arla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations.

April

1

Tanner invested $80,000 cash along with office equipment valued at $26,000 n the company.

2

The company prepaid $9,000 cash for 12 months rent for office space. (Hint: Debit Prepaid Rent for $9,000.)

3

The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. 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 months utility bill.

Required:

1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); Tanner, Capital (301); K. Tanner withdrawals (302); Services Revenue (403); and Utilities Expense (690).

2. Post the journal entries from part 1 to the ledger accounts.

3. Prepare a trial balance as of April 30.

Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); K. Tanner, capital (301); withdrawals (302); Services Revenue (403); and Utilities Expense (690).