Transaction Date Week 1 April 1 3 Zita contributes $7,000 to commence the business! Zita borrows $15,000 from Fremont Bank for three years with interest charged at 9% (anmuually) Zita hires two staff to be paid every 2 weeks (on a Thursday) Zita sighs a rent contract on a shop and pays $2,300 for two months rent (April and She purchases four ice-cream freezers for $600 each. The estimated life is 8 years using straight line depreciation and Zita bebeves that she could sell the freezers at the end of this time for $120 each Zita rents a portable ice-cream trailer for catering She pays $200 for the month of April Zita purchases an Ipad which will be used as a cash register for $576. The estimated life is 4 years using straight-line depreciation Zita also purchases supphes (ice-cream boxes, napkns etc.) for $140 cash? Zita purchases bulk ice-cream on credit from Sandhu Stores for $1,024. Zita pays $960 for insurance for the year April 1, 2021-March 31, 2022. Further information: a) Adjust prepaid rent and prepaid insurance b) A count of supplies indicates that $45 remain on hand at month end. c) Interest on the bank loan is charged at 9 per cent per annum and is paid quarterly with the next payment of $1,440.26 due on 1 July (round interest expense to the nearest dollar).4 d) An electricity bill for $162 for April was received on 2 July. The amount has not yet been recorded. e) The estimated telephone for April is $42. f) Depreciation is charged in proportion for each month (depreciation is charged in full for the month the asset is purchased) g) Calculate accrued wages for April 29 and April 30. 4 6 Stage 1 (Journal entries. T accounts and Unadjusted trial balance) 1. Make appropriate journal entries for the ZZ Pops's transactions for the month of April 2021. 2. Post journal transactions to the ledger accounts as specified in the accounting system information section of the introduction. 3. Prepare the unadjusted trial balance as at 30 April. Week 2 10 On Saturday 10th April, Zita supphed re-cream for Lucy Hemandez' wedding That evening she sent Mr Hemandez an invoice for $810. Terns 3/10, 1/30 (The cost of materials was $340) 1 Mr Hernandez rang to conplan that four buckets of ice-cream had melted. Zita agreed to give him a credit for $110. 12 Zita purchases candy for add-in ice-cream mixing for $116 cash 14 Ice-cream cash sales for the week are $1,700. (The cost of sales was $730) Week 3 April Week 4 15 Wages of $360 per employee, per week were paid to enployees for the two-week period ended April 15th Zita withheld a total of $160 ($80 from each employee) for taxes. 18 Mr Hernandez paid for his daughter's wedding (less amount for returned ice-creams) 19 Purchased supplies for $70 on credit Paid for ice-cream ingredients bought on April 6. 20 Purchased ice-cream ngredients for $3,880 on credit Zita supphed ice-cream for a graduation finction for La Vista Community College and prepared an invoice for $1500. Tems 3/10, 1/30 (The cost of material was $695) 21 Recorded re-cream cash sales for the week, $3384. (The cost of ingredients was $1322) 22 Paid for supples purchased April 19. 24 Paid $220 to Adrana's Ads for advertising 26 Received gas bill of $116. 28 Recorded ice-cream cash sales for the week. $2.950. (The cost of ingredients was $1136) 29 Wages of $360 per employee, per week were paid to employees for the two-week penod ended April 15th Zita withheld a total of $160 ($80 from each employee) for taxes. 30 La Vista paid the amount owing from the April 20 graduation ceremony. Zita paid herself an amount of $600 from the business profits Recorded ice-cream cash sales for the final two days $856. (The cost of ingredients was $380) Week 5