D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. 1. Apr. 01...

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D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. 1. Apr. 01 Roulstone contributed $6,900 cash to the business in exchange for common stock, 2. Apr. 02 Paid $3,660 cash for the purchase of a used truck. 3. Apr. 02 Purchased $3,720 of ladders and other equipment; the company paid $600 cash, with the balance due in 30 days. 4. Apr. 03 Paid $1,728 cash for two-year (or 24-month) premium toward liability insurance. 5. Apr. 05 Purchased $720 of supplies on credit. 6. Apr. 05 Received an advance of $1,080 cash from a customer for roof repairs to be done during April and May. 7. Apr. 12 Billed customers $3,300 for roofing services performed. 8. Apr. 18 Collected $2,940 cash from customers toward their accounts billed on April 12. 9. Apr. 29 Paid $405 cash for truck fuel used in April. 10. Apr. 30 Paid $60 cash for April newspaper advertising. 11. Apr. 30 Paid $2,700 cash for assistants' wages earned. 12. Apr. 30 Billed customers $2,400 for roofing services performed. a. Use the financial statement effects template to record the twelve transactions for April. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction Cash Asset 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. = = = = = 12. Balance Sheet Noncash Assets = Liabilities = Contrib. Capital = = Earned Capital = Income Statement Revenues Expenses = Net Income = = = = = = = = = = = = = = = = = = = = = = = b. Use the financial statement effects template to record the adjustments at the end of April. 1. Apr. 30 One month of insurance has expired. 2. Apr. 30 Supplies still available on April 30 amount to $120. 3. Apr. 30 Depreciation for April was $75 on the truck. 4. Apr. 30 Depreciation for April was $21 on equipment. 5. Apr. 30 One-fourth of roofing fee received on April 5 was earned by April 30. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction Cash Asset 1. 2. Noncash Assets = Balance Sheet Liabilities 3. 4. = 5. = Contrib. Capital = Earned Capital = Revenues = = = Income Statement Expenses = Net Income D. Roulstone opened Roulstone Roofing Service on April 1. Transactions for April follow. 1. Apr. 01 Roulstone contributed $6,900 cash to the business in exchange for common stock, 2. Apr. 02 Paid $3,660 cash for the purchase of a used truck. 3. Apr. 02 Purchased $3,720 of ladders and other equipment; the company paid $600 cash, with the balance due in 30 days. 4. Apr. 03 Paid $1,728 cash for two-year (or 24-month) premium toward liability insurance. 5. Apr. 05 Purchased $720 of supplies on credit. 6. Apr. 05 Received an advance of $1,080 cash from a customer for roof repairs to be done during April and May. 7. Apr. 12 Billed customers $3,300 for roofing services performed. 8. Apr. 18 Collected $2,940 cash from customers toward their accounts billed on April 12. 9. Apr. 29 Paid $405 cash for truck fuel used in April. 10. Apr. 30 Paid $60 cash for April newspaper advertising. 11. Apr. 30 Paid $2,700 cash for assistants' wages earned. 12. Apr. 30 Billed customers $2,400 for roofing services performed. a. Use the financial statement effects template to record the twelve transactions for April. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction Cash Asset 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. = = = = = 12. Balance Sheet Noncash Assets = Liabilities = Contrib. Capital = = Earned Capital = Income Statement Revenues Expenses = Net Income = = = = = = = = = = = = = = = = = = = = = = = b. Use the financial statement effects template to record the adjustments at the end of April. 1. Apr. 30 One month of insurance has expired. 2. Apr. 30 Supplies still available on April 30 amount to $120. 3. Apr. 30 Depreciation for April was $75 on the truck. 4. Apr. 30 Depreciation for April was $21 on equipment. 5. Apr. 30 One-fourth of roofing fee received on April 5 was earned by April 30. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Transaction Cash Asset 1. 2. Noncash Assets = Balance Sheet Liabilities 3. 4. = 5. = Contrib. Capital = Earned Capital = Revenues = = = Income Statement Expenses = Net Income