90.2K

Verified Solution

Link Copied!

Learner Interaction and Engagement Assignment (4.1) Objective: This activity has the purpose of helping students journalize transactions, post, and prepare a trial balance. Student Instructions: 1. Journalize the transactions, including explanations. 2. Post to the ledger T-accounts. 3. Prepare a trial balance on April 30, 2014. 4. You only have one opportunity to submit the homework through email. 5. Value points: (26 pts.) 6. Due date is on Sunday at 11:59 PM by the end of this week. Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred: Soy Apr. 1 Stockholders invested $18,000 cash in exchange for common stock of the corporation. Hired a secretary-receptionist at a salary of $375 per week, payable monthly 2 Paid office rent for the month $900. 3 Purchased architectural supplies on account from Burlington Company $1,300. 10 Completed blueprints on a carport and billed client $1,900 for services. 11 Received $700 cash advance from J. Madison to design a new home. 20 Received $2,800 cash for services completed and delivered to M. Svetlana. 30 Paid secretary-receptionist for the month $1,500. 30 Paid $300 to Burlington Company for accounts payable due. The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense. References Required Resources: Kieso, D. E., Kimmel, P.D., & Weygandt, J.J. (2013). Accounting: Tools for Business Decision Making (5th Ed.). Hoboken, NJ: John Wiley & Sons, Inc. Additional Resources: Elliot, J.A., Horngren, C.T. & Sundem, G.L. (1999). Introduction to Financial Accounting (7th Ed.), Upper Saddle River, NJ: Prentice Hall

Answer & Explanation Solved by verified expert

See Answer