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I need help creating this journal entry Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month
I need help creating this journal entry
Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operation 5. April 1 2 3 6 9 13 19 22 25 28 29 30 Req uired: Tanner invested $100,000 cash along with office equipment valued at $24,000 in the company in exchange for common stock. The The due The The The The company prepaid $?.200 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $T,200. company made credit purchases for $12,000 in office equipment and $2,400 in office supplies. Payment is within 10 days. company company company company $6,000. The The The The The company company company company company completed services for a client and immediately received $2,000 cash. completed a $3,000 project for a client' who must pay within 30 days. paid $14,400 cash to settle the account payable created on April 3. paid $6,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for received $6,400 cash as partial payment for the work completed on April 9. completed work for another client for $2,640 on credit. paid a $6,200 cash dividend. purchased $000 of additional office supplies on credit. paid $T00 cash for this month's utility hill. 1. Prepare generaljournal entries to record these transactions using the following titles: Cash {101}; Accounts Receivable (105); Oice Supplies [124}: Prepaid Insurance [128}; Prepaid Rent [131}: Ofce Equipment {163}; Accounts Payable [201); Common Stock {307}: Dividends {3191: Services Revenue {403}; and Utilities Expense (690]. 2. Post thejournal entries from part1 to the ledger accounts. 3. Prepare a trial balance as of April 30Step by Step Solution
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