Create an Account

Already have account?

Forgot Your Password ?

Mycoursehelp

Home / Questions / The following events occurred during August 2013.

The following events occurred during August 2013.

The following events occurred during August 2013.

  1. Issued common stock to Ms. Garriz in exchange for $15,000 cash.
  2. Paid $850 for first month's rent on office space.
  3. Purchased supplies of $2,250 on credit.
  4. Borrowed $8,000 from the bank.
  5. Paid $1,080 on account for supplies purchased earlier on credit.
  6. Paid secretary's salary for August of $2,150.
  7. Performed accounting services for clients who paid cash upon completion of the service in the total amount of $4,700.
  8. Used $3,180 of the supplies on hand.
  9. Performed accounting services for clients on credit in the total amount of $1,920.
  10. Purchased $500 in supplies for cash.
  11. Collected $1,290 cash from clients for whom services were performed on credit.
  12. Paid $1,000 dividend to stockholders.

Required:

1.  Record the effects of the transactions listed above on the accounting equation. The totals at July 31, 2013 have already been entered.

If an amount box does not require an entry, enter zero ("0") or leave it blank. Enter decreases in account values as negative numbers.

  Assets = Liabilities + Equity
  Cash + Acct. Rec. + Supplies = Acct. Pay. + Notes Pay. + Common Stock + Ret. Earn.
  8,000   15,900   4,100   2,500   4,000   12,000   9,500
a.                           
b.                           
c.                           
d.                           
e.                           
f.                           
g.                           
h.                           
i.                           
j.                           
k.                           
l.                           
    +   +   =   +   +   +  



  Hide    

2.  Prepare the trial balance at August 31, 2013. If an amount box does not require an entry, leave it blank.



Madero Accounting Services
Trial Balance
August 31, 2013
Account
 
Debit
 
Credit
 
 
$
 
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
$
 
$

 

Sep 09 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions

© 2009-2023 - myCourseHelp.com. All Rights Reserved. The certification names are the trademarks of their respective owners.