2,900. 4. September 15 Pay employee salaries of $3,600 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,000 cash. 6. September 22 Pay office rent of $4,800 for the current month. 7. September 26 Receive $12,000 from customers in (1) above. 8. September 30 Receive cash of $5,400 in advance from a customer who plans to have his house painted in the following month. 3. Prepare a trial balance. BOILERMAKER HOUSE PAINTING COMPANY Trial Balance Accounts Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Deferred Revenue Common Stock Retained Earnings
! Required information (The following information applies to the questions displayed below.) Boilermaker House Painting Company incurs the following transactions for September 1. September 3 Paint houses in the current month for $17,000 on account. 2. September 8 Purchase painting equipment for $18,000 cash. 3. September 12 Purchase office supplies on account for $2,900. 4. September 15 Pay employee salaries of $3,600 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,000 cash. 6. September 22 Pay office rent of $4,800 for the current month. 7. September 26 Receive $12,000 from customers in (1) above. 8. September 30 Receive cash of $5,400 in advance from a customer who plans to have his house painted in the following month. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $43,100; Accounts Receivable, $1,400; Supplies, $440; Equipment, $6,800; Accounts Payable, $1,200; Common Stock, $22,000; Retained Earnings, $28,540. All other accounts had a beginning balance of zero.
Required information NO Date General Journal 1 September 03 Accounts Receivable Service Revenue Debit 17,000 Credit 17.000 2 September 08 Equipment Cash 18.000 18,000 3 September 12 Supplies Accounts Payable 2,900 2,900 4 September 15 Salaries Expense Cash 3,600 3,600 5 September 19 Advertising Expense Cash 1,000 1,000 6 September 22 Rent Expense Cash 4.800 4,800 7 September 26 Cash Accounts Receivable 12,000 12,000 8 September 30 Cash Deferred Revenue 5,400 5,400
Answer
2)
Cash | Receivables | |||||||
Beg. Bal. | $43100 | Beg. Bal. | $1400 | |||||
Sep. 26 | 12000 | 18000 | Sep. 8 | Sep. 3 | 17000 | 12000 | Sep. 26 | |
Sep. 30 | 5400 | 3600 | Sep. 15 | |||||
1000 | Sep. 19 | |||||||
4800 | Sep. 22 | |||||||
End. bal. | $33100 | End. bal. | $6400 | |||||
Stock | Equipment | |||||||
Beg. Bal. | $440 | Beg. Bal. | $6800 | |||||
Sep. 12 | 2900 | Sep. 8 | 18000 | |||||
End. bal. | $3340 | End. bal. | $24800 | |||||
Accounts payable | Deferred Revenue | |||||||
Beg. Bal. | $1200 | Beg. Bal. | ||||||
2900 | Sep. 12 | 5400 | Sep. 30 | |||||
End. bal. | $4100 | End. bal. | $5400 | |||||
Common Stock | Retained earnings | |||||||
Beg. Bal. | $22000 | Beg. Bal. | $28540 | |||||
End. bal. | $22000 | End. bal. | $28540 | |||||
Service Revenue | Salaries Expense | |||||||
Beg. Bal. | Beg. Bal. | |||||||
$17000 | Sep. 3 | Sep. 15 | $3600 | |||||
End. bal. | $17000 | End. bal. | $3600 | |||||
Advertising expenses | Rent expense | |||||||
Beg. Bal. | Beg. Bal. | |||||||
Sep. 19 | $1000 | Sep. 22 | $4800 | |||||
End. bal. | $1000 | End. bal. | $4800 |
3)
BOILERMAKER HOUSEPAINTING COMPANY | ||
Trial Balance | ||
Accounts | Debit | Credit |
Cash | $33100 | |
Receivables | 6400 | |
Stock | 3340 | |
Equipment | 24800 | |
Accounts payable | 4100 | |
Deferred revenue | 5400 | |
Common stock | 22000 | |
Retained earnings | 28540 | |
Service revenue | 17000 | |
Salaries expense | 3600 | |
Advertising expenses | 1000 | |
Rent expense | 4800 | |
Total | $77040 | $77040 |
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