Question 4 (30 marks) Sam Strong, on March 01, 2018, started his income tax business, Strong Taxes. The following transactions occurred in March 2018: A. Sam Strong transferred several personal assets to the business: cash $ 60,000, land valued at $ 400,000, and a building valued at $ 100,000. B. Strong Taxes paid cash for the following items: o $1,000 Office Supplies o $5,000 Computer Equipment o $ 4,000 Office Furniture C. Strong Taxes paid consulting fees, S 3,000 cash. D. Strong Taxes did tax consulting work and charged the client $ 8,000. That amount will be paid in April 2018. E. Sam Strong took a vacation and Strong Taxes paid $ 10,000 cash for the vacation. F. Strong Taxes received a $ 2,500 invoice for placing a radio ad. The invoice will be paid at a later date. G. Strong Taxes did tax planning work and received $ 12,000 for the tax work done. H. Strong Taxes prepared several income tax returns and charged the client $ 4,000. I. Strong Taxes was billed $ 12,000 by its lawyer; Strong Taxes paid cash for half of the billed amount and will pay the remaining balance in May. J. Strong Taxes received cash for the work it had done preparing the income tax returns for a client. Required: 1. Journalize the above transactions using the alphabets (A, B, C, etc.) to identify the transaction. 2. Following Exhibit 2-11 on page 79 in your textbook, open the following ledgers: Cash # 1100 Accounts Receivable # 1200 Office Supplies # 1300 Office Furniture #1400 Computer Equipment #1500 Building #1600 Question 4 (30 marks) DATE 2018 Journal ACCOUNT TITLES AND EXPLANATIONS POST. REF. DEBIT CREDIT / / Fa ACCT 1211: Accounting / A2-7 2. and 3 ACCOUNT DATE 2018 ACCOUNT NO. JRNL. REF. RAE DEBIT ITEM DEBIT CREDIT BALANCE ACCOUNT DATE 2018 JRNL REF ACCOUNT NO. CREDIT BALANCE ITEM DEBIT = = = A2-8 Assignment 2 ACCOUNT NO. ACCOUNT DATE 2018 JRNL. REF. ITEM DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 JRNL REF. ITEM DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 JRNL. REF. ITEM DEBIT CREDIT BALANCE ACCOUNT NO ACCOUNT DATE 2018 JRNL ITEM REF DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 ITEM DEBIT CREDIT BALANCE ACCOUNT NO ACCOUNT DATE 2018 JRNL REF. TEM DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 ITEM JRN REF DEBIT CREDIT BALANCE Focu ACCOUNT NO. ACCOUNT DATE 2018 JRNL. REF. ITEM DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 ITEM JRNL. REF. DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 JRNL. REF. ITEM DEBIT CREDIT BALANCE ACCOUNT NO. ACCOUNT DATE 2018 JRNL. REF. ITEM DEBIT CREDIT BALANCE