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Karla Tanner opened a web consulting business called Linkworks and recorded the following transactions in its first month of operations. April 1 Tanner invests $80,000

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Karla Tanner opened a web consulting business called Linkworks and recorded the following transactions in its first month of operations. April 1 Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. April 2 The conpany prepald $9,000 cash for twelve nontha' rent for offlee epace. The company' a policy in record prepaid expenses in balance sheet accounts. April 3 The company made eredit parchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days. April 6 The company completed aervicen for a olient and immediately received $4,000 cash. April 9 The company corpletsd a $6,000 project for a client, who must pay within 30 days. Apri1 13 The conpany paid $11,600 cash to settle the account payable created on Aprid 3. Aprid 19 The company paid $2,400 cash for the premiun on a 12 -month insurance policy. The company"s policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,400 cash as partial payment for the work completed on April 9. April 25 The company conpleted work for another elient for $2,890 on credit. Apri1 28 The company paid $5,500 cash in divldends. April 29 The company purchased $600 of additional effice supplies on eredit. Apri1 30 The compony paid $435 cash for this month's utility bil1. Descriptions of items that require adjusting entries on April 30, follow. 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 1. 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. f) Wages due to employees, but not yet paid, as of April 30 total $2,600. Journal entry worksheet 2 3 4 6 On April 2, the company prepaid $9,000 cash for twelve months' rent for office space. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Journal entry worksheet The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy; the policy's coverage began on April 1. Prepare the required adjusting entry, if any. Note: Enter debits before credits. Journal entry worksheet

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