Question

Exercise 2-20A Record transactions, post to T-accounts, and prepare a trial balance (LO2-4, 2-5, 2-6)

[The following information applies to the questions displayed below.]
  

Boilermaker House Painting Company incurs the following transactions for September.

1.		September		3		Paint houses in the current month for $16,000 on account.
2.		September		8		Purchase painting equipment for $17,000 cash.
3.		September		12		Purchase office supplies on account for $2,700.
4.		September		15		Pay employee salaries of $3,400 for the current month.
5.		September		19		Purchase advertising to appear in the current month for $1,100 cash.
6.		September		22		Pay office rent of $4,600 for the current month.
7.		September		26		Receive $11,000 from customers in (1) above.
8.		September		30		Receive cash of $5,200 in advance from a customer who plans to have his house painted in the following month.

BOILERMAKER HOUSE PAINTING COMPANY Trial Balance Accounts Debit Credit Cash $11,300selected answer incorrect not attempted Accounts Receivable 6,200selected answer incorrect not attempted Supplies 2,900selected answer incorrect not attempted Equipment 22,400selected answer incorrect not attempted Accounts Payable not attempted 3,600selected answer incorrect Deferred Revenue not attempted 5,000selected answer incorrect Common Stock not attempted 20,000selected answer incorrect Retained Earnings not attempted 8,000selected answer incorrect Service Revenue not attempted 15,000selected answer incorrect Salaries Expense 3,200selected answer incorrect not attempted Advertising Expense 1,200selected answer incorrect not attempted Rent Expense 4,400selected answer incorrect not attempted Totals $51,600 $51,600

Answer 1

Date	Account Titles	Debit	Credit
Sep-03	Accounts Receivable	$         16,000
	Service Revenue		$         16,000
Sep-08	Equipment	$         17,000
	Cash		$         17,000
Sep-12	Supplies	$            2,700
	Accounts Payable		$         23,960
Sep-15	Salaries Expense	$            3,400
	Cash		$            3,400
Sep-19	Advertising Expense	$            1,100
	Cash		$            1,100
Sep-22	Rent Expense	$            4,600
	Cash		$            4,600
Sep-26	Cash	$         11,000
	Accounts Receivable		$         11,000
Sep-30	Cash	$            5,200
	Deferred Revenue		$            5,200

Account Titles	Debit	Credit
Cash	$            1,400
Accounts Receivable	$         11,200
Supplies	$            5,600
Equipment	$         39,400
Accounts Payable		$            6,300
Deferred Revenue		$         10,200
Common Stock		$         20,000
Retained Earnings		$            8,000
Service Revenue		$         31,000
Salaries Expense	$            6,600
Advertising Expense	$            2,300
Rent Expense	$            9,000
Total	$         75,500	$         75,500