Please someone help me on this and I need it done asap. Give me an ideal on what to do. I posted it below thanks.BOBI_F
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
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
- 8 years ago
- 4 Precalc questions
- brewing for pub location near its raw materials
- You currently work for an automotive parts supply store. Your company is growing and is considering expansion. The company currently...
- Dark green vegetables/Helps with normal vision. Read Answer Items for Question 1 Milk/Helps build strong, healthy bones and teeth. Read Answer Items for...
- enron and arthur andersen
- Marketing Exam
- A local delivery company charges $15 for each box of supplies and an $11 delivery fee. Willie, the delivery man,...
- 2x-4y=8 when x=4 and y=0
- you spend $12 at the store for milk and muffins for your freinds. One bottle of milk costs $1.25,and each...
ENTRIES INTO T ACCOUNTS AND TRIAL BALANCE Leila Durkin, an architect, opened an office on May 1, 2012. During...NOT RATED
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 …8 years ago
Please someone help me on this and I need it done asap. Give me an ideal on what to do. I posted it below thanks.NOT RATEDENTRIES INTO T ACCOUNTS AND TRIAL BALANCELeila Durkin, an architect, opened an office on May 1, 2012. During the month, she completed the following transactions connected with her professional …8 years ago