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Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180.000. On April 2. the company paid half the amount in cash and signed a three-year note payable for the balance. c. Provided $18,000 in animal care services for customers on April 3. all on credit. d. Rented stables to customers who cared for their own animals, received cash of $14,000 on April 4 for rent earned this month. e. On April 5, received $3.350 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue). 1. Purchased and received hay and feed supplies on account on April 6 for $3,800. g. Paid $2.600 on accounts payable on April 7 for previous purchases. h. Received $2,040 from customers on April 8 on accounts receivable. i. On April 9, prepaid a two-year insurance policy for $4,800 for coverage starting in May. j. On April 28. paid $1,140 in cash for water and utilities used this month. k. Paid $14,800 in wages on April 29 for work done this month. Received an electric utility bill on April 30 for $1.560 for usage in April; the bill will be paid next month. Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance as of April 30. 4-2. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin. 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4A Reg 4B Prepare the journal entry for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 230,000 Cash Common Stock 230,000 180,000 Buildings Cash Notes Payable (long-term) 90,000 90.000 18,000 Accounts Receivable Service Revenue 18,000 (d) 14,000 Cash Rent Revenue 14,000 Cash 3,350 Deferred Revenue 3.350 (1) 3.800 Supplies Accounts Payable 3,800 + 7 (9) 2,600 Accounts Payable Cash 2.600 (h) 2,040 Cash Accounts Receivable 4.800 Prepaid Insurance Cash 10 0 1.140 Utilities Expense Cash 11 (k) 14,800 Salaries and Wages Expense Cash 14,800 12 0 ) 1,560 Utilities Expense Accounts Payable 1.560 Req 2 > Cash Accounts Receivable Bea Bal Beg. Bal End. Bal End. Bal Supplies Prepaid Insurance Beg Bal Beg. Bal End. Bal End. Bal Buildings Accounts Payable Beg. Bal Beg. Bal End, Bal End. Bal Deferred Revenue Notes Pavable long-term) Beg. Bal Beg. Bal End. Bal End. Bal Common Stock Service Revenue Beg. Bal 1 Beg. Bal 1 End. Bal End. Bal Rent Revenue Utilities Expense Beg. Bal Bea Bal Salaries and Wages Expense Beg. Bal End. Bal a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180.000. On April 2. the company paid half the amount in cash and signed a three-year note payable for the balance. c. Provided $18.000 in animal care services for customers on April 3, all on credit. d. Rented stables to customers who cared for their own animals, received cash of $14,000 on April 4 for rent earned this month. e. On April 5, received $3.350 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue). f Purchased and received hay and feed supplies on account on April 6 for $3.800. g. Paid $2.600 on accounts payable on April 7 for previous purchases. h. Received $2,040 from customers on April 8 on accounts receivable. i. On April 9, prepaid a two-year insurance policy for $4.800 for coverage starting in May. j. On April 28. paid $1.140 in cash for water and utilities used this month. k. Paid $14.800 in wages on April 29 for work done this month. Received an electric utility bill on April 30 for $1.560 for usage in April; the bill will be paid next month. Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance as of April 30. 4-a. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin. 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Complete this question by entering your answers in the tabs below. Rea 1 Reg 2 Reg 3 Reg 4A Reg 4 Prepare an unadjusted trial balance as of April 30. SPICEWOOD STABLES, INC. Unadjusted Trial Balance Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Buildings Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Service Revenue Rent Revenue Utilities Expense Salaries and Wages Expense Total $ 0 0 . Req2 Req 4A > Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180.000. On April 2. the company paid half the amount in cash and signed a three-year note payable for the balance. c. Provided $18,000 in animal care services for customers on April 3. all on credit. d. Rented stables to customers who cared for their own animals, received cash of $14,000 on April 4 for rent earned this month. e. On April 5, received $3.350 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue). f. Purchased and received hay and feed supplies on account on April 6 for $3,800. g. Paid $2,600 on accounts payable on April 7 for previous purchases. h. Received $2,040 from customers on April 8 on accounts receivable. i. On April 9, prepaid a two-year insurance policy for $4.800 for coverage starting in May. . On April 28, paid $1.140 in cash for water and utilities used this month. k. Paid $14,800 in wages on April 29 for work done this month. Received an electric utility bill on April 30 for $1.560 for usage in April, the bill will be paid next month. Requlred: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance as of April 30. 4-a. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin. 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Complete this question by entering your answers in the tabs below. Reg1 Reg 1 Reg 2 Reg 2 Reg 3 Reg3 Req 4A Reg 4A Reg 4B Req 48 Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net income and net profit margin. (Round your Net Profit Margin answer to 1 decimal place.... Preliminary Net Income Net Profit Margin -