Accounts Incorrectly States Ascar Overor Understated PROBLEM SET A Rent Expense understated $2.250 Problem 2.1A Preparing and posting journal entries, preparing a trial balance C3 C4 A1 P1 P2 connect Karla Tanner opened a web consulting business called Linkworks and completed the following transac tions in its first month of operations April Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company 2 The company prepaid $9,000 cash for 12 months' rent for office space inr: Debit Prepaid Rent for $9.000.) 3 The company made credit purchases for $8,000 in office equipment and $3,600 in office sup. plies. Payment is due within 10 days. 6 The company completed services for a client and immediately received $4.000 cash. 9 The company completed a $6,000 project for a client, who must pay within 30 days 13 The company paid $11,600 cash to settle the account payable created on April 3. 19 The company paid $2.400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $2,400.) 22 The company received $4,400 cash as partial payment for the work completed on April 9. 25 The company completed work for another client for $2.890 on credit. 28 Tanner withdrew $5,500 cash from the company for personal use. 29 The company purchased $600 of additional office supplies on credit. 30 The company paid $435 cash for this month's utility bill. 26 86 Principles of Accounting! Chapter 2 Analyzing and Recording Transactions Required 1. Prepare general journal entries to record these transactions (use account titles listed in part 2). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance col- unin format: Cash (100) Accounts Receivable (106, Office Supplies (124). Prepaid Insurance (128); Prepaid Reat (131% Office Equipment (163) Accounts Payable (201), K. Tanner, Capital (301): K. Tanner, Withdrawals (303) Services Revenue (403) and Utilities Expense (690). Post journal entries from part to the ledger accounts and enter the balance after each posting. 3. Prepare a trial balance as of April 30 Check tros ces co Accoy