Question

The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019. Credit April 1 balances: Cash Accounts receivable Prepaid rent Unused supplies Accounts payable Common stock Debit 5,000 5,000 200 500 4,000 6,700 Required: 1 Prepare journal entries to record the April transactions shown on the "Transactions" page (see tab below). Include general ledger account numbers. 2 Post the transactions to the T-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

Answer 1

Accounts Receivable $ 1.000.00 $ 100.00 $1,000.00 $ 1.000.00 Beginning balance Accounts lleceivable Accounts Receivable Accounts Receivable Service Ravenue $ 1,000.00 $5,000.00 Advertising Expenses $1.000,00 Salaries Expenses $2,900.00 Telephane Expenses Accounts Payable Dividend Ending Balance $8.900.00 TOTAL Advertising Expenses Salaries Expenses Telephone Expenses $ 800.00 $ 200.00 $5,800.00 $ $ 1.000.00 500.00 TOTAL $ 1.600.00 Accounts Receivable Accounts Payable Beginning balance $1,000.00 $5,000.00 Cash $1,000.00 Cash $ 500.00 Truck Operating Expenses Accounts Payable $ 500.00 Ending Balance $8,000.00 TOTAL $4,100.00 S8,000.00 S 2.900.00 Accounts Receivable $ 2,900.00 Prepaid Rent $ 2.000.00 DR Accounts Reccivable Service Revenue S 2,000.00 Beginning balance IS 0.00 S 200.00 Rent Expenses Endine Ralance $ 200.00 TOTAL $ 0.00 Rent Expenses Prepaid Hent $ 0.00 Unused Supplies Supplies Expenses $500-$300 IS200,00 Unused Supplies $ 200.00 Beginning balance $ 500.00 Supplies Expenses Ending Balance $ 500.00 TOTAL $ 200.00 $ 300.00 $ 500.00 700.00 Dividend Cash I$ T $ 700.00 Accounts Payable $4,000.CO $ 500.00 Accounts Title Credits Trial Balance: Debit $ 5,200.00 $ 4,100.00 $ 300.00 Beginning balance Truck Operating Expenses $3,700.00 $4,500.00 TOTAL $4,500.00 unused Supplies $ 3,200.00 Common Stuck SG.700.00 Revenue Adver exp $ 100.00 dine Balance Beginning balance $0,700.00 Sb./00.00 TOTAL $6,200.00 $ 500.00 Service Revenue Telep exp Repal exp Rent exp Supply exp Dividend Total Accounts Receivable $1,000.00 $ 2.000.00 IS 200.00 $13400.00 $13,500.00 $3.000.00 $3,000.00 TOTAL $3,000.00 Income Statement: Advertising Expenses DR $ 100.00 Revenues $ $ 100.00 100.00 S 100.00 TOTAL Advert Salaries Telephone Repair S $ 500.00 500.00 supplies Balance $1,000.00 TOTAL $1,000.00 $1,000.00 Net $ 2.360.00 $ 540.00 Telephone Expenses Statement of Iquity changes: $ 500.00 $ 500.00 Is 500.00 $ 500.00 TOTAL Add during April Less during April $ 6,700.00 $ $ - $ S 6,700.00 S - 640.00 200.00 -50.00 Total $0,700.00 $ 640.00 S-700.00 $6,640.00 Truck Operating expenses Accounts Payable IS 500.00 Balance TOTAL $ 500.00 $ 500.00 TOTAL S 500.00 Balance Shept on April 30: Amounts Assets: Rent Expenses Prepaid Rent $ 0.00 S 4.100.00 $ 140.00 | Prepaid Hent Unused Supplies Balance TOTAL TOTAL S 60.00 $ 50.00 S 10.340.00 Supplics Expenses Fixed Assets Total Assets $10,340.00 unused Supalies $ Amount $ Llabilities and Capital Current Liabilities AP 200.00 Balance 200.00 TOTAL $ $ 200.00 Total Liabilities and Capital $ 5,640.00 $10,340.00 Dividend Rience S 700.00 TOTAL $ 200.00