Entries into t accounts and trial balance
connie young, an architect, opened an office o...
Entries into t accounts and trial balance
connie young, an architect, opened an office on october 1, 2019. during the month, she completed the following transactions connected with her professional practice:
transferred cash from a personal bank account to an account to be used for the business, $36,000.
paid october rent for office and workroom, $2,400.
purchased used automobile for $32,800, paying $7,800 cash and giving a note payable for the remainder.
purchased office and computer equipment on account, $9,000.
paid cash for supplies, $2,150.
paid cash for annual insurance policies, $4,000.
received cash from client for plans delivered, $12,200.
paid cash for miscellaneous expenses, $815.
paid cash to creditors on account, $4,500.
paid $5,000 on note payable.
received invoice for blueprint service, due in november, $2,890.
recorded fees earned on plans delivered, payment to be received in november, $18,300.
paid salary of assistants, $6,450.
paid gas, oil, and repairs on automobile for october, $1,020.
required:
1. record the above transactions (in chronological order) directly in the following t accounts, without journalizing. cash; accounts receivable; supplies; prepaid insurance; automobiles; equipment; accounts payable; notes payable; connie young, capital; professional fees; salary expense; blueprint expense; rent expense; automobile expense; miscellaneous expense. to the left of each amount entered in the accounts, select the appropriate letter to identify the transaction.
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