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Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations. Please prepare a trial balance
Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations. Please prepare a trial balance as of April 30? *other solutions to this answer on this site are wrong*
April | 1 | Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. |
2 | The company prepaid $9,000 cash for 12 months' rent for office space. (Hint: Debit Prepaid Rent for $9,000.) | |
3 | The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days. | |
6 | The company completed services for a client and immediately received $4,000 cash. | |
9 | The company completed a $6,000 project for a client, who must pay within 30 days. | |
13 | The company paid $11,600 cash to settle the account payable created on April 3. | |
19 | The company paid $2,400 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $2,400.) | |
22 | The company received $4,400 cash as partial payment for the work completed on April 9. | |
25 | The company completed work for another client for $2,890 on credit. | |
28 | The company paid $5,500 cash in dividends. | |
29 | The company purchased $600 of additional office supplies on credit. | |
30 | The company paid $435 cash for this month's utility bill. |
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