Reference no: EM132495354

Nancy Williams started her Bookkeeping Service, which is NOT registered for the GST. The following transactions related t her first month of operations. For each transaction, analyse which accounts would be affected, which type of account they are and whether the account would increase or decrease as a result of the transaction. After analysis, you also need to fulfil the requirements.

1. On April 1, Nancy invested/deposited $22,000 in a bank account under her business name NW Solutions.
2. On April 6, NW Solutions paid $5,000 for the purchase of equipment.
3. On April 11, NW Solutions purchased supplies for $960 paid $170 cash and the remaining on account.
4. On April 19, NW Solutions received cash of $6,150 from clients for services provided.
5. On April 30, NW Solutions incurred and paid the following expenses: rent of $1,000; and wages and salaries of $900.
6. On April 30, NW Solutions paid creditors/suppliers on account, $190.
7. It has been determined that the cost of supplies on hand on April 30 was $260.

Required:

Question 1: Record the above transactions in the general journal.

Question 2: Post all entries to the general ledger.

Question 3: Prepare the Trial Balance (Unadjusted) at the end of April.