Complete accounting cycle For the past several years, Jeft 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. Plosebud entered into the following transactions during April: Apr. 1. The following assets were received from Jeff Horton as an investment in the business: 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 annual premiums on property and casualty insurance policies, $4,200. 4. Recelved 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. Recelved 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 1-12, $21,900. 14. Paid receptionist for two weeks' salary, $1,650. Record the following transactions on Page 2 of the journal: Apr. 17. Recorded cash from cash clients for fees eamed during the period April 1-16, \$6,600. 18. Paid cosh for supplies, $725. 20. Recorded services provided on account for the period Aprit 13-20, $16,800. 24. Recorded cash from cash clients for fees earned for the period April 17-24, \$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. Apc. 17. Reconded cash from cash clients for fees earned during the period April 116,56,600. 18. Paid cash for supplies, $725. 20. Recorded services provided on account for the period April 13-20, $16,800. 24. Recorded cash from cash clients for fees earned for the period April 17-24, 54,450 . 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 cash to Jeff Horton for personal use, $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 transoctions 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. 11cosh 12 Accounts Receivable 14 Supplies 15 Prepaid Rent 16 Prepaid Insurance 18 office Equipment 19 Accumulated Depreciation 21 Accounts Payable 22 Salaries Payable 23 Unearned Fees 31 Jeff Horton, Capital 32 Jeff Horton, Drawing 41 Fees Earned 51 Salary Expense 52 Supplies Expense 53 Rent Expense 54 Depreciation Expense 55 Insurance Expense 59 Miscellaneous Expense Journal \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{3}{|c|}{ Journal } & \multicolumn{2}{|c|}{ PAGE 1} \\ \hline Date & Account Titie & Post. Ref. & Debit & Credit \\ \hline \multirow[t]{5}{*}{ Apr, 1, 20Y6} & & & & \\ \hline & = & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Apr. 1, 20Y6} & & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Apr: 2,20Y6} & & & & \\ \hline & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline Date & Account Title & Post. Ref. & Debit & Credit \\ \hline \multirow[t]{5}{*}{ Apr. 1, 20Y6 } & r & & & \\ \hline & r & & & \\ \hline & r & & & \\ \hline & F & & & \\ \hline & v & & & \\ \hline \multirow[t]{2}{*}{ Apr. 1, 20Y6} & & & & \\ \hline & r & & & \\ \hline \multirow[t]{2}{*}{ Apr. 2, 20Y6} & & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Apr. 4,20Y6} & & & & \\ \hline & v & & & \\ \hline \multirow[t]{2}{*}{ Apr. 5, 20Y6} & r & & & \\ \hline & r & & & \\ \hline \multirow[t]{2}{*}{ Apr. 6,20Y6} & v & & & \\ \hline & r & & & \\ \hline \multirow[t]{2}{*}{ Apr. 10,20Y6} & r & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Apr. 12,20Y6} & r & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Apr. 12,20Y6} & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Apr. 14, 20 Y6 PAGE 2 You will use the attached spreadsheet to complete several of the remaining parts of this problem. Click on the Spreadsheet id an above to open and save the Excel file t your computer. Your input into the spreadsheet will not be included in your grade in CengageNow on this problem. 2. Post the transactions from part 1 to the general ledger in the attached spreadsheet. The posting must be in chronological order. Be sure to go back and enter the appropriate posting references in the journal. 3. In the spreadsheet, prepare an unadjusted trial balance. 4. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during April is $350. b. Supplies on hand on April 30 are \$1,225. c. Depreciation of office equipment for April is $400. d. Accrued receptionist salary on April 30 is $275. e. Rent expired during April is $2,000. f. Unearned fees on April 30 are $2,350. 5. (Optional) in the spreadsheet, enter the unadjusted trial balance on the end-of-period work sheet and complete the work sheet. 6. Journalize the adjusting entries on Page 3 of the journal. (Do not insert the account numbers in the journal at this time.) Post the adjusting entries to the general ledger in the spreadsheet. The posting must be in chronological order. Then go back and enter the appropriate posting references in the journal. 6. Journalize the adjusting entries on Page 3 of the foumal. (Do not insert the account numbers in the joumal at this time.) Post the adjusting entries to the general ledger in the spreadsheet. The posting must be in chronological order. Then go back and enter the appropriate posting references in the journal. 7. In the spreadsheet, prepare the adjusted trial balance. 8. Prepare an income statement, a statement of owner's equity, and a balance sheet, If an amount box does not require an entry, leave it blank. If a net ioss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. 7. In the spreadsheet, prepare the adjusted trial balance. 8. Prepare an income statement, a statement of owner's equity, and a balance sheet. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Rosebud Consulting Statement of Owner's Equity For the Month Ended April 30, 20 Y6 Rosebud Consulting Balance Sheet April 30, 20Y6 Assets Current assets: Total current assets Property, plant, and equipment: the closing entries to the general ledger in the spreadsheet. Then go back and enter the appropriate posting references in the journal, If an amount box does not require an entry, leave it blank. 9. Journalize the closing entries on Page 4 of the journal. (Do not insert the account numbers in the journal at this time.) Post the closing entries to the general ledger in the spreadsheet. Then go back and enter the appropriate posting references in the journal. If an amount box does not require an entry, leave it blank. 10. Prepare a post-closing trial balance. Ust the accounts in order by type: Assets, Labilities, Capital, Dividends, Revenue, and Expenses, if an amount box does not require an entry, leave it blank. 10. Prepare a post-closing trial balance. List the accounts in order by type: Assets, Labilities, Capital, Dividends, Revenue, and Expenses, If an amount box does not require an entry, leave it blank