Question

Journalizing and Posting Transactions and Adjustments D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. Apr.1 Roulstone contributed $34,500 cash to the business in exchange for common stock. Paid $18,300 cash for the purchase of a used truck. Purchased $9,300 of ladders and other equipment; the company paid $1,000 cash, with the balance due in 30 days. Paid $8,640 cash for two-year (or 24-month) premium toward liability insurance. Purchased $3,600 of supplies on credit. Received an advance of $5,400 cash from a customer for roof repairs to be done during April and May. Billed customers $16,500 for roofing services performed. 18 Collected $14,700 cash from customers toward their accounts billed on April 12. 29 Paid $2,025 cash for truck fuel used in April. 30 Paid $300 cash for April newspaper advertising. 30 Paid $7,500 cash for assistants' wages earned. 30 Billed customers $12,000 for roofing services performed.

Answer 1

A D E F I J K N O P S 1 G H Accounts Receivable $ 16,500 $ 14,700 $ 12,000 L M Supplies $ 3,600 Q R Prepaid Insurance $ 8,640 18-Apr 5-Apr 3-Apr 2 3 B C Cash $ 34,500 $ 18,300 $ 5,400 $ 1,000 $ 14,700 $ 8,640 $ 2,025 $ 300 $ 7,500 1-Apr 5-Apr 18-Apr 12-Apr 30-Apr 2-Apr 2-Apr 3-Apr 29-Apr 30-Apr 30-Apr 2-Apr Trucks $18,300 Equipment $ 9,300 2-Apr Accumulated Depreciation - Equipment Accumulated Depreciation - Trucks Accounts Payable $ 8,300 $ 3,600 2-Apr 5-Apr Unearned Roofing Fees $ 5,400 Depreciation Expense - Trucks - - Common Stock $ 34,500 5-Apr 1-Apr Roofing Fees Earned $ 16,500 12000 13 12-Apr 30-Apr 14 15 Depreciation Expense - Equipment 16 | 17 Advertising Expense 30-Apr $ 300 | Wages Expense $ 7,500 Fuel Expense $ 2,025 30-Apr 29-Apr Supplies Expense Insurance Expense

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