Question

Saved Help Save& Exit Submit Check my work The following information applies to the questions displayed below. Pirates Incorporated had the following balances at the beginning of September PIRATES INCORPORATED Trial Balance September 1 Accounts Cash Accounts Receivable Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Debits Credits $5,700 1,700 6,800 10,400 6,700 2,200 8,200 7.500 924.600 $24,600 Totals The following transactions occur in September Septenber 1 Provide services to customers for cash, $3,900 September 2 urchase land with a lo ive an invoice for $420rom the local nevspaper for an advertisement that appeared on September 2 Septenber 8 Provide services to customers on account tor $500 tenber 10 Purchase supplies on account for $1,200. Sep Septenber 13 Pay $3,200 to Crimson Company for a long-tern note Septenber 18 Receive $4,200 from customers on account. Septenber 20 Pay $820 for Septenber's rent. Septenber 30 Pay September's utility bill of $1,600. Septenber 30 Pa Septenber 30 Pay a cash dividend of s1,200 to shareholders. y employees $3,200 for salaries for the month of September. 2. & 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at September 30. (Hint Be sure to include the balance at the heainnina of Sentember in each T-account) Prev

Answer 1

Answer
	showing balances of each account on september 30 by preparing appropriate T-accounts
	CASH A/C						SERVICE REVENUE A/C
	particulars	dr amount	particulras	cr amount			particulars	dr amount	particulras	cr amount
	opening balance	5700	notes payable	3200					opening balance	0
	sales revenue	3900	rent expense	820			ending balance (b/f)	9100	cash	3900
	accounts recievables	4200	utility expense	1600					accounts recievables	5200
			salary expense	3200
			divident	1200
			ending balance (b/f)	3780
		13800		13800				9100		9100
	LAND A/C						NOTES PAYABLE A/C
	particulars	dr amount	particulras	cr amount			particulars	dr amount	particulras	cr amount
	opening balance	10400					cash	3200	opening balance	2200
	notes payable	5600	ending balance (b/f)	16000			ending balance (b/f)	4600	land	5600
		16000		16000				7800		7800
	ADVERTISEMENT EXPENSE A/C						ACCOUNTS PAYABLE A/C
	particulars	dr amount	particulras	cr amount			particulars	dr amount	particulras	cr amount
	opening balance	0							opening balance	6700
	accounts payable	420	ending balance (b/f)	420			ending balance (b/f)	8320	advertisement expense	420
									supplies	1200
		420		420				8320		8320
	ACCOUNTS RECEIVABLES A/C						RENT EXPENSE ACCOUNT
	particulars	dr amount	particulras	cr amount			particulars	dr amount	particulras	cr amount
	opening balance	1700	cash	4200			opening balance	0
	service revenue	5200	ending balance (b/f)	2700			cash	820	ending balance (b/f)	820
		6900		6900				820		820
	SUPPLIES A/C						UTILITY EXPENSE ACCOUNT
	particulars	dr amount	particulras	cr amount			particulars	dr amount	particulras	cr amount
	opening balance	6800					opening balance	0
	accounts payable	1200	ending balance (b/f)	8000			cash	1600	ending balance (b/f)	1600
		8000		8000				1600		1600