Pirates Incorporated had the following balances at the beginning of September. Trial Balance
September 1
Accounts Debits Credits
Cash $ 6,500
Accounts Receivable 2,500
Supplies 7,600
Land 11,200
Accounts Payable $ 7,500
Notes Payable 3,000
Common Stock 9,000
Retained Earnings 8,300
Totals $ 27,800 $ 27,800
The following transactions occur in September.
September 1 Provide services to customers for cash, $4,700.
September 2 Purchase land with a long-term note for $6,400 from Crimson Company.
September 4 Receive an invoice for $500 from the local newspaper for an advertisement that appeared on September 2. September 8 Provide services to customers on account for $6,000.
September 10 Purchase supplies on account for $1,100.
September 13 Pay $4,000 to Crimson Company for a long-term note.
September 18 Receive $5,000 from customers on account.
September 20 Pay $900 for September's rent.
September 30 Pay September's utility bill of $2,000.
September 30 Pay employees $4,000 for salaries for the month of September.
September 30 Pay a cash dividend of $1,100 to shareholders.
Required:
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at September 30. (Hint: Be sure to include the balance at the beginning of September in each T-account.)
4. Prepare a trial balance as of September 30.

Pirates Incorporated

1. Journal Entries;

Sept. 1

Debit Cash $4,700

Credit Service Revenue $4,700

To record provision of services for cash.

Sept. 2

Debit Land $6,400

Credit Notes Payable (Crimson Company) $6,400

To record the purchase of land.

Sept. 4

Debit Advertising Expense $500

Credit Advertising Payable $500

To record advertising expense.

Sept. 8

Debit Accounts Receivable $6,000

Credit Service Revenue $6,000

To record the provision of services on account.

Sept. 10

Debit Supplies $1,100

Credit Accounts Payable $1,100

To record the purchase of supplies on account.

Sept. 13

Debit Notes Payable $4,000

Credit Cash account $4,000

To record payment to Crimson Company.

Sept. 18

Debit Cash Account $5,000

Credit Accounts Receivable $5,000

To record the receipt of cash from customers.

Sept. 20

Debit Rent Expense $900

Credit Cash Account $900

To record the payment of September's rent.

Sept. 30

Debit Utilities Expense $2,000

Credit Cash Account $2,000

To record the payment of September's utilities.

Sept. 30

Debit Salaries Expense $4,000

Credit Cash Account $4,000

To record the payment of September's salaries.

Sept. 30

Debit Dividends $1,100

Credit Cash Account $1,100

To record the payment of dividends to shareholders.

2. T-Accounts:

Cash Account

Date      Description                   Debit       Credit

Sept. 1    Balance                       $6,500

Sept. 1    Service Revenue          4,700

Sept. 13  Notes Payable                             $4,000

Sept. 18  Accounts Receivable   4,000

Sept. 20 Rent                                                  900

Sept. 30 Utilities                                          2,000

Sept. 30 Salaries                                         4,000

Sept. 30 Dividends                                       1,100

Sept. 30 Balance c/d                                  3,200

Accounts Receivable

Date      Description                  Debit       Credit

Sept. 1   Balance                       $3,500

Sept. 8  Service Revenue          6,000

Sept. 18 Cash                                            $5,000

Sept. 30 Balance c/d                                  4,500

Supplies

Date      Description                  Debit       Credit

Sept. 1   Balance                       $7,600

Sept. 10 Accounts Payable          1,100

Sept. 30 Balance c/d                                $8,700

Land

Date      Description                  Debit       Credit

Sept. 1   Balance                       $11,200

Sept. 2  Notes Payable               6,400

Sept. 30 Balance c/d                                $17,600

Accounts Payable

Date      Description                  Debit       Credit

Sept. 1   Balance                                       $7,500

Sept. 10 Supplies                                         1,100

Sept. 30 Balance c/d                $8,600

Notes Payable

Date      Description                  Debit       Credit

Sept. 1   Balance                                       $3,000

Sept. 2  Land                                              6,400

Sept. 12 Cash                            $4,000

Sept. 30 Balance c/d                $5,400

Common Stock

Date      Description                  Debit       Credit

Sept. 1   Balance                                       $9,000

Retained Earnings

Date      Description                  Debit       Credit

Sept. 1   Balance                                       $8,300

Service Revenue

Date      Description                  Debit       Credit

Sept. 1   Cash                                           $4,700

Sept. 8  Accounts Receivable                  6,000

Sept. 30 Balance c/d             $10,700

Advertising Expense

Date      Description                  Debit       Credit

Sept. 4   Advertising payable    $500

Advertising Payable

Date      Description                  Debit       Credit

Sept. 4  Advertising Expense                   $500

Rent Expense

Date      Description                  Debit       Credit

Sept. 20 Cash                          $900

Utilities Expense

Date      Description                  Debit       Credit

Sept. 30 Cash                          $2,000

Salaries Expense

Date      Description                  Debit       Credit

Sept. 30 Cash                          $4,000

Dividend

Date      Description                  Debit       Credit

Sept. 30 Cash                          $1,100

3. Pirates Incorporated

Trial Balance as of September 30:

Accounts                      Debits     Credits

Cash                           $ 3,200

Accounts Receivable   4,500

Supplies                        8,700

Land                            17,600

Accounts Payable                       $ 8,600

Notes Payable                                5,400

Common Stock                              9,000

Retained Earnings                         8,300

Service Revenue                          10,700

Advertising Payable                         500

Advertising expense     500

Rent expense                900

Utilities expense        2,000

Salaries expense       4,000

Dividends                    1,100

Totals                   $ 42,500   $ 42,500

Explanation:

a) Data and Calculations:

Pirates Incorporated

Trial Balance  as of September 1

Accounts                      Debits     Credits

Cash                           $ 6,500

Accounts Receivable   2,500

Supplies                        7,600

Land                             11,200

Accounts Payable                       $ 7,500

Notes Payable                                3,000

Common Stock                              9,000

Retained Earnings                         8,300

Totals                      $ 27,800   $ 27,800

the answer choices are:

provides online banking

provides automatic payment services

provides home loans by using saving accounts

accept tax return refunds

hopefully someone can answer the question now lol

answer; post closing trial balance;