Problem 1: Adam Smith launched a repair business Softworks in April 1. The company had the following transactions during April.

1. Adam Smith invested followings in the business

   1. Cash $65,000

   2. Equipment $5,750

   3. Computer equipment $30,000

2. Softworks purchased land for $22,000 for construction of office building by cash payment $5,000 and a long-term note payable $17,000.

3. Softworks purchased a movable building with $34,500 cash and moved it onto the land.

4. Two years pre-paid insurance $5,000 paid in cash

5. Services provided for cash $4,600

6. Additional computer equipment $4,500 by paying $800 cash and a long-term

7. Services provided on credit $4,250

8. Purchased $950 office equipment on credit.

9. Services provided for $10,200 on credit.

10. Unpaid rent $580 due within 30 days.

11. Softworks received 50% of the cash from the transaction i.

12. Wages paid $1,800.

13. Paid $950 cash to settle the obligation created in transaction h.

14. Computer equipment maintenance cost $608

15. Cash dividend paid $6,230.

16. Another $1,800 cash for wages

17. Advertisement expense $750 paid in cash

Required

Prepare general journal entries, general ledgers, and trial balance to record the above transactions