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Assignment #4: Chapter 4 Chapter 4: Exercise 5 (pp. 133-134) On February 1, M. Conway, an architect, opened a business. A chart of accounts for the business is given on the next page. a. Journalize the February transactions using accounts from the chart of accounts. b. Open ledger accounts using account titles and numbers from the chart of accounts. c. Post the general journal entries. d. Prepare a trial balance. e. Prepare an income statement. f. Prepare a balance sheet. 100 Cash 300 M. Conway, Capital d. Prepare a trial balance. e. Prepare an income statement. f. Prepare a balance sheet. 100 Cash 101 Accounts Receivable/Bakos Contractors 141 Office Equipment 142 Automobile 200 Accounts Payable/Ajax Motors 300 M. Conway, Capital 400 Fees Earned 507 Rent Expense 508 Salaries Expense 510 Telephone Expense Feb. 1 2 3 4 5 M. Conway invested $40 000 cash in an architectural consulting business. Bought office equipment, $6000, Cheque 1. Bought an automobile for the business from Ajax Motors Ltd. on credit: The price of the car was $28 000, Invoice 7469. Received $1500 for services provided to a customer, Sales Slip 1. Sent Invoice 1 for $1000 to Bakos Contractors for architectural services provided. Paid the February rent, $1600, Cheque 2. Paid office salaries, $1450, Cheque 3. Paid $150 for the installation of a telephone, Cheque 4. 5 5 5