The Generals Favorite Fishing Hole Chart of Accounts Assets Revenues 101 Cash 401 Registration Fees 142 Office Supplies 144 Food Supplies 145 Prepaid Insurance 181 Boats Expenses 181.1 Accum. Depr. Fishing Boats 511 Wages Expense 521 Rent Expense Liabilities 523 Office Supplies Expense 202 Accounts Payable 524 Food Supplies Expense 219 Wages Payable 525 Telephone Expense 533 Utilities Expense 535 Insurance Expense Owners Equity 536 Postage Expense 311 Bob Night, Capital 542 Depr. Exp. Fishing Boats 312 Bob Night, Drawing 313 Income Summary The Following transactions took place during April 20 Apr. 1 Night invested cash in business, $90,000 1 Paid Insurance premium for camping season $9,000 2 Paid Rent for lodge & campgrounds for camping season, $40,000 2 Deposited registration fees, $35,000 2 Purchased ten fishing boats on account for $60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. Arrangements were made to pay for the boats in July 3 Purchased food supplies from Acme Super Market on account, $7,000 5 Purchased office supplies from Gordon Office Supplies on account, $500 7 Deposited registration fees, $38,600 10 Purchased food supplies from Acme Super Market on account, $8,200 10 Paid wages to fishing guides, $10,000 14 Deposited registration fees, $30,500 16 Purchased food supplies from Acme Super Market on account, $9,000 17 Paid wages to fishing guides, $10,000 18 Paid postage, $150 21 Deposited registration fees, $35,600 24 Purchased food supplies from Acme Super Market on account, $8,500 24 Paid wages to fishing guides, $10,000 28 Deposited registration fees, $32,000 29 Paid wages to fishing guides, $10,000 30 Purchased food supplies from Acme Super Market on account, $6,000 30 Paid Acme Super Market on account, $32,700 30 Paid utilities bill, $2,000 30 Paid telephone bill, $1,200 30 Bob Night withdrew cash for personal use, $6,000 Adjustment Information for the end of April is provided below: (a) Office supplies remaining on hand, $100 (b) Food supplies remaining on hand, $8,000 (c) Insurance expired during the month of April, $1,500 (d) Depreciation on the fishing boats for the month of April, $1,000 (e) Wages earned but not yet paid at the end of April, $500 REQUIRED: 1, Enter the above transactions in a general journal. Enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 & the first two entries for April 30 on page 3, & the remaining entries for April 30 on page 4. 2. Post the entries to the general ledger. (If not using the working papers that accompany this text, you will need to enter the account titles & account numbers in the general ledger accounts.) 3. Prepare a trial balance on a work sheet. 4. Complete the work sheet. 5. Prepare the income statement. 6. Prepare the statement of owners equity. 7. Prepare the balance sheet. 8. Journalize the adjusting entries. 9. Post the adjusting entries to the general ledger. 10. Journalize the closing entries. 11. Post the closing entries to the general ledger. 12. Prepare a post-closing trial balance