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PA3-3 (Algo) Analyzing the Effects of Transactions Using T.Accounts, Preparing an Unadjusted Trial Balance, and Determining Net income and Net Profit Margin [LO 3-1, LO 3-2, LO 3-3, LO 3-4, LO 3-5] Spiccmood Subies, Incoporated, was estabiahed in Oripping Springs, Tevas, on Aprit 1 . The conopary provides stables, care for alinalk, and grounds for riding and showing horses. You have been hired as the nerw assiatant controllec. The following transactions for April are provided for your review. a Puceived contrbutions from investors and issued $280.000 of common stock on Apra 1. 6. Acgueed a barn for $206.000. On Aprit 2. the compary paid hay the amount in cash and signed a three-ytar note payable for the balance. c. Provided 517.200 in animal care services for customers on Apri| 3, all on credit. A Aented stabies to customers who cared for their own animats; received cash of 512,500 on April 4 for rent eamed this month. e. On Apri 5, received $3.600 casti from a customer to boord her horse in May, June, and July (record as Deferred Revenuel. \& Purchased and received hay and feed supplies on account on April 6 for 55.150. 9. Paid 51.960 on accounts payable on April 7 for previous purchases. h. Received $2,740 from customers on Apra 8 on accounts receivabie. LOn April 9. prepoid a twoyear insurance policy for $5.800 for coverage starting in May. 1. On. April 28, paid 51.020 in cash for water and utities used this month. k. Paid $15.300 in wages on April 29 for work done this month. 1 Recelved an electric utlity bil on April 30 for $2,450 for usage in Aprit the bill will be paid next month. Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement 1 to the T.Accounts below. Al accounts begin with zero balances because this is the first month of operations. 3. Pregare an unadjusted trial betance as of Apeil 30 . 4-a. Prefer to the revenues and expenses shown on the unadjusted trial balance, Bosed on this information, calculate preliminary net income and net profit margin. 4.b. Determine whether the net pioft margin is better or worse than the 30.0 percent eamed by a close competitot. Answer is not complete. Complete this question by entering your answers in the tabs below. Return to