Alicia Hiram is a licensed dentist. During the first month of the operation of h

Question

Alicia Hiram is a licensed dentist. During the first month of the operation of her business, the following events and transcations occured.

April 1 Stock holders invested $40,000 cash in exchange for common stock.

April 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly.

April 2 Paid office rent for the month of $1,700

April 3 Purchased dental supplies on account from Jennings Company $5,200

April 10 Performed dental services and billed insurance companies $6,600

April 11 Received $1,200 cash advance from Bob carow for an implant

April 20 Received $2,100 cash for dental services perfomed for Ryan Banks

April 30 Paid secretary-receptionist for the month $2,400

April 30 Paid $2,200 to Jennings company for accounts payable due

Alicia 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 Common stock,

No. 400 Services revenue, No. 726 Salaries and Wages expense and No. 729 Rent expense.

Instructions:

A. Journalize the transcations

B. Post to the ledger accoutns

C. Prepare a trial balance on April 30, 2015.

Explanation / Answer

Journal 1-Apr cash 40000 common stock 40000 2-Apr rent 1700 cash 1700 3-Apr dental supplies $5,200.00 cash 5200 10-Apr Accounts receivable 6600     service revenue 6600.00 11-Apr cash 1200        unearned service revenue 1200 20-Apr cash 2100    service revenue 2100 30-Apr salary 2400 cash 2400 30-Apr accounts payable 2200 cash 2200

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