Given the following Trial Balance at 12/31/2013 Credit Debit 60,000 3,000 10,000 140,000 45 000 80,000 10,000 10,000 Trial Balance @ 12/31/2013 Account Cash Property Tax Expense Supplies Service Revenue Equipment Building Accumulated Depreciation Dividends Interest Payable Utilities Expense Retained Earnings (Beginning) Common Stock Accounts Payable Notes Payable Salary Expense Rent Expense Land Accounts Receivable Interest Expense Totals 5,000 7,000 25,000 35,000 35,000 50,000 35,000 12,000 20,000 15,000 3,000 300,000 300,000 1 Create an Income Statement for 2013 in the Space Below Title Page of 5 2 Create a statement of retained earnings for 2013 3 Create a Balance Sheet in the space below SFM ED U search 3 C Download A Alten Pages > of 5 b d e f h 4 AAA Tax Service opens their business on April 1 and have the following transactions in the month 4/1 The company founder invests S100 000 and becomes the company's only shareholder 42 The Company pays cash for a 12 month insurance policy 24.000 Effective 4/1 - 331ext year 4/2 The company buys 4 computers for total cost $12.000, paying 2,000 cash and 10,000 on account 4/8 The company's first customer pays cash of $5000 for tax service 4/12 More tax service is performed for customers on account for $9000 4/14 The company buys supplies that will be used for several months. This costs $6,000 on account 4/15 The company pays payroll expense of $3,500 4/25 The company collects 4,000 from customers for service just completed in e above on 4/12 4/27 The company pays $3,000 for the first months rent expense 4/26 The company receives $5,000 cash for tax work for a customer. Work will be done next Month 428 The company pays the amount owed for the 4 computers bought on 4/2 above (510,000) 4/30 The company pays a dividend of $1,500 for the month Adjustments 4/30 Create the depreciation entry for the month for the computers $300 per month 4/30 Make the adjustment entry for one month of insurance for the insurance purchased on 4/2 4/30 They rush and complete half the job for the customer in jabove. Create the entry to recognize half of the revenue 4/30 A count of the supplies shows a total of $2,500 remaining in supplies Describe each of the above with a Journal entry include the date Date Account Debit Credit Suggested Chart of Accounts Cash Accounts Receivable Prepaid Insurance Supplies Computer & Office Equipment Accumulated Depreciation Accounts payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Expense Payroll Expense Insurance Expense Depreciation Expense Supplies Expense k 1 ECO S2F Mod Describe each of the above with a Journal entry include the date Date Account Debit Credit 5 Prepare T-accounts for the accounts above and post all transactions for April CASH HH 6 Create the Trial Balance in the space below 7 Create an income statement for the month in the space below
