1 Transactions for April 2018 2 3 1 On April 1. 2018, Redmond Company, an information technology (IT) consulting company received $650 000 cash from the owner, Ron Larson 4 5 2 On April 3, Redmond paid $225,000 cash for land 6 7 3 Redmond purchased $1250 of office supplies on account on April 5. 8 9 4 On April 6, Redmond provided IT consulting services for a client and collected $12,000 cash, 10 11 5 Redmond provided IT consulting services of $14,000 for clients on April 7. The clients will pay Redmond in the future 12 13 6 Redmond paid cash expenses on April 10 salaries of $8,000 and office rent of $5,000 14 15 7 On April 12, Redmond paid $750 on the accounts payable created in Transaction #3 16 17 8 Redmond collected $3,000 cash on April 14 from a client in transaction 5 18 19 9 On April 16 Ron Larson withdrew $2.500 cash 20 21 10 On April 18, Redmond prepaid office rent of $15,000 for the months of May June and July 22 23 11 Redmond paid $8,000 salaries to employees on April 20 24 25 12 Redmond purchased a building for $520,000 on April 25 A note payable was issued for the entire amount 26 27 13 On April 26. Redmond received a contribution of furniture with a fair market value of $25.000 from Ron Larson 2B 29 14 Redmond received a cell phone bill for $1 100 on Apnl 28 and will pay this amount in May. Use Utilities Payable 30 31 15 on April 30 Redmond paid employee salaries of $8,000 32 33 16 Redmond meets with a client on April 30 who pays $22.000 in advance for consulting services to be performed during May and June 34 35 17 On April 30, Redmond performed consulting services clients and received 516000 in cash 36 Instructions Transactions Journal Entries T-Accounts Trial Balance Income Statement Statement of OE Balance Sheet fo C E G Income Statement Revenues Hint: Click inside this cell, type an equals sign E), click on the Service Revenue amount in the Trial Balance, then press the Enter key. Expenses Total Expenses A B D G E Statement of Owner's Equity 7 X fox A D Account Title Cash Accounts Receivable Office Supplies 5 Prepaid Rent 7 Land 3 Building 9 Furniture 10 Accounts Payable 11 Utilities Payable 12 Unearned Revenue 13 Notes Payable 14 Larson, Capital 15 Larson, Withdrawals 16 Service Revenue 17 Rent Expense 18 Salaries Expense 19 Utilities Expense 20 TOTALS 21 22 23 24 25 B TRIAL BALANCE Debit Credit 437,000 14,000 1.250 0 225.000 0 0 1.250 0 0 0 650.000 0 26.000 0 677 250 677.250 NNNN 27 28 29 30 21 Instructions Transactions Journal Entries T-Accounts