I need help with this answer with the general ledger. ?Files attached
Karla Tanner opens a web consulting business called Linkworks and recorded the following transactions
in its first month of operations.
Apr. Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in
exchange for common stock.
Apr. The company prepaid $9,000 cash for twelve months? rent for office space. The company's policy
is record prepaid expenses in balance sheet accounts.
Apr. The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies.
Payment is due within 10 days.
The company completed services for a client and immediately received $4,000 cash.
The company completed a $6,000 project for a client, who must pay within 30 days.
13 The company paid $11,600 cash to settle the account payable created on April 3.
Apr. The company paid $2,400 cash for the premium on a 12-month insurance policy. The company's
19 policy is record prepaid expenses in balance sheet accounts.
22 The company received $4,400 cash as partial payment for the work completed on April 9.
25 The company completed work for another client for $2,890 on credit.
28 The company paid $5,500 cash in dividends.
29 The company purchased $600 of additional office supplies on credit.
30 The company paid $435 cash for this month?s utility bill.
Descriptions of items that require adjusting entries on April 30, 2015, follow.
a) On April 2, the company prepaid $9,000 cash for twelve months' rent for office space.
The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy;
b) the policy's coverage began on April 1.
c) Office supplies on hand as of April 30 total $1,200.
Straight-line depreciation of office equipment, based on a 5-year life and a $4,000 salvage value,
d) is $500 per month.
e) The company has completed work for a client, but has not yet billed the $1,800 fee.
Wages due to employees, but not yet paid, as of April 30 total $2,600.