In September Andrew Co., began operations as an architect. The company had the following transactions during the month.
Sept 1. Andrew invested $45,000 cash
Sept.2. The Company purchased $6,200 for office equipment.
Sept 3. The company purchased $500 in supplies and records supply inventory.
Sept 4. The company hires Michelle Monday as an administrative assistant.
Sept 12. The company invoices the Jake Co., for work performed in the amount of $3,200.
Sept 15. The company receives a check in the amount of $1,300 from the Ethan Co., for work to be performed in October.
Sept 18. Pays telephone bill $400
Sept 20. The company invoices the Morgan Co., for work performed in the amount of $4,200.
Sept 21. Purchases a computer at a cost of $1,200 (treated as an asset)
Sept 25. Receives payment from Jake Co., for the entire amount due.
Sept 30. Pays a bill for legal services in the amount of $600.
Sept 30. Pays Michelle Monday $1,300 for wages earned in September.
Sept.30 It is determined that only $200 of the supplies purchased remains at end of month.
Sept 30. Invoices Sam Co., for $1,000 for services performed.
Sept 30. Pays rent for both September and October, $2,100 per month.
Prepare all journal entries making sure that debits equal credits.
Prepare a trial balance making sure debits equal credits
Prepare an income statement for the month of September.
Prepare a balance sheet as of September 30th. Make sure total assets equals total liabilities & owner’s equity
Prepare the closing entry to transfer net income to owner’s equity