Follow instructions attached
2
>Required
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Journal Log
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| |
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| 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 “
| Transaction |
s
” 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. |
Transactions
April Transaction
| Amount |
| 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
T-accounts
Fenton Table Rentals Corporation
| Cash |
No.
| 101 |
Acct. Pay. |
No.
| 210 |
Common Stock |
No.
| 320 |
Service Rev. |
No.
| 470 |
| Acct. Rec. |
No.
| 110 |
| Dividends |
No.
| 350 |
Advert. Exp. |
No.
| 610 |
| Rent Exp. |
No.
| 654 |
| Ppd. Rent |
No.
| 162 |
Salaries Exp. |
No.
| 656 |
| Supp. Exp. |
No.
| 668 |
| Unused Supp. |
No.
| 173 |
| Tel. Exp. |
No.
| 669 |
| Truck Op. Exp. |
No.
| 670 |
Jnl. Entries
Fenton Table Rentals Corporation
| GENERAL JOURNAL |
April
2019
| Description |
PR |
Debit Credit
Trial Bal.
Fenton Table Rentals Corporation
| Trial Balance |
|
| At April 30, 2019 |
| Accounts Balances |
| Acct. No. |
Account Title |
Debit Credit
101 Cash
110 Accounts receivable
162 Prepaid rent
173 Unused supplies
210 Accounts payable
320 Common stock
350 Dividends
470
| Service revenue |
610
| Advertising expense |
654
| Rent expense |
656
| Salaries expense |
668
| Supplies expense |
669
| Telephone expense |
670
| Truck operating expense |
Statements
Fenton Table Rentals Corporation Fenton Table Rentals Corporation
| Income Statement |
Balance Sheet |
|
| For the Month Ended April 30, 2019 |
At April 30, 2019
| Revenue |
Assets |
| Expenses |
| Liabilities |
| Stockholders’ Equity |
Fenton Table Rentals Corporation
| Statement of Changes in Equity |
For the Month Ended April 30, 2019
Common stock
| Retained earnings |
Total equity |
| Opening balance |
| Ending balance |
Copyright
| Copyright © 2018 David Annand |
| Published by David Annand |
| Box 308, Rochester AB T0G 1Z0 |
| ISBN: 978-0-9953266-6-8 |
| Library and Archives Canada Cataloguing in Publication |
| Annand, David, 1954– |
| This case is licensed under a Creative Commons License, Attribution–Non-commercial–Share Alike 4.0 USA see www.creativecommons.org. This material may be reproduced for non-commercial purposes and changes may be used by others provided that credit is given to the author. |
| To obtain permission for uses beyond those outlined in the Creative Commons license, such as personalized assignments for students, please contact David Annand at davida@athabascau.ca. |
| Latest version available at https://open.bccampus.ca/find-open-textbooks/ |
| Please forward suggested changes to davida@athabascau.ca. |
| First US Edition |
| July 31, 2018 |
