Transaction Entries, Posting Trial Balance, and Adjusting Entries Mark Gold opened Gold Roofing Service on April 1. Transactions for April are as follows Gold contributed his personal funds in exchange for common stock to begin the business $15,000 22 Purchased a used truck for cash 6,100 Purchased ladders and other equipment for a total of 3.100 Paid cash of $1,000, with the balance due in 30 days, 4 Paid two year premium on lability insurance 5 Purchased supplies on account Received an advance payment from a customer for roof repair work to be done in April and May 7 Bled customers for roofing services 6,000 1,200 1,800 9.000 8 Collected on account from customers 6,500 9 Paid bill for truck fuel used in April. 75 10 Paid April newspaper advertising 100 11 Paid assistants wages 4,500 12 Bled customers for roofing services. 5,000 Required a. Set up a general ledger with the following accounts: Cash Accounts Receivable; Supplies: Prepaid Insurance: Trucks; Accumulated Depreciation-Trucks: Equipment; Accumulated Depreciation Equipment Accounts Payable; Unearned Roofing Fees; Common Stock; Roofing Fees Earned: Fuel Expense; Advertising Expense: Wages Expense: Insurance Expense; Supplies Expense; Depreciation Expense-Trucks; and Depreciation Expense-Equipment. b. Record these transactions in the general journal and post to the ledger accounts. c. Prepare an unadjusted trial balance as of April 30.1 books for insurance expense, supplies expense, depreciation expense on the truck, depreciation expense on the equipment, and roofing fees earned. a Set up a general ledger with the following accounts: Cash Accounts Receivable, Supplies Prepaid Insurance: Trucks Accumulated Depreciation Trucks: Equipment Accumulated Depreciation Equipment Accounts Payable: Unearned Roofing Fees: Common Stock Roofing Fees Earned: Fuel Expense; Advertising Expense, Wages Expense Insurance Expense Supplies Expense: Depreciation Expense-Trucks; and Depreciation Expense Equipment b. Record these transactions in the general journal and post to the ledger accounts c. Prepare an unadjusted trial balance as of April 30. d. Prepare the journal entries to adjust the books for insurance expense, supplies expense, depreciation expense on the truck, depreciation expense on the equipment, and roofing fees earned Supplies on hand on April 30 amounted to $950. Depreciation for April was $155 on the truck and $35 on the equipment. One-fourth of the roofing fee received in advance was eamed by April 30, Post the adjusting entries. Journal Entries Date April T-Accounts Unadjusted Trial Balance Adjusted Journal Entries General Journal Description Post ref Debit Credit To record issuance of common stock To record purchase of truck Cash To record purchase of equipment, 0 (2) 0 0 0 0 13) 0 0 0 (4) 0 : D 0 Paid two-year premium on liability insurance. = (5) 0 0 0 0 To record supplies on account (6) 0 0 = 9 0 G Received advance payment for services To record purchase of truck. Cash + 4 To record purchase of equipment. 4P Paid two-year premium on liability insurance. To record supplies on account. Received advance payment for services. To record billings for services. (3) 0 0 0 0 0 0 (4) 0 0 0 0 4 e Collection on account from customers. To record fuel expense for truck. (5) 0 0 0 O (6) 0 0 0 0 (7) 0 0 0 0 (8) 0 0 0 0 (9) 0 0 0 0 (10) 0 0 + 0 0 Paid for April newspaper advertising. + (11) 0 0 0 0 Paid assistants wages. Billed customers for service. Th 4 " (12) 0 0 0