Question

Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following tra a. Issued common stock to Marjorie Knaus in exchange for $30,000. b. Paid January rent for office and workroom, $2,500. c. Purchased used automobile for $28,500, paying $6,000 cash and giving a note payable for the remainder. d. Purchased office and computer equipment on account, $8,000. e. Paid cash for supplies, $2,100. f. Paid cash for annual insurance policies, $3,600. g. Received cash from client for plans delivered, $9,000. h. Paid cash for miscellaneous expenses, $2,600. i. Paid cash to creditors on account, $4,000. j. Paid installment due on note payable, $1,875. k. Received invoice for blueprint service, due in February, $5,500. 1. Recorded fees earned on plans delivered, payment to be received in February, $31,400. m. Pald salary of assistants, $6,000. n. Paid gas, oil, and repairs on automobile for January, $1,300. Required:

Answer 1

Knaus Architects
Unadjusted Trial balance
January 31, 20Y4
	Debit balance	Credit balance
Cash ($30,000-$2,500-$6,000-2,100-$3,600+$9,000-$2,600-$4,000-$1,875-$6,000-$1,300)	$                 9,025
Accounts receivable	$               31,400
Supplies	$                 2,100
Prepaid insurance	$                 3,600
Automobile	$               28,500
Office and computer equipment	$                 8,000
Accounts payable ($8,000-$4,000+$5,500)		$                   9,500
Note payable ($28,500-6,000-$1,875)		$                20,625
Service Revenue ($9,000+$31,400)		$                40,400
Common Stock		$                30,000
Rent expenses	$                 2,500
Misc. expenses	$                 2,600
Blueprint service charges	$                 5,500
Salaries expense	$                 6,000
Gas, oil and repairs expenses	$                 1,300
Total	$             100,525	$              100,525

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