Answered You can buy a ready-made answer or pick a professional tutor to order an original one.

QUESTION

Karla Tanner opens a Web consulting business called Linkworks and completes the following

Karla Tanner opens a Web consulting business called Linkworks and completes the following transactions in its first month of operations.

Apr-01Tanner invests $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock.

2The company prepaid $9,000 cash for 12 months’ rent for office space. The company's policy is record preapid expenses accounts in the balnce sheet account

3The company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. Payment is due within 10 days.

6The company completed services for a client and immediately received $4,000 cash.

9The company completed a $6,000 project for a client, who must pay within 30 days.

13The company paid $11,600 cash to settle the account payable created on April 3.

19The company paid $2,400 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid exp in Bal Sheet.

22The company received $4,400 cash as partial payment for the work completed on April 9.

25The company completed work for another client for $2,890 on credit.

28The company paid $5,500 cash in dividends.

29The company purchased $600 of additional office supplies on credit.

30The company paid $435 cash for this month’s utility bill.

Descriptions for items that require adjusting entries on April 30, 2015, follows

aon April 2 the company prepaid  $9,000 cash for 12 month rent for office space

bThe balance in prepaid insurance represents the permium paid for a 12 month insurance policy, the coverage began on april 1.

cOffice supplies on hand as of April 30 total $1,200

dStraight line depreciation of office equipment based on 5 year life and a $4,000 salvage value, is $500 per month.

eThe company has completed work for a client, but has not yet billed the $1800 fee.

fWages due to employees, but not yet paid as of April 30 total $2,600.

Show more
  • @
  • 150 orders completed
ANSWER

Tutor has posted answer for $15.00. See answer's preview

$15.00

***** ****** ***** * *** consulting ******** ****** ********* *** ********* *** following ************ ** *** ***** month ** ********************** invests $80000 **** ***** **** ****** equipment ****** ** ****** ** *** company ** ******** for ****** ********* company prepaid $9000 **** for ** ********* **** *** ****** space *** ********* policy is ****** preapid expenses ******** ** *** ****** sheet account3The ******* **** ****** ********* *** $8000 in office ********* and ***** ** office supplies Payment is *** ****** 10 days6The ******* ********* services *** * ****** and immediately received $4000 ******** ******* ********* * $6000 project *** a ****** *** **** pay within ** ********* ******* **** ****** **** ** ****** *** ******* payable ******* ** ***** ****** company **** $2400 cash for *** ******* ** a ******** ********* policy The ********* policy is ****** ******* exp ** *** ********** ******* received $4400 **** ** ******* ******* *** *** **** ********* ** ***** ****** ******* ********* **** *** ******* ****** *** ***** ** *********** ******* **** ***** cash ** dividends29The ******* ********* **** of ********** ****** supplies on *********** company **** **** cash *** this month’s utility billDescriptions *** items **** require ********* ******* on ***** 30 **** followsaon ***** * *** ******* prepaid $9000 **** *** ** ***** rent *** ****** ********* balance in ******* ********* ********** *** ******* **** *** * 12 ***** ********* ****** *** coverage began ** april ******** ******** ** **** ** of ***** 30 total ************** **** depreciation of ****** equipment ***** ** * **** **** *** * ***** ******* value ** $500 *** ********* ******* *** ********* work for * ****** *** *** *** *** ****** *** ***** ********* *** ** ********* *** *** *** **** ** ** ***** ** total *****

Click here to download attached files: Accounting 211-impact on net income.xlsx
or Buy custom answer
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question