Problems Karla Tanner opened a Web consulting business called Linkworks and completed the following transactions in its first month of operations. April 1 Tanner invested $125,000 cash along with office equipment valued at $30,000 in the company in exchange for common stock. 2 The company prepaid $7,280 cash for 12 months' rent for office space. Hint: Debit Prepaid Rent for $7,200. 3 The company made credit purchases for $15,000 in office equipment and $3,690 in office supplies. Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed a $10,000 project for a client, who must pay within 30 days. 13 The company paid $18,000 cash to settle the account payable created on April 3. 19 The company paid $6,000 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,000. 22 The company received $8,000 cash as partial payment for the work completed on April 9. 25 The company completed work for another client for $2,648 on credit. 28 The company paid a $6,280 cash dividend. 29 The company purchased $1,000 of additional office supplies on credit 30 The company paid $780 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): Prepaid Rent (131): Office Equipment (163). Accounts Payable (201). Common Stock (307): Dividends (319): Services Revenue (403). and Utilities Expense (690). 2. Post the journal entries from part 1 to the ledger accounts. 3. Prepare a trial balance as of April 30. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare general Journal entries to record these transactions using the following titles: Cash (101) Accounts Receivable 100 office Sunnies 1941. Drenain Incurano (178) Dronai Rant (121) Office Frimant (1621. Arrunte Davahla ( 1) Common Steel an 71 1 of 3 lit Next > HEX WIPPS blems 1 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): Common Stock (307) Dividends (319); Services Revenue (403); and Utilities Expense (690). View transaction list Journal entry worksheet 3 6 7 8 ..... 12 Tanner invested $125,000 cash along with office equipment valued at $30,000 in the company in exchange for common stock. Note: Enter debits before credits Date Debit Credit April 01 Debit Accounts Receivable Credit Credit Baland 124: Office Supplies Credit 128 Prepaid Insurance Debt Credit Debit Balance Balance 131. Prepaid Rent 163 Office Equipment Debit Credit Debit credit Balance 307: Common Stock Debit Credit 13 Next 163: Office Equipment Credit Credit te Balance 201: Accounts Payable Debit 307: Common Stock Debit Credit Credit Date Balance Date Balance 403. Services Revenue 319. Dividends Debit Credit Date Balance 690 Utilities Expense Debit Credit Balance Required 1 Required 3 > 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 Credit nces Required 2
