Question

Figure 1 Transactions in April 2019 Month Day Transaction invested $80,000 cash Mong with office equipment valued at $26.000 in the Date Account The 5 9 13 The company prepaid $9.000 cash for 12 months' rent for office space. (Hint Debit Prepard Rent for $9.000) The company made credit purchases for $8.000 in office equipment and $3.600 in office supplies. Payment is due within 10 days The company completed services for a client and immediately received $4.000 cash The company completed a $6.000 project for a client who must pay within 30 days The company pad 511 600 cash to settle the account payable created on April 3 The company pax 52400 cash for the premium on a 12-month insurance policy Hint Debit Prepaid Insurance for $2.400) The company received $4.400 cash as partial payment for the work completed on April 25 The company completed work for another client for $2.890 on credit Tanner 55 500 cash from the company for personal use The company purchased 1800 of additional office supplies on credit The comp 435 cash for this month's 29 Complete the Assignment Prepare general joumal antries to record these transtone account ested in m2 2. Open the following ledger account the account numbers are in parentheses balance column format . . 1 1 . • Account Receive 100% • Oct (124 • Prepand Rent (131) . Once Equipment (163)

Answer 1

Answer-Journal Entries

Date	Account Title and Explanation	Debit ($)	Credit ($)
April 1	Cash	80,000
	Office Equipment	26,000
	Common Stock		106,000
	(To record the investment in cash and office equipment)
April,2	Prepaid Rent	9,000
	Cash		9,000
	(To record the rent paid in advance)
April 3	Office Equipment	8,000
	Office Supplies	3,600
	Accounts Payable		11,600
	(To record the credit purchase)
April 6	Cash	4,000
	Service Revenue		4,000
	(To record the cash received for services completed)
April 9	Accounts Receivable	6,000
	Service Revenue		6,000
	(To record the services provided to a client on credit)
April 13	Accounts Payable	11,600
	Cash		11,600
	(To record the payment made for the credit purchases made on April 3rd)
April 19	Prepaid insurance	2,400
	Cash		2,400
	(To record the payment made for insurance in advance)
April 22	Cash	4,400
	Accounts Receivable		4,400
	(To record the receipt of cash for the services provided on credit)
April 25	Accounts Receivable	2,890
	Service Revenue		2,890
	(To record the service provided to a client on credit)
April 28	Dividend	5,500
	Cash		5,500
	(To record the payment for dividend)
April 29	Office Supplies	600
	Accounts Payable		600
	(To record the supplies purchased on credit)
April 30	Utilities Expenses	435
	Cash		435
	(To record the payment for the utilities expenses)

101 CASH
DATE	DEBIT	CREDIT	BALANCE
01 APRIL	80,000		80,000
02 APRIL		9,000	71,000
06 APRIL	4,000		75,000
13 APRIL		11,600	63,400
19 APRIL		2,400	61,000
22 APRIL	4,400		65,400
28 APRIL		5,500	59,900
30 APRIL		435	59,465

106 ACCOUNTS RECEiVABLE
DATE	DEBIT	CREDIT	BALANCE
APRIL 09	6,000		6,000
APRIL 22		4,400	1,600
APRIL 25	2,890		4,490

124 OFFICE SUPPLIES
DATE	DEBIT	CREDIT	BALANCE
APRIL 03	3,600		3,600
APRIL 29	600		4,200

128 PREPAID INSURANCE
DATE	DEBIT	CREDIT	BALANCE
APRIL 19	2,400		2,400

131 PREPAID RENT
DATE	DEBIT	CREDIT	BALANCE
APRIL 02	9,000		9,000

163 OFFICE EQUIPMENT
DATE	DEBIT	CREDIT	BALANCE
APRIL 01	26,000		26,000
APRIL 03	8,000		34,000

201 ACCOUNTS PAYABLE
DATE	DEBIT	CREDIT	BALANCE
APRIL 03		8,000	8,000
April 03		3,600	11,600
APRIL 13	11,600		-
APRIL 29		600	600

301 K. TANNER CAPITAL
DATE	DEBIT	CREDIT	BALANCE
APRIL 01		106,000	106,000

319 Dividends
DATE	DEBIT	CREDIT	BALANCE
APRIL 28	5,500		5,500

403 SERVICE REVENUE
DATE	DEBIT	CREDIT	BALANCE
APRIL 06		4,000	4,000
APRIL 09		6,000	10,000
APRIL 25		2,890	12,890

690 UTILITIES EXPENSE
DATE	DEBIT	CREDIT	BALANCE
APRIL 30	435		435

LINKWORKS
TRIAL BALANCE
APRIL 30
	Debit	Credit
CASH 101	59,465
ACCOUNTS RECEIVABLE 106	4,490
OFFICE SUPPLIES 124	4,200
128 PREPAID INSURANCE	2,400
131 PREPAID RENT	9,000
163 OFFICE EQUIPMENT	34,000
201 ACCOUNTS PAYABLE		600
301 K. TANNER CAPITAL		106,000
319 Dividends	5,500
403 SERVICE REVENUE		12,890
690 UTILITIES EXPENSE	435
	$119,490	$119,490

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