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 $18,500 on account. 2. September 8 Purchase painting equipment for $19,500 cash. 3. September 12 Purchase office supplies on account for $3,200. 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 $1,000 cash. 6. September 22 Pay office rent of $5,100 for the current month. 7. September 26 Receive $13,500 from customers in (1) above. 8. September 30 Receive cash of $5,700 in advance from a customer who plans to have his house painted in the following month. 3. Prepare a trial balance. BOILERMAKER HOUSE PAINTING COMPANY Trial Balance Accounts Debit Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense Advertising Expense Rent Expense Totals

Answer 1

Trial balance:- Particulars Debit $ Credit $ Cash (10,300) Accounts Receivable 5,000 Supplies 3,200 Equipment 19,500 Accounts Payable 3,200 Defffered Revenue 5,700 Common stock Retained earnings Service Revenue 18,500 Salaries expense 3,900 Advertising expense 1,000 Rent expense 5,100 Totals 27,400 27,400 Note: with the provided transactions cash balance will become negative as above