Sunny Valley Stables Inc. was established on April 1, 2017. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant financial controller. The following transactions for April 2017 are provided for your review a. Received contributions from five investors of $260,000 in cash (552,000 each b. Built a barn for $166,000 paid half the amount in cash on April and signed a three-year note payable for the balance Provided $16.460 in animal care services for customers, alon credit d. Rented stables to customers who cared for their own animals, received cash of $14.280. e. Received from a customer $1,800 to board her horse in May, June and July Record as Deferred Revenue Purchased hay and feed supplies on account for $3.510 Paid $960 in cash for water utilities incurred in the month h. Paid $1880 on accounts payable for previous purchases Received $1120 from customers on accounts receivable Paid $4.480 in wages to employees who worked during the month kAt the end of the month, prepaid a two-year insurance policy for $4.000 Received an electric utility bill for $1320 for usage in April bill will be paid next month Required: 1. & 2. Record in the T-accounts the effects of each transaction for Sunny Valley Stables in April, referencing each transaction in the accounts with the transaction letter. All accounts begin with zero balances. Show the unadjusted ending balances in the Taccounts Cash Accounts Receivable Beg bal Beg hal End bal End bal Supplies Prepaidat Beg har Beghel E e DELL End bal Supplies Beg bal. Prepaid Insurance Beg bal End bal End, bal Accounts Payable Beg bal Beg bal End bal End bal Deferred Revenue Long-term Notes Payable Beg bal Beg bal End, bal End bal Contributed Capital Animal Care Service Reve Beghel Beg bal End, bal End ball Utilities Expense Rental Revenue Beg bal Beg bal E (D OR DELL End bal End bal Contributed Capital Beg bal Amal Care Service Revenue Beg bal End bal Endbal Rental Revenue Beg bal Beg bal Endbal Endbal Wages Expense Beg bal End, bal 3. Prepare an unadjusted trial balance as of April 30, 2017 SUNNY VALLEY STABLES, INC. Unadjusted Trial Balance At Apr 30, 2017 Account E e DELL 3. Prepare an unadjusted trial balance as of April 30, 2017 Credit SUNNY VALLEY STABLES, INC. Unadjusted Trial Balance At April 30, 2017 Account Titles Debit Cash Accounts receivable Supplies Prepaid insurance Barns Accounts payable Deferred revenue Long term notes payable Contributed capital Animal care service revenue Rental revenue Uites expense Wages expense $ Totals os 4. Not available in Connect
