Reference no: EM131992898

Question: Accounting Data

A.4/1: Jim invested $100,000 in cash and $50,000 in equipment in the company.

B.4/2: The company prepaid for insurance with $1,200 cash.

C.4/3: The company paid cash for rent totaling $1,200.

D.4/5: The company completed services for a client for cash totaling $8,000.

E.4/10: The company provided a service for $15,000 on account.

F.4/11: The company purchased equipment for $5,000 and supplies for $3,000 on account.

G.4/15: The company paid $1,500 cash for employee salaries.

H.4/24: The company paid $300 cash for utility bills.

I.4/28: The company paid dividends totaling $2,000 cash.

Adjusting entries completed on April 30

J.Insurance expired for the month of April.

K.An ending count determined that supplies totaled $2,600.

L.Wages of $3,000 were earned but not paid.

M.Services of $5,000 were earned but not billed.

N.Depreciation on the equipment is $500 per month.

Using the above data, complete the following:

• Journal entries

• Posting to T-accounts

• Trial balance

• Adjusting entries

• Adjusting trial balance

• Income statement

• Statement of retained earnings

• Balance sheet and closing entries

Information related to above question is enclosed below:

Attachment:- ACCT460_Week 1_IP_Template.rar