On April 2, the company prepaid $9,000 cash for twelve months' rent for office space. Prepare the required adjusting entry, if any.

The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy; the policy's coverage began on April 1. Prepare the required adjusting entry, if any.

Office supplies on hand as of April 30 total $1,200. Prepare the required adjusting entry, if any.

Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 salvage value, is $500 per month. Prepare the required adjusting entry, if any.

The company has completed work for a client, but has not yet billed the $1,800 fee. Prepare the required adjusting entry, if any.

Wages due to employees, but not yet paid, as of April 30 total $2,600. Prepare the required adjusting entry, if any.

• 101: Cash
• 106: Accounts receivable
• 124: Office supplies
• 128: Prepaid insurance
• 131: Prepaid rent
• 163: Office equipment
• 164: Accumulated depreciation - Office equipment
• 201: Accounts payable
• 204: Wages payable
• 307: Common stock
• 318: Retained earnings
• 319: Dividends
• 403: Services revenue
• 501: Rent expense
• 502: Insurance expense
• 503: Office supplies expense
• 505: Wages expense
• 510: Depreciation expense - Office equipment
• 690: Utilities expense

  
 

Karla Tanner opened a web consulting business called Linkworks and recorded the following transactions in its first month of operations. Apr. 1 Tanner invests $80, e00 cash along with office equipment valued at $26,900 in the company in exchange for common stock. Apr. 2 The company prepaid $9,00e cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. 3 The company made credit purchases for $8,8ee in office equipment and $3, 600 in office supplies. Payment is due within 1e days. Apr. 6 The company completed services for a client and immediately received $4, e00 cash. 9 The company completed a $6, e09 project for a client, who must pay within 30 days. Apr. Apr. Apr. 13 The company paid $11,680 cash to settle the account payable created on April 3. Apr. 19 The company paid $2,400 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. Apr. 22 The company received $4,400 cash as partial payment for the work completed on April 9. Apr. 25 The company completed work for another client for $2,898 on credit. Apr. 28 The company paid $5, 500 cash in dividends. Apr. 29 The company purchased $680 of additional office supplies on credit. Apr. 30 The company paid $435 cash for this month's utility bill. Descriptions of Items that requlre adjusting entries on April 30, follow. a) On April 2, the company prepaid $9.000 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,200. d) Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 salvage value., is $500 per month. e) The company has completed work for a client, but has not yet billed the $1,800 fee. f) Wages due to employees, but not yet paid, as of April 30 total $2,600.