Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations April 1 Tanner invested $95,000 cash along with office equipment valued at $22,800 in the company in exchange for common stock 2 The company prepaid $7,200 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $7,200. 3 The company made credit purchases for $11,490 in office equipment and $2,280 in office supplies. Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed a $7,600 project for a client, who must pay within 30 days. 13 The company paid $13, 680 cash to settle the account payable created on April 3. 19 The company paid $6,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,000 22 The company received $6,000 cash as partial payment for the work completed on April 9. 25 The company completed work for another client for $2,648 on credit. 28 The company paid a $6,200 cash dividend. 29 The company purchased $760 of additional office supplies on credit. 30 The company paid $700 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following titles: Cash (101): Accounts Receivable (106): Office Supplies (124); Prepaid Insurance (128): Prepaid Rent (131: Office Equipment (163); Accounts Payable (201): Common Stock (307): Dividends (319): Services Revenue (403); and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30. Prey 1 of 4 ! Next > c o o $ 4 % 5 & 7 3 6 8. 9 0 Check my work Aracel Engineering completed the following transactions in the month of June. a. Jenna Aracel, the owner, invested $250,000 cash, office equipment with a value of $7,000, and $79,000 of drafting equipment to launch the company in exchange for common stock. b. The company purchased land worth $60,000 for an office by paying $9,900 cash and signing a long-term note payable for $50,100. c. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b. d. The company paid $5,000 cash for the premium on an 18-month insurance policy. e. The company completed and delivered a set of plans for a client and collected $6,300 cash. f. The company purchased $20,000 of additional drafting equipment by paying $9,400 cash and signing a long-term note payable for $10.600. 9. The company completed $13,500 of engineering services for a client. This amount is to be received in 30 days. h. The company purchased $1,900 of additional office equipment on credit. i. The company completed engineering services for $22,000 on credit j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,326 rent cost must be paid within 30 days. k. The company collected $8,000 cash in partial payment from the client described in transaction g. 1. The company paid $2.200 cash for wages to a drafting assistant m. The company paid $1,900 cash to settle the account payable created in transaction n. n. The company paid $1,165 cash for minor maintenance of its drafting equipment o. The company paid a $10,090 cash dividend. p. The company paid $1,600 cash for wages to a drafting assistant n. The remnany nail $290 rach for advertisements on the Wendurinn line c O o $ % 5 & 7 4 6 8 9 0