$*$ Prepare the journal, ledger, and statement of changes in equity.

$----------------------------------------------------------------$ Understanding Accounting Cycle

Short Case

Assume that for several years Ahmad Qahtani has operated a part$-$time consulting business from his home. As of April $1,2021,$ Ahmad decided to move to rented quarters and to operate the business on a full$-$time basis. The business will be known as Ahmad Consulting. During April, Ahmad consulting entered into the following transactions.

April $1$ The following assets were received from Ahmad Qahtani: Cash $$13,100$; accounts receivable $$3000$; supplies $$1400$ and office equipment $12,500.$ There were no liabilities received.

$1$ Paid three months$$ rent on a lease rental contract $ $4800.$

$2$ Paid the premiums on property and casualty insurance policies $ $1800.$

$4$ Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees $ $5000.$

$5$ Purchased additional office equipment on account from office station Co$.$ $ $2000.$

$6$ Received cash from clients on account $ $1800.$

$10$ Paid cash for newspaper advertisement $ $120.$

$12$ Paid office station Co$.$ for part of the debt incurred on April $5,$ $ $1200.$

$12$ Recorded services provided on account for the period April $1-12,$ $ $4200.$

$14$ Paid part$-$time receptionist for two weeks$$ salary $$750.$

$17$ Recorded cash from cash clients for fees earned during the period April $1-16,$ $$6250.$

$18$ Paid cash for supplies $ $800.$

$20$ Recorded services provided on account for the period April $13-20,$ $ $2100.$

$24$ Recorded cash from cash clients for fees earned for the period April $17-24,$ $ $3850.$

$26$ Received cash from clients on account $ $5600.$

$27$ Paid part$-$time receptionist for two weeks$$ salary $ $750.$

$29$ Paid telephone bill for April $ $130.$

$30$ Paid electricity bill for April $ $200.$

$30$ Recorded cash from cash clients for fees earned for the period April $25-30,$ $ $3050.$

$30$ Recorded services provided on account for the remainder of April $ $1500.$

$30$ Ahmad withdrew $ $6000$ for personal use.

Before the financial statements can be prepared, the accounts must be updated. The four types of accounts that normally require adjustments include prepaid expenses, unearned revenue, accrued

revenue and accrued expenses. In addition, depreciation expense must be recorded for fixed assets other than land. Following data have been assembled on April $30,2021$ for analysis of possible adjustments for the business.

a$)$ Insurance expired during April is $ $300.$

b$)$ Supplies on hand on April $30$ are $ $1,350.$

c$)$ Depreciation of office equipment for April is $ $330.$

d$)$ Accrued receptionist salary on April $30$ is $ $120.$

e$)$ Rent expired during April is $ $1,600.$

f$)$ Unearned fees on April $30$ are $ $2,500.$

$*$ Prepare the journal, ledger, and statement of changes in equity