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 $16,500 on account. 2. September 8 Purchase painting equipment for $17,500 cash. 3. September 12 Purchase office supplies on account for $2,800. 4. September 15 Pay employee salaries of $3,500 for the current month. 5. September 19 Purchase advertising to appear in the current month for $1,200 cash. 6. September 22 Pay office rent of $4,700 for the current month. 7. September 26 Receive $11,500 from customers in (1) above. 8. September 30 Receive cash of $5,300 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, $42,600; Accounts Receivable, $1,350; Supplies, $430; Equipment, $6,700; Accounts Payable, $1,100; Common Stock, $21,500Retained Earnings, $28,480. All other accounts had a beginning balance of zero. Cash Accounts Receivable Beg. bal. Beg. bal. End. bal. End. bal. Supplies Equipment Beg. bal. Beg. bal. End, bal End, bal Accounts Payable Deferred Revenue Beg. bal. Beg. bal. End. bal. End. bal. Common Stock Retained Earnings Beg. bal. Beg. bal. End, bal. End. bal. Service Revenue Salaries Expense Beg. bal. Beg. bal. End. bal. End, bal. Advertising Expense Rent Expense Beg. bal. Beg. bal. End. bal. End. bal.

Answer 1

Cash					Accounts Receivable					Supplies					Equipment
Beg. Bal.	$ 42,600.00	2)	$ 17,500.00		Beg. Bal.	$   1,350.00	7)	$ 11,500.00		Beg. Bal.	$      430.00	End. Bal.	$   3,230.00		Beg. Bal.	$   6,700.00	End. Bal.	$ 24,200.00
7)	$ 11,500.00	4)	$   3,500.00		1)	$ 16,500.00	End. Bal.	$   6,350.00		3)	$   2,800.00				2)	$ 17,500.00
8)	$   5,300.00	5)	$   1,200.00
		6)	$   4,700.00
		End. Bal.	$ 32,500.00
Accounts Payable					Deferred Revenue					Common Stock					Retained Earnings
End. Bal	$   3,900.00	Beg. Bal.	$   1,100.00		End. Bal	$   5,300.00	Beg. Bal.	$               -		End. Bal	$ 21,500.00	Beg. Bal.	$ 21,500.00		End. Bal	$ 28,480.00	Beg. Bal.	$ 28,480.00
		3)	$   2,800.00				8)	$   5,300.00
Service Revenue					Salaries Expense					Advertising Expense					Rent Expense
End. Bal	$ 16,500.00	1)	$ 16,500.00		4)	$   3,500.00	End. Bal.	$   3,500.00		5)	$   1,200.00	End. Bal.	$   1,200.00		6)	$   4,700.00	End. Bal.	$   4,700.00