Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer in a way that I know how to input in the chart, if simply answered like writing an essay I won't know what

Please answer in a way that I know how to input in the chart, if simply answered like writing an essay I won't know what goes where. It's real simple just looks long. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Check my work Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations. April 1 Tanner invested $130,000 cash along vith office equipment valued at $31,200 n the company in exchange for common stock. 2 The company prapaid $7,200 cash for 12 montha ent for office space. (Hint! Debt Prepaid Rant for $7,200.) ade eredit purchases for $15,600 in office equipment and $3,120 in office supplies. Payment is 3 The ccepany due within 10 days. 6 The company 9 The conpany completed a $10,400 project for a client, who must pay within 30 days 13 The company paid $18,720 cash to settle the account payable created on April 19 the compa,00 cash or the premium on a 12-month insurance policy. (Hint: Debit Prepaid r a client and immediately received $2,000 cash. 3. for $6,000.) 22 The company received $8,320 cash as partal payment for the work completed on April 25 The company completed work for another client for $2,640 on credit. 28 The company paid $6,200 cash in dividends. 29 The company purchased $1,040 of additional office supplies on eredit. 30 The company paid $700 cash for this month's utilty bil Required: 1. Prepare general journal entries to record these transactions using the following tities: Cas Supplies (124): Prepaid Insurance (128): Prepaid Rent (130; 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 h (101): Accounts Receivable (106); Office

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Public Financial Management Essentials Of Public Sector Accounting

Authors: Gary Bandy

1st Edition

081535634X, 978-0815356349

More Books

Students also viewed these Accounting questions