ENTRIES INTO T ACCOUNTS AND TRIAL BALANCE Leila Durkin, an architect, opened an office on May 1, 2012. During…
ENTRIES INTO T ACCOUNTS AND TRIAL BALANCE Leila Durkin, an architect, opened an office on May 1, 2012. During the month, she completed the following transactions connected with her professional practice: a. Transferred cash from a personal bank account to an account to be used for the business, $30,000 b. Paid May rent for office and workroom, $3,500 c. Purchased used automobile for $25,000, paying $5,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $9,000 e. Paid cash for supplies, $1,200 f. Paid cash for annual insurance policies, $2,400 g. Received cash from client for plans delivered, $8,150 h. Paid cash for miscellaneous expenses, $300 i. Paid cash to creditors on account, $2,500 j. Paid installment due on note payable, $400 k. Received invoice for blueprint service, due in June, $1,200 l. Recorded fee earned on plans delivered , payment to be received in June, $12,900 m. Paid salary of assistant, $1,800 n. Paid gas, oil, and repairs on automobile for May, $600 Instructions 1. Record the above transactions directly in the following T accounts, without journalizing: Cash; Accounts receivable; supplies; prepaid insurance; automobiles; equipment; notes payable; accounts payable; leila durkin, capital; professional fees; rent expense; salary expense; blueprint expense; automobile expense; miscellaneous expense. To the left of the amount entered in the accounts, place the appropriate letter identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only ( such as prepaid insurance) do not need a balance. 3. Prepare an unadjusted trial balance for Leila Durkin, Architect, as of May 31, 2012. 4. Determine the net income or net loss for May. This is what I have to do and if there is anyway that you can help me just to give me an ideal I would really appreciate it. Thank you so much,
Study Acers provides students with tutoring and help them save time, and excel in their courses. Students LOVE us!No matter what kind of essay paper you need, it is simple and secure to hire an essay writer for a price you can afford at StudyAcers. Save more time for yourself. Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.