Sharon Stansbury is a licensed dentist. During the first month of the operation of her business,...
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Sharon Stansbury is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 1 2 3 10 11 20 30 30 Invested €18,600 cash in her business in exchange for ordinary shares. Hired a secretary-receptionist at a salary of €651 per week payable monthly. Paid office rent for the month €1,023. Purchased dental supplies on account from Dazzle Company €3,720. Performed dental services and billed insurance companies €4,743. Received €930 cash advance from Leah Mataruka for an implant. Received €1,953 cash for services performed from Michael Santos. Paid secretary-receptionist for the month €2,604. Paid €2,232 to Dazzle for accounts payable due. Sharon uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Share Capital-Ordinary, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Prepare a trial balance on April 30, 2020. Totals SHARON STANSBURY, DENTIST Trial Balance Debit Credit Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) Cash Date Supplies Accounts Receivable Date Date Date > Accounts Payable Explanation Ref. Service Revenue Date Unearned Service Revenue Date Date Share Capital Ordinary Date Rent Expense Date 31 11 11 Explanation Ref. 11 Salaries and Wages Expense 11 Explanation Ref. 31 31 Explanation Ref. 31 31 Explanation Ref. 31 31 Explanation Ref. 31 Explanation Ref. 11 11 Explanation Ref. 11 Explanation Ref. 31 Debit Debit Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance Balance Balance No No No No No No No No No Journalize the transactions. (Record entries in the order displayed in the problem statement. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation (Shareholder's investment of cash in business) (Hired a secretary-receptionist) (Paid monthly salary) (Paid Dazzle Company on account) Debit Credit Sharon Stansbury is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 1 2 3 10 11 20 30 30 Invested €18,600 cash in her business in exchange for ordinary shares. Hired a secretary-receptionist at a salary of €651 per week payable monthly. Paid office rent for the month €1,023. Purchased dental supplies on account from Dazzle Company €3,720. Performed dental services and billed insurance companies €4,743. Received €930 cash advance from Leah Mataruka for an implant. Received €1,953 cash for services performed from Michael Santos. Paid secretary-receptionist for the month €2,604. Paid €2,232 to Dazzle for accounts payable due. Sharon uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Share Capital-Ordinary, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Prepare a trial balance on April 30, 2020. Totals SHARON STANSBURY, DENTIST Trial Balance Debit Credit Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) Cash Date Supplies Accounts Receivable Date Date Date > Accounts Payable Explanation Ref. Service Revenue Date Unearned Service Revenue Date Date Share Capital Ordinary Date Rent Expense Date 31 11 11 Explanation Ref. 11 Salaries and Wages Expense 11 Explanation Ref. 31 31 Explanation Ref. 31 31 Explanation Ref. 31 31 Explanation Ref. 31 Explanation Ref. 11 11 Explanation Ref. 11 Explanation Ref. 31 Debit Debit Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance Balance Balance No No No No No No No No No Journalize the transactions. (Record entries in the order displayed in the problem statement. If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation (Shareholder's investment of cash in business) (Hired a secretary-receptionist) (Paid monthly salary) (Paid Dazzle Company on account) Debit Credit
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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