Chad Simpson started a mobile DJ business named Sounds on Wheels, Inc., on April 1, 2018. In the month of April, before providing services to customers, the business incurred six transactions, which have been posted to the accounts as follows:

Requirements

1. Based on the accounts, create the journal entries that resulted from the six transactions. Include explanations with each journal entry.

2. Calculate the ending balance for each account.

3. Prepare the trial balance for Sounds on Wheels, Inc., at April 30, 2018.

4. Prepare a balance sheet for Sounds on Wheels, Inc., as of April 30, 2018.

Transcribed Image Text:

Cash Supplies 400 Building 75,000| Equipment 9,000| 33,000 (4) 9,000 (2) (3) (1) (4) 7,000 (5) (6) 100 Accounts Payable Notes Payable 7,000 (3) 75,000 Common Stock 100 | (2) TM (6) 400 (5) 33,000 2)