Question

Before you begin, print out all the pages in this workbook. The following balances appeared in thegeneral ledger accounts of Fenton Table Rentals Corporation at April 1, 2019. Debit Credit Cash Accounts receivable Prepaid rent Unused supplies Accounts payable Common stock 5,000 5,000 200 500 4,000 6,700 Required: 1 Preparejournal entries to record the April transactions shown on the Transactions" page (see tab below). Include general ledger account numbers. 2 Post the transactions to theT-accounts 3 Prepare a trial balance at April 30, 2019. 4 Prepare an interim income statement and statement of changes in equity for the month ended April 30, 2019 and interim balance sheet at

Answer 1

1	Fenton Table Rentals
	Account tittle	Debit $	Credit $
a.	Cash	1000
	Accounts Receivable		1000
b	Accounts Receivable	1000
	Service Revenue		1000
c	Advertising Expenses	100
	Salaries Expenses	1000
	Telephone Expenses	500
	Cash		1600
d	Accounts Payable	800
	Cash		800
e	Truck Operating Expenses	500
	Accounts Payable		500
f	Cash	2900
	Accounts Receivable		2900
g	Accounts Receivable	2000
	Service Revenue		2000
h	Rent Expenses	60
	Prepaid Rent		60
i	Supplies Expenses ( $ 500 - $ 300 )	200
	Unused Supplies		200
j	Dividend	700
	Cash		700

Cash
	Debit $		Credit $
Beginning balance	5000	Advertising Expenses	100
Accounts Receivable	1000	Salaries Expenses	1000
Accounts Receivable	2900	Telephone Expenses	500
		Accounts Payable	800
		Dividend	700
		Ending Balance	5800
TOTAL	8900	TOTAL	8900
Accounts Receivable
	Debit $		Credit $
Beginning balance	5000	Cash	1000
Service Revenue	1000	Cash	2900
Service Revenue	2000
		Ending Balance	4100
TOTAL	8000	TOTAL	8000
Prepaid Rent
	Debit $		Credit $
Beginning balance	200	Rent Expenses	60
		Ending Balance	140
TOTAL	200	TOTAL	200
Unused Supplies
	Debit $		Credit $
Beginning balance	500	Supplies Expenses	200
		Ending Balance	300
TOTAL	500	TOTAL	500
Accounts Payable
	Debit $		Credit $
Cash	800	Beginning balance	4000
		Truck Operating Expenses	500
Ending Balance	3700
TOTAL	4500	TOTAL	4500
Common Stock
	Debit $		Credit $
		Beginning balance	6700
Ending Balance	6700
TOTAL	6700	TOTAL	6700
Service Revenue
	Debit $		Credit $
		Accounts Receivable	1000
		"	2000
Balance	3000
TOTAL	3000	TOTAL	3000
Advertising Expenses
	Debit $		Credit $
Cash	100
		Balance	100
TOTAL	100	TOTAL	100
Salaries Expenses
	Debit $		Credit $
Cash	1000
		Balance	1000
TOTAL	1000	TOTAL	1000
Telephone Expenses
	Debit $		Credit $
Cash	500
		Balance	500
TOTAL	500	TOTAL	500
Truck Operating expenses
	Debit $		Credit $
Accounts Payable	500
		Balance	500
TOTAL	500	TOTAL	500
Rent Expenses
	Debit $		Credit $
Prepaid Rent	60
		Balance	60
TOTAL	60	TOTAL	60
Supplies Expenses
	Debit $		Credit $
Unused Supplies	200
		Balance	200
TOTAL	200	TOTAL	200
Dividend
	Debit $		Credit $
Cash	700
		Balance	700
TOTAL	700	TOTAL	700

Income Statement
	$	$
Service Revenue		3000
Less: Operating expenses;
Advertising Expenses	100
Salaries Expenses	1000
Telephone Expenses	500
Truck Operating Expenses	500
Rent Expenses	60
Supplies Expenses	200
total operating expenses		-2360
Net income		640
Statement of equity
	$
Common Stock	6700
Retained Earnings;
Net income	640
less: Dividend	-700
Ending balance of equity	6640

Balance Sheet
Equity and liabilities	$	Assets	$
Owner's equity	6640	Current Assets;
		Cash	5800
		Accounts Receivable	4100
Accounts Payable	3700	Prepaid Rent	140
		Unused Supplies	300
TOTAL	10340	TOTAL	10340