Reference no: EM133125729
Question - Ali Brown started a new cleaning business called Ali Enterprises. The following activities occurred during the first month of operations, in April 2021:
April 2. Ali invested $5000 cash in his new company.
April 5. Paid $1400 cash for cleaning supplies just purchased from Ultra Shine Co.
April 10. Purchased $6000 cleaning equipment on account.
April 14. The company rendered a service for a client and immediately earned cleaning fees for $780.
April 18. Ali billed another client for a cleaning service provided on account for $500.
April 22. Paid $360 as wages for his assistant.
April 25. Received $300 from the customer on the transaction happened on April 18.
April 28. Purchased more cleaning supplies for cash, $450.
April 29. Advertising expense due but not yet paid, $150
April 30. Ali Brown paid his personal telephone bill for $70
Required -
1) Prepare the journal entries for the above transactions that occurred in April.
2) Post each journal entry to the T account.
3) Apply the accounting equation to see if you balance.