QUESTIONS 2-10 NEED ANSWERS. I NEED GENERAL LEDGER, THE WORKSHEET, INCOME STATEMENT, STAMENT OF OWNERS EQUITY, ADJUSTING AND CLOSING ENTRIES. 
During the month of April, 2020, Stevens Tax Service entered into the following transactions: Apr. 3. Received cash from clients as advance payments for services to be provided and recorded it as unearned fees, $4,500 5. Received cash from clients on account, $5,550. 8. Paid cash for an online advertisement for $600. 10. Paid Office Depot on account, $1,000. 12. Recorded services provided on account for the period of April 1-15, $9,450. 14. Paid receptionist for two weeks' salary $1,500. 15. Recorded cash from cash clients for fees earned during the period of April 1-15, $8,300. 16. Purchased office supplies on account, $1,500. 20. Paid telephone bill, $500. 21. Paid electricity bill, $720 25. Recorded cash received from clients on account, $6,200. 28. Paid receptionist for two weeks' pay, $1,500. 30. Recorded cash from cash clients for fees earned for the period March 16-30, $8,900. 30. Recorded services on account for February 16-30, $10,600. 30. Janet withdrew $9,000 for personal use. Instructions: 1. Journalize each of the April transactions in the two-column journal provided. Record transactions for April 1-15 on page 5 of the journal. Record transactions for April 16-30 on page 6 of the journal. Only use accounts listed in the Chart of Accounts. 2. Post the transactions from the journal to the general ledger accounts. 3. Prepare an unadjusted trial balance on the worksheet provided. 4. At the end of April, the following adjustment data were assembled. Analyze and use this data to prepare and journalize the adjusting journal entries in journal page 7: a. Insurance expired during April, $250. b. Supplies on hand on April 30, $1,250. c. Depreciation on office equipment for April, $350. d. Rent expired during April, $500. e. Unearned fees on April 30, $3,400. 5. Enter the adjusting entries on the worksheet and complete all ten columns of the worksheet. 6. Post the adjusting journal entries in the general ledger accounts. 7. Prepare an income statement, statement of owner's equity, and classified balance sheet. 8. Prepare and journalize the closing entries on page 8 of the journal. 9. Post the closing entries in the general ledger accounts. 10. Prepare a post-closing trial balance as of April 30, 2020. 2 2 ACC120 - Principles of Financial Accounting 2020 Mid-Term Problem Information Janet Stevens began her tax business, Stevens Tax Service, on February 1, 2020. Below is the Chart of Accounts for the company: Acct # 11 12 14 15 16 18 19 21 23 31 32 41 51 52 53 54 55 59 Account Title Cash Accounts receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Unearned Fees Janet Stevens, Capital Janet Stevens, Drawing Fees Earned Salary Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense After closing the books at the end of March, Stevens Tax Service had the following post-closing trial balance: Credit Acct # 11 12 14 15 16 18 19 21 23 31 Stevens Tax Service Post-Closing Trial Balance March 31, 2020 Account Title Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment Accumulated Depreciation Accounts Payable Unearned Fees Janet Stevens, Capital Totals Debit 12,800 9,750 725 5,000 2,250 10,500 700 1,510 1,800 37,015 41,025 41,025 1 2 3 ACCOUNT Cass 4 ACCOUNT NO If BALANCE POS T DEBIT CREDIT DEBIT CREDIT Y 12,800 5 DATE ITEM 6 2020 7 Apr. 1 Balance 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 ACCOUNT Jacowns Receivate 30 ACCOUNT NO BALANCE POS T DEBIT CREDIT DEBIT CREDIT Y 9,750 31 DATE ITEM 32 2020 33 Apr. 1 Balance 34 35 36 37 38 39 40 41 42 43 44 45 46 47 ACCOUNT Sures 48 ACCOUNT NO BALANCE POS T ITEM DEBIT CREDIT DEBIT CREDIT 49 DATE 50 2020 Stevens Tax Service Work Sheet For the Month Ended April 30, 2020 TRIAL BALANCE DEBIT CREDIT 31,430 ADJUSTMENTS DEBIT CREDIT ADJ TRIAL BALANCE INCOME STATEMENT DEBIT CREDIT DEBIT CREDIT 31,430 BALANCE SHEET DEBIT CREDIT 2 3 4 5 6 7 ACCOUNT TITLE 8 Cash 9 Accounts Receivable 10 Supplies 11 Prepaid Rent 12 Prepaid Insurance 13 Office Equipment 14 Accumulated Depreciation 15 Accounts Payable 16 Unearned Fees 17 Janet Stgevens, Capital 18 Janet Stevens, Drawing 19 Fees Earned 20 Salary Expense 21 Rent Expense 22 Supplies Expense 23 Depreciation Expense 24 Insurance Expense 25 Miscellaneous Expense 26 27 Net Income 28 29 30 31 32 33 34 35 Stevens Tax Service Income Statement For the Month Ended April 30, 2020 3 4 5 5 7 3 0 1 2 3 4 5 6 7 8 9 Stevens Tax Service Statement of Owner's Equity For the Month Ended April 30, 2020 0 0 7 General Ledger Worksheet IS and Stat of OE Balance Sheet Adjusti Ready Name: 2 3 JOURNAL Page 7 Post Ref. Debit Credit Description Adjusting Entries Date 5 2020 5 Apr. 30 7 3 0 1 2 3 4 5 6 7 8 9 0 -1 2 3 -4 -5 6 7 8 4
