5. Complete Accounting Cycle For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 2015, Jeff decided to move to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during Apr. 1. The following assets were received from Jeff Horton in exchange for common stock: cash, $20,000; accounts receivable, $24,700; supplies, $3,300; and office equipment, $12,000. There were no liabilities received. 1. Paid three months' rent on a lease rental contract, $6,000. 2. Paid the premiums on property and casualty insurance policies, $4,200. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, 59,400. Purchased additional office equipment on account from Smith Office Supply Co., $8,000. 6. Received cash from clients on account, $11,700. 10. Paid cash for a newspaper advertisement, $350. Paid Smith Office Supply Co. for part of the debt incurred on April 5, 56,400. 12. Recorded services provided on account for the period April 1-12, $21,900. 14. Paid receptionist for two weeks' salary, $1,650. Record the following transactions on Page 2 of the journal: Recorded cash from cash clients for fees earned during the period April 1-16, 56,600. Paid cash for supplies, 5725. Recorded service provided on account for the period April 13-20, $16,800. Recorded cash from cash clients for fees earned for the period April 17-24, $4,450. Received cash from clients an account, $26,500 27 Pald receptionist for two weeks' salary, 51,650. Pald telephone bill for April, $540. Pald electricity bill for April, $760. Recorded cash from cash clients for fees earned for the period April 25-30, 55,160. 12. 16 20 24. 26 29 30 30. 14. 18. 20. 24. 27. 30. 30. 12. Recorded services provided on account for the period April 1-12, $21,900. Paid receptionist for two weeks' salary: $1,650. Record the following transactions on Page 2 of the journal: 17. Recorded cash from cash clients for fees earned during the period April 1-16, $6,600. Paid cash for supplies, $725. Recorded services provided on account for the period April 13-20, $16,800. Recorded cash from cash clients for fees earned for the period April 17-24, S4,450. 26. Received cash from clients on account, $26,500. Paid receptionist for two weeks' salary, $1,650. 29 Pald telephone bill for April, $540, Pald electricity bill for April, $760. Recorded cash from cash clients for fees earned for the period April 25-30, $5,160. 30. Recorded services provided on account for the remainder of April, $2,590. 30. Paid dividends, $18,000. Required: 1. Journalize each transaction in a two-column journal starting on Page 1, referring to the following chart of accounts in selecting credited. If there is more than one entry on the same date, be sure to enter the transactions in the exact order as presented in the numbers in the journal at this time.) If an amount box does not require an entry, leave it blank. 31 Common Stock 12 Accounts Receivable 32 Retained Earnings 14 Supplies 33 Dividends 15 Prepaid Rent 41 Fees Earned 16 Prepaid Insurance 51 Salary Expense 18 Office Equipment 52 Supplies Expense 19 Accumulated Depreciation 53 Rent Expense 11 Cash JOURNAL PAGE 1 Date Account Title Post. Ref. Debit Credit 2016 Apr. 1 Apr. 1 Apr. 2 Apr. 4 Apr. 5 Apr. 6 Apr, 12 Apr. 14 JOURNAL PAGE 2 Date Account Title Post. Ref. Debit Credit 2016 Apr. 17 Apr. 16 Apr. 20 Apr. 24 Apr. 26 (Apr. 27 You will use the attached spreadsheet to complete several of the remaining parts of this problem. Click on the Spreadsheet icon above to open and save the Excel file to your computer. Your input into the spreadsheet will not be included in your grade in CengageNow on this problem 2. Post the transactions from part 1 to the general ledger in the attached spreadsheet. The posting must be in chronological order. Be sure to go back and enter the appropriate posting references in the Journal, 3. In the spreadsheet, prepare an unadjusted trial balance. 4. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). .. Insurance expired during Aprilis 5350 b. Supplies on hand on April 30 are $1,225 c. Depreciation of office equipment for April is $400. d. Accrued receptionist salary on April 30 is $275. Rent expired during April is $2,000. f. Uneorned fees on April 30 are $2,350 5. (Optional) in the spreadsheet, enter the unadjusted trial balance on the end-of-period work sheet and complete the work sheet. 6. Journalise the adjusting entries on Page 3 of the journal (Do not insert the account numbers in the journal at this time.) Post the adjusting entries to the general ledger in the spreadsheet. The posting must be in chronological order. Then go back and enter the appropriate posting references in the journal. JOURNAL PAGE 3 Credit Debit Post. Ref. Account Title Date 2016 Adjusting Entries a. Apr. 30 b. Apr. 30