1. Entries into T accounts and Trial Balance

   Ken Jones, an architect, organized Jones Architects on April 1, 20Y2. During the month, Jones Architects completed the following transactions:

   1. Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $55,100.
   2. Purchased used automobile for $36,000, paying $8,300 cash and giving a note payable for the remainder.
   3. Paid April rent for office and workroom, $5,500.
   4. Paid cash for supplies, $2,640.
   5. Purchased office and computer equipment on account, $11,000.
   6. Paid cash for annual insurance policies on automobile and equipment, $3,700.
   7. Received cash from a client for plans delivered, $13,800.
   8. Paid cash to creditors on account, $3,200.
   9. Paid cash for miscellaneous expenses, $375.
   10. Received invoice for blueprint service, due in May, $1,800.
   11. Recorded fees earned on plans delivered, payment to be received in May, $9,500.
   12. Paid salary of assistant, $2,900.
   13. Paid cash for miscellaneous expenses, $1,490.
   14. Paid installment due on note payable, $440.
   15. Paid gas, oil, and repairs on automobile for April, $720.

   Required:

   1. Record the above transactions (in chronological order) directly in the following T accounts, without journalizing: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Automobiles, Equipment, Notes Payable, Accounts Payable, Common Stock, Professional Fees, Rent Expense, Salary Expense, Blueprint Expense, Automobile Expense, Miscellaneous Expense. To the left of each amount entered in the accounts, select the appropriate letter to identify the transaction.

   2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.

   Cash
   Bal.

   Accounts Receivable

   Supplies

   Prepaid Insurance

   Automobiles

   Equipment

   Notes Payable
   		Bal.

   Accounts Payable
   		Bal.

   Common Stock

   Professional Fees
   		Bal.

   Rent Expense

   Salary Expense

   Blueprint Expense

   Automobile Expense

   Miscellaneous Expense
   Bal.

   3. Prepare an unadjusted trial balance for Jones Architects as of April 30, 20Y2. List all accounts in the order of Assets, Liabilities, Stockholders equity, Revenues, and Expenses. If an amount box does not require an entry, leave it blank.

   Jones Architects
   Unadjusted Trial Balance
   April 30, 20Y2
   	Debit Balances	Credit Balances

   4. Determine the net income or net loss for April. $

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