ert Format Font Tools Table Window Work Help E ACT 5001 HW 3 problems.docx 125% at Tables Columns Show Navigation Gallery Toolbox Zoom Help P3-49. Journalizing and Posting Transactions and Adjustments LO D. Roulstone opened Roulstone Roofing Service on April I. Transactions for April follow. Apr. 1 Roulstone contributed $11.500) cash to the business in exchange for common stock. 2 Paid S6.100 cash for the purchase of a used truck 2 Purchased $6.200 of ladders and ober equipment, the company paid $1,000 cash, with the balance due in 30 days 3 Paid $2,880 cash for a two-year (or 24-month) premium toward liability insurance. 5 Purchased $1,200 of supplies on credit. 5 Received an advance of $1,800 cash from a customer for roof repairs to be done during April and May 12 Billed customers $3.500 for rooing services performed 18 Collected $4,900 cash from customers toward their accounts billed on April 12 29 Paid S675 cash for truck fuel used in April. 30 Paid S100 cash for April newspaper advertising. 30 Paid $4.500 cash for assistants wages eamed 30 Billed customers S4,000 for rooling services performed Required d. Set up T-accounts for the following accounts: cash, accounts receivable, supplies. prepaid insurance trucks, accumulated depreciation -trucks, equipment, accumulated depreciatioe equipment, ac- expense. wages expense, insurance expense, supplies expense, depreciation expense trucks, and counts payable, uncarned roofing fees. common stock. roofing lees carned. fuel expense, advertising depreciation expense-cquipnnt. b Record these transactions for April using journal entries e. Post the journal entries from part b, to their T-accounts (reference transactions in Taccounts by dale) d. Prepare journal entries to adjust the following accounts: insurance expense, supplies expense, de- preciation expense- trucks, depreciation expense-equipment, and rooting lees carned. Supplies still available on April 30 amount to S200. Depreciation for April was $125 on the truck and $35 on equipment. One fourth of the roofing fee received on April 5 was carned by April 30 e. Post the adjusting journal entries from part d to their T-accounts The following problem is for BONUS points only