Tim Sasse started Sasse Roof Repairs on April 2, 2024, by investing $4,000 cash in the business.

Question:

Tim Sasse started Sasse Roof Repairs on April 2, 2024, by investing $4,000 cash in the business. During April, the following transactions occurred:
Apr. 6 Purchased supplies for $1,500 cash.

15 Repaired a roof for a customer and collected $600 cash.

25 Received $2,200 cash in advance from a customer for roof repairs to his house and garage. On April 30, 2024, the following information was available:
1. At April 30, services of $600 were provided but were neither billed nor recorded.
2. There is $800 of supplies on hand.
3. Of the $2,200 received on April 25, the company has provided services of $800 by completing repairs to the garage roof.


Instructions
a. Journalize the transactions.
b. Post to the ledger accounts. (Use T accounts.)
c. Journalize and post any required adjusting entries.
d. Prepare an adjusted trial balance.
e. Assuming the company closes its books on a monthly basis, journalize and post closing entries.

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Related Book For  book-img-for-question

Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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