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1 Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. eBook Print April 1

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1 Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. eBook Print April 1 Tanner invested $120,000 cash along with office equipment valued at $28,800 in the company in exchange for common stock. 2 The company prepaid $7,200 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $7,200. 3 The company made credit purchases for $14,400 in office equipment and $2,880 in office supplies. Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed a $9,600 project for a client, who must pay within 30 days. 13 The company paid $17,280 cash to settle the account payable created on April 3. 19 The company paid $6,000 cash for the prenium on a 12-month insurance policy. Wint: Debit Prepaid Insurance for $6,000. 22 The company received $7,680 cash as partial payment for the work completed on April 9. 25 The company completed work for another client for $2,640 on credit. 28 The company paid a $6,200 cash dividend. 29 The company purchased $960 of additional office supplies on credit. 30 The company paid $700 cash for this month's utility bill. Required: 1. Prepare general Journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106): Office Supplies (124); Prepaid Insurance (128). Prepaid Rent (131): Office Equipment (163): Accounts Payable (201): Common Stock (307): Dividends (319); Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of April 30. LINKWORKS Trial Balance April 30 Debit Credit 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance $ 0 $ Total

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