OS a) Prepare the appropriate adjusting entries on April 30, 2014. HINT: Where might a you look to find information to prepare the adjusting entries? NOTE: The adjusting entries will be automatically posted to the general ledger when you click 'submit' and the correct adjusted general ledger balances will be available in the solution to Part 4. General Journal Page GJS Date Account/Explanation F Debit Credit 30/Apr Uneamed Consulting Revenue 9,600 Consulting Revenue Earned 9,600 rev accounts 30/Apr Depreciation Expense, Building, 3,000 Accumulated Depreciation, Building 3,000 building depreciation 30/Apr Consulting Revenue Earned 14,401 Salaries Expense 11,400 Advertising Expense 800 Food and Drinks Expense 101 Property Taxes Expense 800 Repair Expense 800 Depreciation Expense, Building, 500 expenses 30/Apr dividends repair 30/Apr repair F Debit 50,000 9,600 Cash Dato Explanation 31/Mar Opening balance 1/Apr Issued shares 1/Apr Prepaid for insurance 2/Apr Received payment for consulting in advance 5/Apr Paid for repairs to building 19/Apr Paid for dinner with client 25/Apr Eamed and received consulting revenue 25/Apr Paid cash for salaries 30/Apr Received customer payment 30/Apr Paid bill for utilities expense 30/Apr Dividends 30/Apr Paid for property taxes expense 30/Apr Paid for dinner with client GJ1 GJ1 GJ1 GJ2 GJ2 GJ2 GJ3 GJ3 GJ3 GJ3 GJ4 Account No. 10 Credit Balance 100,000 150,000 1,200 148,800 158,400 800 157,600 52 157,548 157,964 11,400 146,564 152,804 500 152,304 1,560 150,744 800 149,944 49 149,895 416 6,240 GJ4 F Debit Accounts Receivable Date Explanation 31/Mar Opening balance 5/Apr Earned consulting revenue 29/Apr Earned consulting revenue 30/Apr Received customer payment Account No. 106 Credit Balance 116,000 123,488 129,728 6,240 123.488 GJ1 GJ3 GJ3 7,488 6,240 Prepaid Insurance Explanation F Account No. 128 Credit Balance 1,200 Debit 1,200 Dato 1/Apr GJ1 Prepaid for insurance Computers Explanation F GJ1 Date 3/Apr Account No. 151 Credit Balance 21,600 Debit 21,600 Received computers Building Explanation F Debit Account No. 173 Credit Balance 37.500 Date 31/Mar Opening balance Accumulated Depreciation, Building Date Explanation 31/Mar Opening balance F Dobit Account No. 174 Credit Balance 3,000 F Debit Accounts Payable Date Explanation 31/Mar Opening balance 3/Apr Received computers 21/Apr Received bill for utilities expense 22/Apr Received bill for advertising expense 30/Apr Paid bill for utilities expense GJ1 GJ2 GJ2 GJ3 Account No. 20 Credit Balance 44,500 21,600 66,100 500 66,600 800 67.400 66,900 500 Date 2/Apr Uneamed Consulting Revenue Explanation Received payment for consulting in advance Debit F GJ1 Account No. 230 Credit Balance 9,600 9,600 Share Capital Explanation F Debit Date 31/Mar Opening balance 1/Apr Issued shares Account No. 301 Credit Balance 53,500 50,000 103,500 GJ1 Date 30/Apr Dividends Explanation Dividends F GJ3 Debit 1,560 Account No. 302 Credit Balance 1,560 Date 31/Mar Opening balance Retained Earnings Explanation F Debit Account No. 318 Credit Balance 152,500 Debit Consulting Revenue Eamed Date Explanation 5/Apr Eamed consulting revenue 25/Apr Earned and received consulting revenue 29/Apr Earned consulting revenue F GJ1 GJ2 GJ3 Account No. 403 Credit Balance 7,488 7,488 416 7,904 6.240 14,144 Salaries Expense Explanation Date 25/Apr Paid cash for salaries F GJ3 Debit 11,400 Account No. 622 Credit Balance 11,400 Advertising Expense Date Explanation 22/Apr Received bill for advertising expense F Debit 800 Account No. 655 Credit Balance 800 GJ2 Date 19/Apr 30/Apr Food and Drinks Expense Explanation Paid for dinner with client Paid for dinner with client F GJ2 GJ4 Debit 52 49 Account No. 668 Credit Balance 52 101 Property Taxes Expense Explanation Paid for property taxes expense Date 30/Apr F Debit 800 Account No. 683 Credit Balance 800 GJ4 Date 5/Apr Repair Expense Explanation Paid for repairs to building F GJ2 Debit 800 Account No. 684 Credit Balance 800 Date 21/Apr Utilities Expense Explanation Received bill for utilities expense F GJ2 Debit 500 Account No. 690 Credit Balance 500 lju Assets P Liabilities wi Equity he Equity Choose an Account or Heading Categories:Accounts and Headings: Al Accounts Payable Accounts Receivable Accumulated Depreciation, Boats Accumulated Depreciation, Building Accumulated Depreciation, Computers art Revenues Accumulated Depreciation, Equipment Expenses Accumulated Depreciation, Furniture ma Other Accumulated Depreciation, Land Improvements atid Accumulated Depreciation, Machinery Accumulated Depreciation, Trucks Advertising Expense Boats Bonds Payable Building Cash Commissions Earned Computers Consulting Revenue Earned Search: Erase Cancel to P Liabilities Choose an Account or Heading Categories:Accounts and Headings: All Copyright dju Assets Depreciation Expense, Boats Depreciation Expense, Building swi Equity Depreciation Expense, Computers the Equity Depreciation Expense, Equipment art Revenues Depreciation Expense, Furniture Expenses Depreciation Expense, Machinery urna Other Depreciation Expense, Trucks atid Dividends Equipment Food and Drinks Expense Furniture Income Summary Insurance Expense Interest Earned Interest Expense Interest Payable Interest Receivable Search: Erase Cancel d the Equity Choose an Account or Heading Categories Accounts and Headings: All Investment in Bonds e adju Assets Land n to P Liabilities Land Improvements wil Long-Term Notes Payable Long-term Investment in Shares Part Revenues Machinery Journ Expenses Mortgage Payable Other Notes Receivable anatic Office Supplies Expense Patents Prepaid Advertising Prepaid Insurance Prepaid Interest Prepaid Rent Property Taxes Expense Property Taxes Payable Rent Eamed Rent Expense Search: Erase Cancel M Equity ne Equity ind tig Rent Expense Rent Receivable rt Revenues Repair Expense Expenses Retained Earnings Other Salaries Expense Salaries Payable Share Capital Short-Term Notes Payable Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Utilities Expense Search: | Erase Oancel OS a) Prepare the appropriate adjusting entries on April 30, 2014. HINT: Where might a you look to find information to prepare the adjusting entries? NOTE: The adjusting entries will be automatically posted to the general ledger when you click 'submit' and the correct adjusted general ledger balances will be available in the solution to Part 4. General Journal Page GJS Date Account/Explanation F Debit Credit 30/Apr Uneamed Consulting Revenue 9,600 Consulting Revenue Earned 9,600 rev accounts 30/Apr Depreciation Expense, Building, 3,000 Accumulated Depreciation, Building 3,000 building depreciation 30/Apr Consulting Revenue Earned 14,401 Salaries Expense 11,400 Advertising Expense 800 Food and Drinks Expense 101 Property Taxes Expense 800 Repair Expense 800 Depreciation Expense, Building, 500 expenses 30/Apr dividends repair 30/Apr repair F Debit 50,000 9,600 Cash Dato Explanation 31/Mar Opening balance 1/Apr Issued shares 1/Apr Prepaid for insurance 2/Apr Received payment for consulting in advance 5/Apr Paid for repairs to building 19/Apr Paid for dinner with client 25/Apr Eamed and received consulting revenue 25/Apr Paid cash for salaries 30/Apr Received customer payment 30/Apr Paid bill for utilities expense 30/Apr Dividends 30/Apr Paid for property taxes expense 30/Apr Paid for dinner with client GJ1 GJ1 GJ1 GJ2 GJ2 GJ2 GJ3 GJ3 GJ3 GJ3 GJ4 Account No. 10 Credit Balance 100,000 150,000 1,200 148,800 158,400 800 157,600 52 157,548 157,964 11,400 146,564 152,804 500 152,304 1,560 150,744 800 149,944 49 149,895 416 6,240 GJ4 F Debit Accounts Receivable Date Explanation 31/Mar Opening balance 5/Apr Earned consulting revenue 29/Apr Earned consulting revenue 30/Apr Received customer payment Account No. 106 Credit Balance 116,000 123,488 129,728 6,240 123.488 GJ1 GJ3 GJ3 7,488 6,240 Prepaid Insurance Explanation F Account No. 128 Credit Balance 1,200 Debit 1,200 Dato 1/Apr GJ1 Prepaid for insurance Computers Explanation F GJ1 Date 3/Apr Account No. 151 Credit Balance 21,600 Debit 21,600 Received computers Building Explanation F Debit Account No. 173 Credit Balance 37.500 Date 31/Mar Opening balance Accumulated Depreciation, Building Date Explanation 31/Mar Opening balance F Dobit Account No. 174 Credit Balance 3,000 F Debit Accounts Payable Date Explanation 31/Mar Opening balance 3/Apr Received computers 21/Apr Received bill for utilities expense 22/Apr Received bill for advertising expense 30/Apr Paid bill for utilities expense GJ1 GJ2 GJ2 GJ3 Account No. 20 Credit Balance 44,500 21,600 66,100 500 66,600 800 67.400 66,900 500 Date 2/Apr Uneamed Consulting Revenue Explanation Received payment for consulting in advance Debit F GJ1 Account No. 230 Credit Balance 9,600 9,600 Share Capital Explanation F Debit Date 31/Mar Opening balance 1/Apr Issued shares Account No. 301 Credit Balance 53,500 50,000 103,500 GJ1 Date 30/Apr Dividends Explanation Dividends F GJ3 Debit 1,560 Account No. 302 Credit Balance 1,560 Date 31/Mar Opening balance Retained Earnings Explanation F Debit Account No. 318 Credit Balance 152,500 Debit Consulting Revenue Eamed Date Explanation 5/Apr Eamed consulting revenue 25/Apr Earned and received consulting revenue 29/Apr Earned consulting revenue F GJ1 GJ2 GJ3 Account No. 403 Credit Balance 7,488 7,488 416 7,904 6.240 14,144 Salaries Expense Explanation Date 25/Apr Paid cash for salaries F GJ3 Debit 11,400 Account No. 622 Credit Balance 11,400 Advertising Expense Date Explanation 22/Apr Received bill for advertising expense F Debit 800 Account No. 655 Credit Balance 800 GJ2 Date 19/Apr 30/Apr Food and Drinks Expense Explanation Paid for dinner with client Paid for dinner with client F GJ2 GJ4 Debit 52 49 Account No. 668 Credit Balance 52 101 Property Taxes Expense Explanation Paid for property taxes expense Date 30/Apr F Debit 800 Account No. 683 Credit Balance 800 GJ4 Date 5/Apr Repair Expense Explanation Paid for repairs to building F GJ2 Debit 800 Account No. 684 Credit Balance 800 Date 21/Apr Utilities Expense Explanation Received bill for utilities expense F GJ2 Debit 500 Account No. 690 Credit Balance 500 lju Assets P Liabilities wi Equity he Equity Choose an Account or Heading Categories:Accounts and Headings: Al Accounts Payable Accounts Receivable Accumulated Depreciation, Boats Accumulated Depreciation, Building Accumulated Depreciation, Computers art Revenues Accumulated Depreciation, Equipment Expenses Accumulated Depreciation, Furniture ma Other Accumulated Depreciation, Land Improvements atid Accumulated Depreciation, Machinery Accumulated Depreciation, Trucks Advertising Expense Boats Bonds Payable Building Cash Commissions Earned Computers Consulting Revenue Earned Search: Erase Cancel to P Liabilities Choose an Account or Heading Categories:Accounts and Headings: All Copyright dju Assets Depreciation Expense, Boats Depreciation Expense, Building swi Equity Depreciation Expense, Computers the Equity Depreciation Expense, Equipment art Revenues Depreciation Expense, Furniture Expenses Depreciation Expense, Machinery urna Other Depreciation Expense, Trucks atid Dividends Equipment Food and Drinks Expense Furniture Income Summary Insurance Expense Interest Earned Interest Expense Interest Payable Interest Receivable Search: Erase Cancel d the Equity Choose an Account or Heading Categories Accounts and Headings: All Investment in Bonds e adju Assets Land n to P Liabilities Land Improvements wil Long-Term Notes Payable Long-term Investment in Shares Part Revenues Machinery Journ Expenses Mortgage Payable Other Notes Receivable anatic Office Supplies Expense Patents Prepaid Advertising Prepaid Insurance Prepaid Interest Prepaid Rent Property Taxes Expense Property Taxes Payable Rent Eamed Rent Expense Search: Erase Cancel M Equity ne Equity ind tig Rent Expense Rent Receivable rt Revenues Repair Expense Expenses Retained Earnings Other Salaries Expense Salaries Payable Share Capital Short-Term Notes Payable Supplies Supplies Expense Trademark Trucks Unearned Consulting Revenue Unearned Rent Utilities Expense Search: | Erase Oancel