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Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations. stock April 1 Tanner invested $125,000 cash along with office equipment valued at $30,00 n the company in exchange for c 2 The company prepaid $7,200 cash for 12 months' rent for office space. (Hint: Debit Prepaid Rent for $7,280.) 3 The company made credit purchases for $15,000 in office equipment and $3,000 in office supplies. Payment is due within 10 days. 9 The company completed a $10,000 project for a client, who nust 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,e00.) 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 $2,640 on credit 28 The company paid $6,200 cash in dividends 29 The company purchased $1,000 of additional office supplies on credit 30 The company paid $700 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 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 nt (163) Accounts Payable (201): Common Stock (307) Complete this question by entering your answers in the tabs below. 10f 4 Next > to search