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Karta Tanner opened a web consulting business called Linkworks and recorded the following transactions in its first month of operations, Aprill Tanner invests $80,000 cash along with office equipment valued at $25,000 in the company April 2 The company prepaid $5,000 cash for twelve months rent for office space. The company's policy is record prepaid expenses in balance sheet accounts: Ari The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 April. The company completed services for client and immediately received $4,000 cash April the company completed a $5,000 project for client, who must pay within 30 days April 13 The company paid $11,600 cash to settle the account payable created on April April 19 The company polit 2,400 cash for the premium on 1 month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts Aral 22 The company received 4,400 cash as partial payment for the work completed on April Meil > The company completed work for another client for $2,090 on credit Moril Tanner withdrew 35,500 cash from the company for personale April 29 The company purchase of additional office supplies on credit Art The company pod cash for this month's utility Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2. the company prepaid $9,000 cash for twelve months' rent for offee space b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April comice supplies on hand as of April 30 total $1200 Straight line depreciation of office equipment, based on a 5 year life and a $4,000 salvage value is $500 per month The company has completed work for a client, but has not yet billed the $1800 fee. Wages due to employees, but not yet pald, as of April 30 total $2,600, genet General General Tesco 5t Owen a) On April 2, the company prepaid $9,000 cash for twelve months' rent for office space. b) The balance in Prepaid Insurance represents the premium paid for a 12-month Insurance policy the policy's coverage began on April c) Office supplies on hand as of April 30 total $1.200. d) Straight-line depreciation of office equipment, based on a 5 year life and a $4.000 salvage value is $500 per month e) The company has completed work for a client, but has not yet billed the $1,800 fee. Wages due to employees, but not yet paid, as of April 30 total $2.600. General General Income Requirement Trial Balance St Owners Journal Impact on Ledger Statement Equity Balance Sheet Income General Journal tab - For each transaction, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. Alter adjusting the accounts, review the general ledger and trial balance for accuracy General Ledger tab Each Journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted or adjusted balances Trial Balance tab You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs Income Statement tab - Use the drop down to select the accounts properly included on the income statement The unadjusted or adjusted balances will appear for each account, based on your selection Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your selection Balance Sheet tab Use the drop downs to select the account properly included on the balance sheet The unadjusted on adjusted balances will appear for each account, based on your selection Impact on Income tab for each adjustment, indicate the income statement and balance sheet account affected, and the Impact on net income. If an adjustment caused net income to decrease enter the amount as a negative value. Net Income before adjustments can be found on the income statement tab (Hint: Select unadjusted on the dropdown.) Journal entry worksheet Office supplies on hand as of April 30 total $1,200. Prepare the required adjusting entry, if any. eBook Perences Note: Enter debits before credits Date Account Title Debit Credit Apr 30 Record entry Clear entry View general Journal 3 Journal entry worksheet 2.5 points 3 4 5 6 eBook Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 salvage value, is $500 per month. Prepare the required adjusting entry, if any References Note: Enter debits before credits Date Apr 30 Account Title Debit Credit Record entry Clear entry View general Journal Journal entry worksheet 25 points 5 6 The company has completed work for a client, but has not yet billed the $1,800 fee. Prepare the required adjusting entry, if any, BOOK References Note: Enter debits before credits Date Account Title Debit Credit Apr 30 Record entry Clear entry View general journal 5 Journal entry worksheet 25 points 4 5 6 Wages due to employees, but not yet paid, as of April 30 total $2,600. Prepare the required adjusting entry, If any. ebook Reference Note: Enter debits before credits Date Apr 30 Account Title Dobit Credit Record entry Clear entry View general Journal Unadjusted LINKWORKS Income Statement For Month Ended April 30, 2021 Revenues 0 es 0 Expenses 0 0 0 0 0 0 0 Net income 0 3 LINKWORKS Balance Sheet April 30, 2021 ASSETS 5 bints Current assets $ 0 0 eBook 0 References 0 0 0 S 0 Plant assets 0 S 0 LIABILITIES AND EQUITY Liabilities S 0 0 0 0 Equity 3 Current assets S 0 0 0 nts 0 eBook 0 S 0 References Plant assets 0 S 0 LIABILITIES AND EQUITY Liabilities GA oo 0 0 Equity 0 Show less Unadjusted Account affecting the Income Statement Balance Sheet Impact on net Income Adjusting entry related to a) Rent b) Insurance c) Office supplies d) Depreciation c) Unbilledfees 1) Unpaid wages 2 3 4 5 6 the company prepaid $9,000 cash for twelve months are the required adjusting entry, if any. its before credits Account Title Debi 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid Insurance 131: Prepaid rent NE