Question

Pirates Incorporated had the following balances at the beginning of September. Credits PIRATES INCORPORATED Trial Balance September 1 Accounts Debits Cash $ 5,800 Accounts Receivable 1,800 Supplies 6,900 Land 10,500 Accounts Payable Notes Payable Common Stock Retained Earnings Totals $25,000 $ 6,800 2,300 8,300 7,600 $25,000 The following transactions occur in September. September 1 Provide services to customers for cash, $4,000. September 2 Purchase land with a long-term note for $5,700 from Crimson Company. September 4 Receive an invoice for $430 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $5,300. September 10 Purchase supplies on account for $1,000. September 13 Pay $3,300 to Crimson Company for a long-term note. September 18 Receive $4,300 from customers on account. September 20 Pay $830 for September's rent. September 30 Pay September's utility bill of $1,650. September 30 Pay employees $3,300 for salaries for the month of September. September 30 Pay a cash dividend of $1,000 to shareholders.
OOptions for T-charts are: cash, accts recieveable, supplies, land, accts payable, notes payable, common stock, retained earnings, dividends, service rev, rent expense, salaries expense, advertising expense, utilities expense

Answer 1

Pirates Inc. Beg. Bal. Service Revenue Accounts Receivable Accounts Receivable Beg. Bal. 1800 Cash Service Revenue 5300 4300 Cash 5800 Note Payable 4000 Rent Expense 4300 Utilities Expense Salaries Expense Dividends End. Bal. 14100 3300 830 1650 3300 1000 4020 14100 End. Bal. 7100 2800 7100 Supplies 6900 Beg. Bal. Accounts Payable Beg. Bal. Notes Payable 1000 End. Bal. 7900 Land 10500 5700 End. Bal. 16200 7900 7900 16200 16200 6800 Cash Accounts Payable Beg. Bal. Advertising Expense 8230 Supplies 8230 Notes Payable 3300 Beg. Bal. Land 4700 8000 2300 5700 430 1000 8230 End. Bal. End. Bal. 8000 8300 7600 Common Stock Beg. Bal. 8300 8300 Retained Earnings Beg. Bal. 7600 7600 End. Bal. End. Bal. 8300 7600 Cash Dividends 1000 End. Bal. 1000 Service Revenue Cash Accounts Receivable 9300 9300 4000 5300 1000 1000 End. Bal. 9300 Cash Cash Rent Expense 830 End. Bal. 830 Salaries Expense 3300 End. Bal. 3300 830 830 3300 3300 Accounts Payable Advertising Expense 430 End. Bal. Cash Utilities Expense 1650 End. Bal. 1650 430 430 1650 1650 430