Be careful-files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View TION Word couldn't verify your Microsoft 365 subscription. Please make sure that you're connected to the Internet. NUUIUIVIILULU UTINE TEISE Enable Editing Retry Queenie Kapiolani completed these business transactions in June 2020: June 1 1 Began a surfboard repair business by investing $12,000 in cash and surfboard repair equipment having a $3,600 fair value. Rented the furnished shop of a surfboard repairman who was retiring to cultivate crops on Maui and paid the rent for June, $900. Purchased surfboard repair equipment costing $4,600 under an agreement calling for a $1,500 down payment and the balance in monthly instalments to be paid from Accounts Payable. 2 5 6 8 12 Purchased repair supplies on account, $1,760. Took out a surfboard injury insurance policy giving one year's protection and paid the premium for just the month of June, $325. Completed work for clients and immediately collected $2,150 for the work done. Paid for the repair supplies purchased on account on June 5. Joe Kahuna brought in his surfboard for its annual maintenance. Kapiolani did the work on account for a total of $250. Kapiolani was able to take a $800 cash drawing. She did so on this day to purchase some hydroponic grow equipment for her personal residence. Dannbundenen fram Inn Mann farth namneta bunn 10 D'Focus 16 22 LO O Vord couldn't verify your Microsoft 365 subscription. Please make sure that you're connected to the Internet. co it's safer to stay in Protected View Enable Editing Retry 16 Joe Kahuna brought in his surfboard for its annual maintenance. Kapiolani did the work on account for a total of $250. 22 Kapiolani was able to take a $800 cash drawing. She did so on this day to purchase some hydroponic grow equipment for her personal residence. 24 Received $250 from Joe Kahuna for the work completed June 16. 26 Completed work for clients on account, $3,440. 30 Paid the telephone bill for June, $115. 30 Paid the salary of the shop receptionist, $1,150. 30 Prepaid the rent on the office for July and August, $1,800. 30 Prepaid the injury insurance premium for the next two months, $650. 2 Focus Word couldn't verify your Microsoft 365 subscription. Please make sure that you're connected to the Internet Retry ASSIGNMENT 1 - CHAPTER 2 continued REQUIRED: (1) Open the following T-accounts Cash Accounts Receivable Surfboard Repair Supplies Prepaid Insurance Prepaid Rent Surfboard Repair Equipment Accounts Payable Capital, Queenie Kapiolani Withdrawals, Queenie Kapiolani Surfboard Repair Fees Earned Insurance Expense Rent Expense Salaries Expense Telephone Expense (2) Prepare general journal entries in good form to record the transactions in the General Journal. Omit Explanations (3) Enter the journal entries in the T- Accounts (4) Prepare a trial balance headed "Queenie Kapiolani Proprietor". KEY NUMBERS D) Focus search