Question

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business, these events and transactions occurred:
Apr.
1 Stockholders invested $24,210 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $504 per week, payable monthly.
2 Paid office rent for the month $1,210.
3 Purchased architectural supplies on account from Burmingham Company $1,748.
10 Completed blueprints on a carport and billed client $2,555 for services.
11 Received $941 cash advance from M. Jason to design a new home.
20 Received $3,766 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $2,016.
30 Paid $403 to Burmingham Company for accounts payable due.

Required:
Journalize the transactions.

Answer 1

Answer:

April  1 Stockholders invested $24,210 cash in exchange for common stock of the corporation.

Dr Cash 24,120

   Cr Common stock 24,120

April  1 Hired a secretary-receptionist at a salary of $504 per week, payable monthly.

no journal entry required

April  2 Paid office rent for the month $1,210.

Dr Rent expense 1,210

    Cr Cash 1,210

April  3 Purchased architectural supplies on account from Burmingham Company $1,748.

Dr Supplies 1,748

    Cr Accounts payable 1,748

April  10 Completed blueprints on a carport and billed client $2,555 for services.

Dr Accounts receivable 2,555

    Cr Service revenue 2,555

April  11 Received $941 cash advance from M. Jason to design a new home.

Dr Cash 941

    Cr Deferred revenue 941

April  20 Received $3,766 cash for services completed and delivered to S. Melvin.

Dr Cash 3,766

    Cr Service revenue 3,766

April  30 Paid secretary-receptionist for the month $2,016.

Dr Wages expense 2,016

    Cr Cash 2,016

April  30 Paid $403 to Burmingham Company for accounts payable due.

Dr Accounts payable 403

    Cr Cash 403