Make T-accounts for the accounts above and post all transactions.

Create the trial balance

What is the net income for the month?

Chart of Accounts 4 AAA Tax Service opens their business on April 1 and have the following transactions in the month.: Cash Accounts Receivable Prepaid Insurance f h a 4/1 The company founder invests $50,000 and becomes the company's only shareholder. b 4/2 The company buys 4 computers for total cost $8,100, paying 2,100 cash and 6,000 on account. 4/6 The Company pays cash for a 12 month insurance policy 9,000. Effective 4/1 - 3/31ext year 4/7 The company buys supplies that will be used for several months. This costs $6,000 on account e 4/8 The company's first customer pays cash of $4000 for tax service 4/15 The company pays payroll expense of $2,000 g 4/17 More tax service is performed for customers on account for $8,000 4/25 The company collects 4,000 from customers for service just completed in g above on 4/17 i 4/30 The company pays the amount owed for the 4 computers bought on 4/2 above ($6,000) 4/30 The company pays $2,000 for the first months rent expense 4/30 The company receives $7,000 cash for tax work for a customer. Work will be completed next Mo. 4/30 The company pays a dividend of $1,000 for the month Adjustments m 4/30 Create the depreciation entry for the month for the computers. $225 per month 4/30 Make the adjustment entry for one month of insurance for the insurance purchased on 4/6 o 4/30 They rush and complete half the job for the customer in k above. Create the entry to recognize half of the revenue. 4/30 A count of the supplies shows a total of $4,000 remaining in supplies. K 1 Supplies Computer & Office Equipment Accumulated Depreciation Accounts payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Expense Payroll Expense Insurance Expense Depreciation Expense Supplies Expense n