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Analyze the following transactions for Alpha Corporation for the month of April and prepare the General Ledger accounts, Trial Balance, and Income Statement. Date Account
Analyze the following transactions for Alpha Corporation for the month of April and prepare the General Ledger accounts, Trial Balance, and Income Statement.
Date | Account Title | Debit ($) | Credit ($) |
Apr 1 | Cash | 50,000 | |
Apr 5 | Purchases | 20,000 | |
Apr 10 | Sales Revenue | 60,000 | |
Apr 15 | Rent Expense | 7,000 | |
Apr 20 | Accounts Payable | 10,000 | |
Apr 25 | Utilities Expense | 2,000 | |
Apr 30 | Depreciation Expense | 1,800 |
Calculate the Trial Balance, Income Statement, and Taxes assuming a tax rate of 25%.
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