Question

Required Information [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 $18,5ee on account. 2. September 8 Purchase painting equipment for $19,500 cash. 3. September 12 Purchase office supplies on account for $3,2ee. 4. September 15 Pay employee salaries of $3,900 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,eee cash. 6. September 22 Pay office rent of $5,1ee for the current month. 7. September 26 Receive $13,500 from customers in (1) above. 8. September 30 Receive cash of $5,7ee in advance from a customer who plans to have his house painted in the following month. 2. Post each transaction to T-accounts and calculate the ending balance for each account. At the beginning of September, the company had the following account balances: Cash, $44,600; Accounts Receivable, $1,550, Supplies, $470: Equipment, $7,100; Accounts Payable, $1,200, Common Stock, $23,500; Retained Earnings, $29,020. All other accounts had a beginning balance of zero.

Answer 1

Cash Alca Date Description Amount Date Description Amount Sepl Begining balance. 44,600 26 Account receivable 1350D Supe Equipment Ali 1950 30 Deffered sevenue 5700. 15 Salaries expense 3900. 19 Advertising 1000 22 office sent 5100 31. Ending balance 34300. 163800 63800 Accounts Receivable AC 1550. SepCash 18500 Sep Begining balance 3 Service Revenue 13500 Sep3) Ending balance 6550 20050 200SD. Supplies Ac Sepi Begining balance 12 Account payable 3200 Sep 31 Ending balance 3670. 3670 3670

Sep, Begioing balane 8 Cash Alc Equipment Alc too. 19500 315 Ending balaniel 26600 2.660D 126600 Accounts payable Alc. Sepl Begining balans 1200. 4400 12 Supplies 3200 . 31544 Ending balance 4400 4400 Deffered reuenue Alca 30 sep Cash 315ep Ending balance 5700 5700 15700 5700 Comman Stock Dic Sep)Begining baland 23500 8 3154 Ending balance 23500 | 23500 2350D b Retained Earning Ak Sepi Begining bal. 29020 3139 Ending balance 29020 29020 29020

Service Revenue Alc. 8 Sept Accounts Recei- 18500 vables 315 Ending balance 18500 18500 118 500 Sep 15 cash Salones Expense 3900 31 Sept Ending balanu.3900 3900 1.3900 Sep 19 Cash Advertisement Expense Alc. 1000 - 31 sep Ending balan_1000 1000 -ce (OOD Bent Expense Sep 22 - Cash 5100 3134 Ending balan 5100 - CP 5100 5100

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