Question
pr. 1.The following assets were received from Jeff Horton: cash, $20,000; accounts receivable, $14,700; supplies, $3,300; and office equipment, $12,000. There were no liabilities received.1.
pr. 1.The following assets were received from Jeff Horton:
cash, $20,000; accounts receivable, $14,700; supplies, $3,300; and office equipment, $12,000. There were no liabilities received.1.
Paid three months' rent on a lease rental contract, $6,000.2.
Paid the premiums on property and casualty insurance policies, $4,200.4.
Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400.5.
Purchased additional office equipment on account from Smith Office Supply Co., $8,000.6.
Received cash from clients on account, $11,700.10.
Paid cash for a newspaper advertisement, $350.12.
Paid Smith Office Supply Co. for part of the debt incurred on April 5, $6,400.12.
Provided services on account for the period April 1-12, $21,900.14.
Paid receptionist for two weeks' salary, $1,650.
Received cash from cash clients for fees earned during the period April 1-16, $6,600.18.
Paid cash for supplies, $725.20.
Provided services on account for the period April 13-20, $16,800.24.
Received cash from cash clients for fees earned for the period April 17-24, $4,450.26.
Received cash from clients on account, $26,500.27.
Paid receptionist for two weeks' salary, $1,650.29.
Paid telephone bill for April, $540.30.
Paid electricity bill for April, $760.30.
Received cash from cash clients for fees earned for the period April 25-30, $5,160.30.
Provided services on account for the remainder of April, $2,590.30.
Jeff withdrew $18,000 for personal use.
At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).
a. Insurance expired during April is $350.
b. Supplies on hand on April 30 are $1,225.
c. Depreciation of office equipment for April is $400.
d. Accrued receptionist salary on April 30 is $275.
e. Rent expired during April is $2,000.
f. Unearned fees on April 30 are $2,350.
Rosebud Consulting
Statement of Owner's Equity
For the Month Ended April 30, 2019
Jeff Horton, capital, April 1, 2019
$Investment during month
$Net income
$Withdrawals
Increase in owner's equity
Jeff Horton, capital, April 30, 2019
$
A post-closing trial balance.
Rosebud Consulting
Post-Closing Trial Balance
April 30, 2019Debit BalancesCredit Balances
Cash
Accounts Receivable
Supplies
Prepaid Rent
Prepaid Insurance
Office Equipment
Accumulated Depreciation-Office Equipment
Accounts Payable
Salaries Payable
Unearned Fees
Jeff Horton, Capital
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