Pirates Incorporated had the following balances at the beginning of September. ...

60.1K

Verified Solution

Question

Accounting

Pirates Incorporated had the following balances at the beginning of September.

PIRATES INCORPORATED Trial Balance September 1
Accounts Debits Credits
Cash $ 5,400
Accounts Receivable 1,400
Supplies 6,500
Land 10,100
Accounts Payable $ 6,400
Notes Payable 1,900
Common Stock 7,900
Retained Earnings 7,200
Totals $ 23,400 $ 23,400

The following transactions occur in September.

September 1 Provide services to customers for cash, $3,600.
September 2 Purchase land with a long-term note for $5,300 from Crimson Company.
September 4 Receive an invoice for $390 from the local newspaper for an advertisement that appeared on September 2.
September 8 Provide services to customers on account for $4,900.
September 10 Purchase supplies on account for $1,200.
September 13 Pay $2,900 to Crimson Company for a long-term note.
September 18 Receive $3,900 from customers on account.
September 20 Pay $790 for September's rent.
September 30 Pay September's utility bill of $1,450.
September 30 Pay employees $2,900 for salaries for the month of September.
September 30 Pay a cash dividend of $1,200 to shareholders.

Provide services to customers for cash, $3,600

Date Account Title Debit Credit
September 01

Purchase land with a long-term note for $5,300 from Crimson Company.

Date Account Title Debit Credit
September 02

Receive an invoice for $390 from the local newspaper for an advertisement that appeared on September 2.

Date Account Title Debit Credit
September 04

Provide services to customers on account for $4,900.

Date Account Title Debit Credit
September 08

Purchase supplies on account for $1,200.

Date Account Title Debit Credit
September 10

Pay $2,900 to Crimson Company for a long-term note.

Date Account Title Debit Credit
September 13

Receive $3,900 from customers on account.

Date Account Title Debit Credit
September 18

Pay $790 for September's rent.

Date Account Title Debit Credit
September 20

Pay September's utility bill of $1,450.

Date Account Title Debit Credit
September 30

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students