Problem 2-1A Preparing and posting journal entries; preparing a trial balance LO C3, C4, A1, P1, P2 Karla Tanner opens a Web consulting business called Linkworks and completed the following transactions in its first month of operations April 1 Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company. 2 The company prepaid $9,000 cash for 12 months rent for office space. Hint: Debit Prepaid Rent for 59,000 3 The company made credit purchases for $3,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days. 6 The company completed services for a client and immediately receiveo $4,000 cash. 9 The company completed a $6,000 project for a client, who must pay within 30 days 13 The company paid $11,000 cash to settle the account payable created on April ). 19 The company paid $2,400 cash for the premiun on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $2,400. 22. The company received $4,400 cash as partial payment for the work completed on An 25 The company completed work for another client for 52,890 on credit. 20 Tanner withdrew $5,500 cash from the company for personal use. 29 The company purchased $600 of additional office supplies on credit. 9. The company paid $435 cash for this month's utility bill. Required: 1. Prepare general journal entries to record these transactions using the following titles Cash (101) Accounts Receivable (106): Office Supplies (124). Prepaid insurance (128). Prepold Rent (134). Office Equipment 1163) Accounts Payable (2017: K Tanner, Capital (3018: K: Tonner. Withdrawals (302). Services Revenue (403) and Utilities Expense (690) 2. Pon the journal entries from port to the ledger accounts 3. Prepare a trial balance as of April 30 Complete this question by entering your answers in the tabs below. Regare Required Sowed Required 1 Required 2 Required 3 Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106): Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); K. Tanner, Capital (301). K. Tanner, withdrawals (302); Services Revenue (403); and utilities Expense (690). View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 ... 12 > Tanner invested $80,000 cash along with office equipment valued at $26,000 in the company Nota: Enter debita baloncedit Account Title Debit Credit Date Ano Seved Required 1 Required 2 Required 3 Post the journal entries from part 1 to the ledger accounts. 101: Cash Debit Credit Date Balance 106: Accounts Receivable Debit Credit Date Balance 124: Office Supplies Debit Credit Date Balance Date 128: Prepaid Insurance Debit Credit Balance 131: Prepaid Rent Debit Credit Date 163: Office Equipment Debit Credit Balance Date Balance 2011 Accounts Payable 301: K. Tanner, Capital 201: Accounts Payable Debit Credit Date 301: K. Tanner, Capital Debit Credit Balance Date Balance 302: K. Tanner, Withdrawals Debit Credit Date Balance 403. Services Revenue Debit Credit Date Balance 690: Uulities Expense Debit Credit Date Balance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a trial balance as of April 30. LINKWORKS Trial Balance April 30 Debit Credit Total g GUR
