Question

1.  Martinez Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the business, these events and transactions occurred:

Apr. 1		Stockholders invested $24,930 cash in exchange for common stock of the corporation.
1		Hired a secretary-receptionist at a salary of $519 per week, payable monthly.
2		Paid office rent for the month $1,246.
3		Purchased architectural supplies on account from Burmingham Company $1,800.
10		Completed blueprints on a carport and billed client $2,631 for services.
11		Received $969 cash advance from M. Jason to design a new home.
20		Received $3,878 cash for services completed and delivered to S. Melvin.
30		Paid secretary-receptionist for the month $2,076.
30		Paid $415 to Burmingham Company for accounts payable due.

Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

2. Pronghorn Corp has the following transactions during August of the current year.

Aug. 1		Issues shares of common stock to investors in exchange for $10,400.
4		Pays insurance in advance for 3 months, $1,180.
16		Receives $880 from clients for services rendered.
27		Pays the secretary $640 salary.

Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answer 1

April 30 Salary expensi $ 2076 Cash $2076 (for salary paid to receptionist for the month) April 30 Accounts Payable $415 cash $415 (for amount paid to Burmingham (o) for afc payable des Date Coudit ($) Augusts General Journal of Pronghoon corp Accounts Title Debit ($) Cash 10,400 Common stock (for shares usued against cashi 10,400 1,180 August 4 Prepaid Insurance Cash 1,180 (for Insurance for 3 months paid en advance 880 August 16 880 Cash Service Revenue money received from clients for services rendered) (for 640 640 August 27 Cash Salary expense (for salary paid to secretary

General Journal of Martinez Architects Date Account tike Debit (Dr) (8) Cuail (8) April 1 Cash 24,930 common stock 24,930 (for cash invested in exchange for common stock) Apoll 1 No entry as no conomic transaction has taken plau. Apsila Rent expense $ 1,246 Cash $ 1,246 (p for sent paid for the month) supplies April3 1800 Accounts Payable 1800 Aprile (for supplies purchased on amounts Account Receivable 2631 Service Revenue Cfor client lilled for services provided) 2631 969 Aprill 969 Cash Unearned Revenue for cash received in advance for services not provided yet) Cash 3,878 service revenue (for cash received for services provided) Aprilao 3,878