Ruberstein inc was founded on april 1 and entered into the

Reference no: EM13605395

Ruberstein, Inc. was founded on April 1 and entered into the following transactions: Apr 1: Issued common stock to shareholders in exchange for cash, $20,000 Apr 1: Purchased a delivery van (equipment), $13,000 Apr 1: Purchased a one-year insurance policy to be consumed evenly over the next 12 months, $4800 Apr 1: Took out a loan from First Bank, $20,000 Apr 6: Hired two new monthly employees on salary of $1000/month each. Apr 7: Purchased office supplies on credit, $1200 Apr 8: Billed customers for services provided, $7500 Apr 12: Paid to have an ad placed on a billboard during April, $1300 Apr 18: Billed customers for services provided, $8600 Apr 24: Paid dividends to stockholders, $1000 Apr 30: Received utility bills for the month of April to be paid next month, $740 Apr 30: Prepaid the next six months of rent starting with May, $3600 April depreciation for the delivery van is $217. Interest on the loan from the bank is paid annually at a rate of 6% An inventory count of office supplies at April 30 showed $500 of supplies on hand. Prepaid insurance has expired Employees' salaries earned during April but to be paid in May, $2000.

a. Journalize transactions for April

b. Post Journal entries to general ledger using T accounts

c. prepare trial balance as of Apr 30

d. Prepare adjusting journal entries and post entries to appropriate t accounts

e. Prepare adjusted trial balance as of Apr 30

f. Prepare an income statement and statement of retained earnings for April. Prepare a classified balance sheet as of Apr 30.

g. Prepare closing entries for temporary accounts and post entries to appropriate t accounts

h. Prepare post closing trial balance as of Apr 30.

Reference no: EM13605395

Questions Cloud

John paul and george are standing in a strawberry field : john paul and george are standing in a strawberry field. paul is 10.0m due west of john. george is 35.0m from paul in a

Outback outfitters sells recreational equipment one of the : outback outfitters sells recreational equipment. one of the companys products a small camp stove sells for 140 per

What is the major difference between the dominance : what is the major difference between the dominance criterion and other decision-making criteria under

At state 2 the pressure is 2 atm employing the ideal gas : one pound of air undergoes a thermodynamic cycle consisting of three processes process 1-2 constant specific volume

Ruberstein inc was founded on april 1 and entered into the : ruberstein inc. was founded on april 1 and entered into the following transactions apr 1 issued common stock to

After a fourth unmeasured displacement she finds herself : a spelunker is surveying a cave. she follows a passage 160m straight west then 290m in a direction 45 degree east of

Slosh cleaning corporation services both residential and : slosh cleaning corporation services both residential and commercial customers. slosh expects the following operating

Use the moment-generating function technique to rework this : use the moment-generating function technique to rework this problemif xsub1 and xsub2 are independent random variables

If the hoop is 305 m above the ground with what speed must : dr. white may be great at physics and a fan of the nba but he has no place on a court yet for the sake of a physics

User Account

All Pages