ACCA 105 PRACTICAL QUESTION 1 VERSION D You are required to complete all three (2) problems shown below. 1. Journal Entries (12 points) - Prepare journal entries for the following transactions for January. Explanations may be omitted. 1-Apr Received cash from the investment made by the owner, $3,500. 2-Apr Received cash for providing landscaping services, S2,375 3-Apr Billed customers on account for providing services, $1,050. 4-Apr Paid advertising expense, S175 5-Apr Received cash from customers on account, 5625. 6-Apr Owner withdraws 5253 7-Apr Received telephone bill, $225. 8-Apr Paid telephone bil, $225. 2. Trial Balance (12 points) - Given the following General Ledger account balances for Grace's Plumbing Service at January 31, 2021, prepare a trial balance. Cash $6,250 Cash $6.250 Supplies 250 Supplies 250 Accounts Payable 1.750 Accounts Payable 1.750 Grace Jones, Capital 8.228 Grace Jones, Capital 1223 Wage Expense 500 wage Expense 500 Machinery 4,588 Machinery Wages Payable 900 Wages Payable 900 Service Revenue 5.250 Service Revenue 5.250 Rent Expense 2.375 Rent Espen 2275 316 Wages Payable Service Revenue Rent Expense Unearned Revenue Accum. Depreciation - Machinery Prepaid Rent Grace Jones, Drawing Machinery 900 Wages Payable 5,250 Service Revenue 2,875 Rent Expense 375 Unearned Revenue 1.835 Accum. Depreciation - Machinery 3,050 Prepaid Rent 825 Grace Jones, Drawing 4,588 900 5.250 2.875 375 1835 3,050 825 3. Closing Entries (12 points) - After all adjustments have been made, but before the accounts have been closed, the following balances were taken from the ledger of Conch Delights: Accounts Payable 6.900 Rent Expense 8.175 Accounts Receivable 16,125 Salary Expense 10,348 Accumulated Depreciation 18,331 Salarles Payable 2,038 Cash Service Revenue 46,500 Depreciation Expense 3,375 Supplies 375 Equipment 41.250 Supplies Expense 625 Insurance Expense 628 Sam Farrington, Capital 24,988 Prepaid Insurance 1,569 Sam Farrington, Drawing 12.000 Accounts Payable 6.900 Rent Expense 8,175 Accounts Receivable 16,125 Salary Experte 10,348 Accumulated Depreciation 18,331 Salaries Payable 2,038 Cash 4,283 Service Revenue 46,500 Depreciation Expense 3,375 Supplies 375 Equipment 41,250 Supplies Expense 625 In Expes 698 Som Farrington, Capital 24.981 Perpaduan 1.569 Sam Farrington, Drawing 12.000 Required: Prepare the appropriate closing entries for Conch Delights