Chad Simpson started a mobile DJ business named Sounds on Wheels, Inc., on April 1, 2016. In the month of April, prior to providing services to customers, the business incurred six transactions which have been posted to the accounts as follows:

Requirements
1. Based on the accounts, create the journal entries that resulted from the six transactions.
Include explanations with each journal entry.
2. Calculate the ending balance in each account.
3. Prepare the trial balance for Sounds on Wheels, Inc., at April 30, 2016.
4. Prepare a balance sheet for Sounds on Wheels, Inc., as of April 30, 2016?

Transcribed Image Text:

Cash 33,000 (4) (5) (6) Supplies 400| Equipment 9,000 (4) Building 75,000 9,000 || (2) (1) 7,000 100 Notes Payable Accounts Payable Common Stock 100 (2) (6) 7,000 (3) T(1) 33,000 75,000 400 (5)