Complete Accounting Cycle For the past several years, Jeff Horton has operated a part time consulting business from his home As of April 1, 20Y6, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full time basis Rosebud entered into the following transactions during April Apr 1 The following assets were received from Jeff Horton in exchange for common stock cash, $20,000 accounts receivable, $14,700 supplies, $3,300 and office equipment, $12,000 There were no liabilities received 1 Paid three months rent on a lease rental contract, $6,000 2 Paid the premiums on property and casualty insurance policies, $4,200 4 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400 5 Purchased additional office equipment on account from Smith Office Supply Co , $8,000 6 Received cash from clients on account, $11,700 10 Paid cash for a newspaper advertisement, $350 12 Paid Smith Office Supply Co for part of the debt incurred on April 5, $6,400 12 Recorded services provided on account for the period April 112, $21,900 14 Paid receptionist for two weeks salary, $1,650 Record the following transactions on Page 2 of the journal 17 Recorded cash from cash clients for fees earned during the period April 116, $6,600 18 Paid cash for supplies, $725 20 Recorded services provided on account for the period April 1320, $16,800 24 Recorded cash from cash clients for fees earned for the period April 1724, $4,450 26 Received cash from clients on account, $26,500 27 Paid receptionist for two weeks salary, $1,650 29 Paid telephone bill for April, $540 30 Paid electricity bill for April, $760 30 Recorded cash from cash clients for fees earned for the period April 2530, $5,160 30 Recorded services provided on account for the remainder of April, $2,590 30 Paid dividends, $18,000 Required 1 Journalize each transaction in a two column journal starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited If there is more than one entry on the same date, be sure to enter the transactions in the exact order as presented in the data (Do not insert the account numbers in the journal at this time ) If an amount box does not require an entry, leave it blank 11 Cash 31 Common Stock 12 Accounts Receivable 32 Retained Earnings 14 Supplies 33 Dividends 15 Prepaid Rent 41 Fees Earned 16 Prepaid Insurance 51 Salary Expense 18 Office Equipment 52 Supplies Expense 19 Accumulated Depreciation 53 Rent Expense 21 Accounts Payable 54 Depreciation Expense 22 Salaries Payable 55 Insurance Expense 23 Unearned Fees 59 Miscellaneous Expense JOURNAL PAGE 4 Date Account Title Post Ref Debit Credit 2016 10 Prepare a post closing trial balance List the accounts in order by type Assets, Liabilitles, Capital, Dividends, Revenue, and expenses If an amount box does not require an entry, leave it blank Rosebud Consulting Post Closing Trial Balance April 30, 20Y6 Debit Credit Balances Balances Rowd Con SADECE al Care 3, 3 , 20 wa w COM WWW THIS ACC 211 Final Exam PAGE 1 JOURNAL Account Title Date Post Ref Debit Credit 2016 Apr 1 Cash Accounts Receivable Supplies Office Equipment Common Stock 120,00 1 14,70 13,300 1 12,00 50,00 Apr 1 6,000 Prepaid Rent Cash 6,000 Apr 2 4,200 Prepaid Insurance Cash 4,200 Apr 4 Cash Unearned Fees 9,400 9,400 Apr 5 Office Equipment Accounts Payable 1 3,000 8,000 Apr 6 Cash Accounts Receivable 11,70 11,70 350 Apr 10 Miscellaneous Expense Cash 350 Apr 12 Accounts Payable Cash 6,400 6,400 21,90 Apr 12 Accounts Receivable Fees Earned 21,90 Apr 14 Salary Expense 1,650 Cash 1 1,650 JOURNAL PAGE 2 Amaata peater time naa e terms an NFTE S428 PATHI Mai) im LILL 20 LIL JOURNAL PAGE 4 Date Account Title Post Ref Debit Credit 2016 10 Prepare a post closing trial balance List the accounts in order by type Assets, Liabilitles, Capital, Dividends, Revenue, and expenses If an amount box does not require an entry, leave it blank Rosebud Consulting Post Closing Trial Balance April 30, 20Y6 Debit Credit Balances Balances Rowd Con SADECE al Care 3, 3 , 20 wa w COM WWW THIS ACC 211 Final Exam PAGE 1 JOURNAL Account Title Date Post Ref Debit Credit 2016 Apr 1 Cash Accounts Receivable Supplies Office Equipment Common Stock 120,00 1 14,70 13,300 1 12,00 50,00 Apr 1 6,000 Prepaid Rent Cash 6,000 Apr 2 4,200 Prepaid Insurance Cash 4,200 Apr 4 Cash Unearned Fees 9,400 9,400 Apr 5 Office Equipment Accounts Payable 1 3,000 8,000 Apr 6 Cash Accounts Receivable 11,70 11,70 350 Apr 10 Miscellaneous Expense Cash 350 Apr 12 Accounts Payable Cash 6,400 6,400 21,90 Apr 12 Accounts Receivable Fees Earned 21,90 Apr 14 Salary Expense 1,650 Cash 1 1,650 JOURNAL PAGE 2 Amaata peater time naa e terms an NFTE S428 PATHI Mai) im LILL 20 LIL

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Complete Accounting Cycle For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 20Y6, Jeff

Complete Accounting Cycle

For the past several years, Jeff Horton has operated a part-time consulting business from his home. As of April 1, 20Y6, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during April:

Apr. 1.		The following assets were received from Jeff Horton in exchange for common stock: cash, $20,000; accounts receivable, $14,700; supplies, $3,300; and office equipment, $12,000. There were no liabilities received.
1.		Paid three months rent on a lease rental contract, $6,000.
2.		Paid the premiums on property and casualty insurance policies, $4,200.
4.		Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400.
5.		Purchased additional office equipment on account from Smith Office Supply Co., $8,000.
6.		Received cash from clients on account, $11,700.
10.		Paid cash for a newspaper advertisement, $350.
12.		Paid Smith Office Supply Co. for part of the debt incurred on April 5, $6,400.
12.		Recorded services provided on account for the period April 112, $21,900.
14.		Paid receptionist for two weeks salary, $1,650.

Record the following transactions on Page 2 of the journal:
17.		Recorded cash from cash clients for fees earned during the period April 116, $6,600.
18.		Paid cash for supplies, $725.
20.		Recorded services provided on account for the period April 1320, $16,800.
24.		Recorded cash from cash clients for fees earned for the period April 1724, $4,450.
26.		Received cash from clients on account, $26,500.
27.		Paid receptionist for two weeks salary, $1,650.
29.		Paid telephone bill for April, $540.
30.		Paid electricity bill for April, $760.
30.		Recorded cash from cash clients for fees earned for the period April 2530, $5,160.
30.		Recorded services provided on account for the remainder of April, $2,590.
30.		Paid dividends, $18,000.

Required:

1. Journalize each transaction in a two-column journal starting on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. If there is more than one entry on the same date, be sure to enter the transactions in the exact order as presented in the data. (Do not insert the account numbers in the journal at this time.) If an amount box does not require an entry, leave it blank.

11	Cash	31	Common Stock
12	Accounts Receivable	32	Retained Earnings
14	Supplies	33	Dividends
15	Prepaid Rent	41	Fees Earned
16	Prepaid Insurance	51	Salary Expense
18	Office Equipment	52	Supplies Expense
19	Accumulated Depreciation	53	Rent Expense
21	Accounts Payable	54	Depreciation Expense
22	Salaries Payable	55	Insurance Expense
23	Unearned Fees	59	Miscellaneous Expense

JOURNAL PAGE 4 Date Account Title Post Ref. Debit Credit 2016 10. Prepare a post closing trial balance. List the accounts in order by type: Assets, Liabilitles, Capital, Dividends, Revenue, and expenses. If an amount box does not require an entry, leave it blank. Rosebud Consulting Post-Closing Trial Balance April 30, 20Y6 Debit Credit Balances Balances Rowd Con SADECE al Care 3, 3%, . 20 wa w COM WWW.THIS ACC 211 Final Exam PAGE 1 JOURNAL Account Title Date Post. Ref. Debit Credit 2016 Apr. 1 Cash Accounts Receivable Supplies Office Equipment Common Stock 120,00 1 14,70 13,300 1 12,00 50,00 Apr. 1 6,000 Prepaid Rent Cash 6,000 |Apr. 2 4,200 Prepaid Insurance Cash 4,200 |Apr. 4 Cash Unearned Fees 9,400 9,400 Apr. 5 Office Equipment Accounts Payable 1 3,000 8,000 Apr. 6 Cash Accounts Receivable 11,70 11,70 350 Apr. 10 Miscellaneous Expense Cash 350 Apr. 12 Accounts Payable Cash 6,400 6,400 21,90 Apr. 12 Accounts Receivable Fees Earned 21,90 Apr. 14 Salary Expense 1,650 Cash 1 1,650 JOURNAL PAGE 2 | Amaata peater time naa e terms an . NFTE S428 PATHI Mai) . im LILL 20 - - LIL || JOURNAL PAGE 4 Date Account Title Post Ref. Debit Credit 2016 10. Prepare a post closing trial balance. List the accounts in order by type: Assets, Liabilitles, Capital, Dividends, Revenue, and expenses. If an amount box does not require an entry, leave it blank. Rosebud Consulting Post-Closing Trial Balance April 30, 20Y6 Debit Credit Balances Balances Rowd Con SADECE al Care 3, 3%, . 20 wa w COM WWW.THIS ACC 211 Final Exam PAGE 1 JOURNAL Account Title Date Post. Ref. Debit Credit 2016 Apr. 1 Cash Accounts Receivable Supplies Office Equipment Common Stock 120,00 1 14,70 13,300 1 12,00 50,00 Apr. 1 6,000 Prepaid Rent Cash 6,000 |Apr. 2 4,200 Prepaid Insurance Cash 4,200 |Apr. 4 Cash Unearned Fees 9,400 9,400 Apr. 5 Office Equipment Accounts Payable 1 3,000 8,000 Apr. 6 Cash Accounts Receivable 11,70 11,70 350 Apr. 10 Miscellaneous Expense Cash 350 Apr. 12 Accounts Payable Cash 6,400 6,400 21,90 Apr. 12 Accounts Receivable Fees Earned 21,90 Apr. 14 Salary Expense 1,650 Cash 1 1,650 JOURNAL PAGE 2 | Amaata peater time naa e terms an . NFTE S428 PATHI Mai) . im LILL 20 - - LIL ||