Instructions:

1. Record the transactions stated above in good general journal form.

2. Post the transaction to T-accounts.

3. Prepare an unadjusted trial balance in a worksheet as of April 30, 2019

4. Journalize the adjusting entries using the following adjustment data and also by reviewing journal entries prepared in requirement 1. Post adjusting entries to the T-accounts. Adjustment data: a. Supplies on hand April 29, $1,020. b. Depreciation for the office equipment in April, $500. c. Accrued receptionist salary on April 30, $20. d. Unearned Revenue balance as of April 30, $1,000.

5. Prepare an adjusted trial balance in a worksheet as of April 30, 2019 4. Prepare Burroughs Consultants Income Statement, Statement of Retained Earnings and classified Balance Sheet as of April 30, 2019. 5. Record and post-closing entries in a worksheet.

6. Prepare a post-closing trial balance in a worksheet as of April 30, 2019.

Burroughs consultants started operations on April 1, 2019, and had the following transactions during April:

April 4 The following assets were received from Burroughs in exchange for common stock: cash, $10,000; accounts receivable, $1,500; office supplies, $1,250; and office equipment, $7,500.

April 4 Paid three months rent on a lease rental contract, $4,500. The contract began on April 1.

April 4 Paid the premium on property and casualty insurance policies for the year, $1,800. The policy began on April 1.

April 6 Received cash from clients as an advance payment for services to be provided, $3,000.

April 7 Purchased additional office furniture on account from Morrilton Company, $1,800.

April 8 Received cash from clients on account, $800.

April 11 Paid cash for online advertisement, $120.

April 12 Paid Morrilton Company $800 for debt incurred on April 7.

April 15 Recorded services provided on account for the period

April 15, $2,250. April 15 Paid part-time receptionist for two weeks salary, $400

April 15 Recorded cash from cash clients for fees earned on April 15, $3,175.

April 18 Paid cash for supplies, $750.

April 22 Recorded services provided on account for April 22, $1,100.

April 22 Recorded cash from cash clients for fees earned on April 22, $1,850.

April 25 Received cash from clients on accounts, $1,600.

April 27 Paid part-time receptionist for two weeks salary, $400.

April 28 Paid cell phone bill for April, $130.

April 29 Paid electric bill for April, $200.

April 29 Recorded cash from cash clients for fees earned on April 29, $2,050

April 29 Recorded services provided on account for April 29, $1,000.

April 29 Burroughs was paid a salary of $4,500.