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AssignmentSessionLocator &inprogress... A Entries into T accounts and Trial Balance Ken Jones, an architect, opened an office on April 1, 2014. During the month, he
AssignmentSessionLocator &inprogress... A Entries into T accounts and Trial Balance Ken Jones, an architect, opened an office on April 1, 2014. During the month, he completed the following transactions connecte with his professional practice: a. Transferred cash from a personal bank account to an account to be used for the business, $18,000. b. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder. c. Paid April rent for office and workroom, $3,150. d. Paid cash for supplies, $1,450. e. Purchased office and computer equipment on account, $6,500. f. Paid cash for annual insurance policies on automobile and equipment, $2,400. g. Received cash from a client for plans delivered, $12,000. h. Paid cash to creditors on account, $1,800. 1. Paid cash for miscellaneous expenses, $375. j. Received invoice for blueprint service, due in May, $2,500. k. Recorded fees earned on plans delivered, payment to be received in May, $15,650. 1. Paid salary of assistant, $2,800. m. Paid cash for miscellaneous expenses, $200. n. Paid $300 on note payable. o. Paid gas, oil, and repairs on automobile for April, $550. Required: 1. Record the above transactions (in chronological order) directly in the following T accounts without journalizing: Cash; Accom Receivable; Supplies; Prepaid Insurance; Automobiles; Equipment; Accounts Payable; Notes Payable; Ken Jones, Capital; Professional Fees; Rent Expense; Salary Expense; Blueprint Expense; Automobile Expense; Miscellaneous Expense. To the left progress... A the accounts, select the appropriate letter to identify the transaction. 2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insuram need a balance. Bal. Cash Accounts Receivable Feedback Check My Work 3. The trial balance lists the ending balance of each account in a corresponding Debit or Credit column. The trial balance column totals should be equal. 4. Determine the net income or net loss for April. Net income Feedback Check My Work 4. Recall that Revenue Expenses = Net Income (Loss). Unadjusted Trial Balance April 30, 20Y4 Debit Credit Balances Balances Bal. Salary Expense Blueprint Expense Automobile Expense Miscellaneous Expense Bal. Ken Jones, Capital Professional Fees Bal. Rent Expense
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