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Prepare trial balance for April 30. Following are the transactions for April for Rose Corporation: Apr 1 Received $20,000 cash from shareholders in exchange for
Prepare trial balance for April 30. Following are the transactions for April for Rose Corporation: Apr 1 Received $20,000 cash from shareholders in exchange for shares of common stock. 2 Paid $3,500 cash for April rent on office space. 5 Purchased $2,100 supplies on account from Rainbow Company. 8 Purchased a 1-year insurance policy for $1,100 cash. 10 Borrowed $4,000 cash from the bank and signed a promissory note for the balance due. 12 Purchased equipment costing $25,000: paid $9,000 cash: signed a promissory note for the remainder due. 16 Performed services and billed customers $7,200. 19 Made a $1,600 cash payment on account to Rainbow Company (related to the April 5 transaction). 20 Performed services and received $6,400 cash from customers. 21 Received a $1,400 cash advance from a customer for services to be performed for the customer beginning on May 1. 24 Received $5,100 cash on account from previously billed customers. 28 Declared and paid $4,000 cash dividends to shareholders. 29 Paid cash for an employee's salary for April, $3,700. 30 Received a utility bill for April for $1,600--the bill will be paid in May
Prepare trial balance for April 30.
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