Chapter 2 a.   Collected cash owed by a customer         $1,000 b.   Billed customers for tables rented to date       1,000 c.   Paid the following expenses:                    Advertising             100       Salaries               1,000       Telephone             500 d.   Paid part of the accounts payable owing at April 1       800 e.   Received a bill for April truck repair expenses       500 f.   Collected cash owed by a customer         2,900 g.   Billed customers for tables rented to date       2,000 h.   Transferred prepaid rent to rent expense       60 i.   Counted supplies and found this amount still on hand (recorded the amount used as an expense)     300         j.   Paid a dividend             700                         The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019.                         April 1 balances: Debit Credit             Cash   5,000               Accounts receivable 5,000               Prepaid rent 200               Unused supplies 500               Accounts payable   4,000             Common stock   6,700                               Required:                 1 Prepare journal entries to record the April transactions shown on the "Transactions" page (see tab below). Include general ledger account numbers.                                2 Post the transactions to the T- accounts.                             3 Prepare a trial balance at April 30, 2019.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Chapter 2

a.   Collected cash owed by a customer         $1,000
b.   Billed customers for tables rented to date       1,000
c.   Paid the following expenses:             
      Advertising             100
      Salaries               1,000
      Telephone             500
d.   Paid part of the accounts payable owing at April 1       800
e.   Received a bill for April truck repair expenses       500
f.   Collected cash owed by a customer         2,900
g.   Billed customers for tables rented to date       2,000
h.   Transferred prepaid rent to rent expense       60
i.   Counted supplies and found this amount still on hand (recorded the amount used as an expense)     300
       
j.   Paid a dividend             700
                     
  The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019.
 
                   
  April 1 balances: Debit Credit        
    Cash   5,000          
    Accounts receivable 5,000          
    Prepaid rent 200          
    Unused supplies 500          
    Accounts payable   4,000        
    Common stock   6,700        
                   
  Required:              
  1 Prepare journal entries to record the April transactions shown on the "Transactions" page (see tab below). Include general ledger account numbers. 
   
   
                   
  2 Post the transactions to the T- accounts.      
                   
  3 Prepare a trial balance at April 30, 2019.
                   
  4 Prepare an interim income statement and statement of changes in equity for the month ended April 30, 2019 and interim balance sheet at April 30, 2019.  
     
                   
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