Problem 3-5A (Part Level Submission) Ayala Architects incorporated as licensed a

Question

Problem 3-5A (Part Level Submission) 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 $20,700 cash in exchange for common stock of the corporation. 1 Hired a secretary-receptionist at a salary of $431 per week, payable monthly 2 Paid office rent for the month $1,035. 3 10 11 20 30 30 Purchased architectural supplies on account from Burmingham Company $1,495. Completed blueprints on a carport and billed client $2,185 for services. Received $805 cash advance from M. Jason to design a new home. Received $3,220 cash for services completed and delivered to S. Melvin. Paid secretary-receptionist for the month $1,724. Paid $345 to Burmingham Company for accounts payable due.

Explanation / Answer

Cash A/c

Dr Cr

Accounts receivable

Dr Cr

Supplies

Accounts Payable

Unearned Service Income

Common Stock

Service Revenue

Salaries and Wages expense

Rent Expense

Thank You

Date Particulars Amount Date Particulars Amount Apr 1 To Common Stock 20700 Apr1 By Rental Expense 1035 Apr11 To Unearned Service income 805 Apr30 By Salaries and Wages 1724 Apr20 To Service Income 3220 Apr30 By Accounts Payable 345 Apr30 By Balance C/d 21621 Total 24725 Total 24725

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