Respuesta :
Answer:
Pirates Incorporated
1. General Journal:
Date Description Debits Credits
Sept. 1 Cash $3,700
Service Revenue $3,700
To record the cash received from customers for services.
Sept 2 Land $5,400
Long-term Note Payable (Crimson) $5,400
To record the purchase of land with a long-term note from Crimson Company.
Sept. 4 Advertising $400
Advertising Payable $400
To record advertising expense.
Sept. 8 Accounts Receivable $5,000
Service Revenue $5,000
To record services provided on account.
Sept. 10 Supplies $1,000
Accounts Payable $1,000
To record the purchase of supplies on account.
Sept. 13 Long-term Note Payable $3,000
Cash Account $3,000
To record the payment for a long-term note.
Sept. 18 Cash Account $4,000
Accounts Receivable $4,000
To record the receipt of cash from customers on account.
Sept. 20 Rent Expense $800
Cash Account $800
To record the payment for September's rent.
Sept. 30 Utility Expense $1,500
Cash Account $1,500
To record the payment for September's utility.
Sept 30 Salaries Expense $3,000
Cash Account $3,000
To record the payment for September's salaries.
Sept 30 Dividend $1,000
Cash Account $1,000
To record the payment of a cash dividend to shareholders.
2. T-accounts:
Date Description Debits Credits
Cash Account
Sept. 1 Balance b/d $ 5,500
Sept. 1 Service Revenue 3,700
Sept. 13 Long-term Notes Payable $3,000
Sept. 18 Accounts Receivable 4,000
Sept. 20 Rent $800
Sept. 30 Utility $1,500
Sept. 30 Salaries $3,000
Sept. 30 Dividends $1,000
Sept. 30 Balance c/d $3,900
Total $13,200 $13,200
Oct. 1 Balance b/d $3,900
Date Description Debits Credits
Service Revenue
Sept. 1 Cash 3,700
Sept. 8 Accounts Receivable 5,000
Sept. 30 $8,700
Date Description Debits Credits
Land
Sept. 1 Balance b/d $10,200
Sept. 2 Long-term Note Payable $5,400
Sept. 30 Balance c/d $15,600
Oct. 1 Balance b/d $15,600
Date Description Debits Credits
Long-term Note Payable
Sept. 1 Balance b/d $2,000
Sept. 2 Land $5,400
Sept. 13 Cash $3,000
Sept. 30 Balance c/d $4,400
Oct. 1 Balance b/d $4,400
Date Description Debits Credits
Advertising Expense
Sept. 4 Advertising Payable $400
Date Description Debits Credits
Advertising Payable
Sept. 4 Advertising Expense $400
Date Description Debits Credits
Accounts Receivable
Sept. 1 Balance b/d $1,500
Sept. 8 Service Revenue $5,000
Sept. 18 Cash $4,000
Sept. 30 Balance c/d 2,500
Oct. 1 Balance b/d $2,500
Date Description Debits Credits
Supplies
Sept. 1 Balance b/d $6,600
Sept. 8 Accounts Payable 1,000
Sept. 30 Balance c/d $7,600
Oct. 1 Balance b/d $7,600
Date Description Debits Credits
Accounts Payable
Sept. 1 Balance b/d $6,500
Sept. 8. Supplies $1,000
Sept. 30 Balance c/d $7,500
Oct. 1 Balance b/d $7,500
Date Description Debits Credits
Rent Expense
Sept. 20 Cash $800
Date Description Debits Credits
Utility Expense
Sept. 30 Cash $1,500
Date Description Debits Credits
Salaries Expense
Sept. 30 Cash $3,000
Date Description Debits Credits
Dividends
Sept. 30 Cash $1,000
Date Description Debits Credits
Common Stock
Sept. 1 Balance b/d $8,000
Date Description Debits Credits
Retained Earnings
Sept. 1 Balance b/d $7,300
3. PIRATES INCORPORATED
Trial Balance
Accounts Debits Credits
Cash $ 3,900
Service Revenue $8,700
Land 15,600
Long-term Note Payable 4,400
Advertising Expense 400
Advertising Payable 400
Accounts Receivable 2,500
Supplies 7,600
Accounts Payable 7,500
Rent Expense 800
Utilities Expense 1,500
Salaries Expense 3,000
Dividends 1,000
Common Stock 8,000
Retained Earnings 7,300
Total $36,300 $36,300
Explanation:
a) Data:
PIRATES INCORPORATED
Trial Balance
Accounts Debits Credits
Cash $ 5,500
Accounts Receivable 1,500
Supplies 6,600
Land 10,200
Accounts Payable $ 6,500
Notes Payable 2,000
Common Stock 8,000
Retained Earnings 7,300
Total $23,800 $23,800
