ACC 290 Week 2 WileyPLUS Assignment Week Two
E3-4
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders equity is explained
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E3-9
This information relates to Pickert Real Estate Agency.
Oct. 1 Stockholders invested $30,000 in exchange for common stock of the corporation
Oct. 2 Hires an administrative assistant at an annual salary of $42,000
Oct. 3 Buys office furniture for $4,600, on account
Oct. 6 Sells a house and lot for M.E. Petty; commissions due from Petty, $10,800 (not paid by Petty at this time)
Oct. 10 Receives cash of $140 as commission for acting as rental agent renting an apartment
Oct. 27 Pays $700 on account for the office furniture purchased on October 3
Oct. 30 Pays the administrative assistant $3,500 in salary for October
Post the transactions to T-accounts and complete the following trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)
P3-5A
Sunflower Architects incorporated as licensed architects on April 1, 2010. During the first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $15,000 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.
2 Paid office rent for the month $900.
3 Purchased architectural supplies on account from Spring Green Company $1,000.
10 Completed blueprints on a carport and billed client $1,500 for services.
11 Received $500 cash advance from J. Madison to design a new home.
20 Received $2,300 cash for services completed and delivered to M. Svetlana.
30 Paid secretary-receptionist for the month $1,500.
30 Paid $300 to Spring Green Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Revenue, Common Stock, Service Revenue, Salaries Expense, and Rent Expense. Hint: Journalize transactions, post, and prepare a trial balance. (SO 3, 5, 6, 7, 8) Instructions (a) Journalize the transactions, including explanations. (b) Post to the ledger T accounts. (c) Prepare a trial balance on April 30, 2010. Cash $15,100 Tot. trial balance $20,000
P3-6A This is the trial balance of Slocombe Company on September 30
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