Karla Tanner opens a Web consulting business called Linkworks and completed the following transactions in its first month of operations. April 1 Tanner invested $145,888 cash along with office equipment valued at $34,880 in the company, 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 $17,480 in office equipment and $3,480 in office supplies. Payment is due within 10 days 6 The company completed services for a client and immediately received $2,800 cash. 9 The company completed a $11,6ee project for a client, who must pay within 30 days. 13 The company paid $20,888 cash to settle the account payable created on April 3. 19 The company paid $6,000 cash for the premiun on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,880. 22 The company received $9,290 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 Tanner withdrew $6,208 cash from the company for personal use. 29 The company purchased $1,168 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): K. Tanner. Capital (301); K. Tanner, Withdrawals (302): 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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); K. Tanner, Capital (301); K. Tanner, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). View transaction lat Journal entry worksheet 7 12 > Tanner invested $145,000 cash along with office equipment valued at $34,800 in the company. Note: Enter debits before credits. Account Title Debit Credit Date April 01 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): K. Tanner. Capital (301): K Tanner, Withdrawals (302): 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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); K. Tanner, Capital (301); K. Tanner, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). View transaction list Journal entry worksheet Tanner invested $145,000 cash along with office equipment valued at $34,800 in the company. Note: Enter debits before credits. Account Title Debit Credit Date April 01 Record entry Clear entry View general Journal a. Wages of $8,000 are eamed by workers but not pald as of December 31. b. Depreciation on the company's equipment for the year is $11,800. c. The Office Supplies account had a $420 debit balance at the beginning of December. During December, $6,203 of office supplies are purchased. A physical count of supplies at December 31 shows $670 of supplies available. d. The Prepaid Insurance account had a $5.000 balance at the beginning of December. An analysis of Insurance policies shows that $2,700 of unexpired Insurance benefits remain at December 31. e. The company has earned (but not recorded) $600 of Interest revenue for the year ended December 31. The Interest payment will be received on 10 days after the year-end January 10. f. The company has a bank loan and has incurred (but not recorded) Interest expense of $3,500 for the year ended December 31. The company will pay the Interest five days after the year-end on January 5. For each of the above separate cases, prepare adjusting entries required of financial statements for the year ended (date of) December 31 View transaction list Journal entry worksheet Wages of $8,000 are earned by workers but not paid as of December 31. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. Debit Credit $18,00 14,680 2,880 23,00 $ 6,500 45,795 No. Account Title 101 Cash 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation Equipment 301 A. Cruz, Capital 302 A. Cruz, withdrawals 404 Services revenue 612 Depreciation expense-Equipment 622 Salaries expense 637 Insurance expense 640 Rent expense 652 Supplies expense Totals 6,000 46,280 2,08 26,935 1,940 3,895 1.525 $98,495 $98,495 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2 Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $45.795 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. , . . View transaction list Journal entry worksheet 1 2 3 4 Record the entry to close revenue accounts. . Note: Enter debits before credits General Journal Debit Credit Date Dec 31 652 Supplies expense Totals 1,525 $98,495 $98,495 1. Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. 2 Prepare the December 31, post-closing trial balance for Cruz Company. Note: A. Cruz, Capital was $45.795 on December 31 of the prior year. Complete this questions by entering your answers in the tabs below. Required 1 Required 2 Prepare the December 31, closing entries for Cruz Company. Assume the account number for Income Summary is 901. View transaction at Journal entry worksheet