Journalize and Post Transactions and Adjustments

D$.$ Roulstone opened Roulstone Roofing Service on April $1.$ Transactions for April follow.

April $1$ Roulstone contributed $$11,500$ cash to the business in exchange for common stock. $2$ Paid $$6,100$ cash for the purchase of a used truck. $2$ Purchased $$6,200$ of ladders and other equipment; the company paid $$1,000$ cash, with the balance due in $30$ days. $3$ Paid $$2,880$ cash for a two$-$year $($or $24-$month$)$ premium toward liability insurance. $5$ Purchased $$1,200$ of supplies on credit. $5$ Received an advance of $$1,800$ cash from a customer for roof repairs to be done during April and May. $12$ Billed customers $$5,500$ for roofing services performed. $18$ Collected $$4,900$ cash from customers toward their accounts billed on April $12.29$ Paid $$675$ cash for truck fuel used in April. $30$ Paid $$100$ cash for April newspaper advertising. $30$ Paid $$4,500$ cash for assistants$$ wages earned. $30$ Billed customers $$4,000$ for roofing services performed.

Required

a$.$ T$-$accounts are provided for the following accounts: cash, accounts receivable, supplies, prepaid insurance, trucks, accumulated depreciation$$trucks$,$ equipment, accumulated depreciation$$equipment$,$ accounts payable, unearned roofing fees, common stock, roofing fees earned, fuel expense, advertising expense, wages expense, insurance expense, supplies expense, depreciation expense$$trucks$,$ and depreciation expense$$equipment$.$

b$.$ Record these transactions for April using journal entries.

c$.$ Post the journal entries from part b$.$ to their T$-$accounts $($reference transactions in T$-$accounts by date$).$

d$.$ Prepare journal entries to adjust the following accounts: insurance expense, supplies expense, depreciation expense$$trucks$,$ depreciation expense$$equipment$,$ and roofing fees earned. Supplies still available on April $30$ amount to $$200.$ Depreciation for April was $$125$ on the truck and $$35$ on equipment. One$-$fourth of the roofing fee received on April $5$ was earned by April $30.$

e$.$ Post the adjusting journal entries from part d$.$ to their T$-$accounts.

Journal Entries for Transactions

Journal Entries for Accounting Adjustments

T$-$Accounts

Note: Post transactions in the same order as the journal entries using the first available answer field on the appropriate debit or credit side of the T$-$Account.

CashAnswer $36$Answer $37$Answer $38$Answer $39$Answer $40$Answer $41$Answer $42$Answer $43$Answer $44$Answer $45$Answer $46$Bal.Answer $47$

Accounts ReceivableAnswer $48$Answer $49$Answer $50$Answer $51$Bal.Answer $52$

SuppliesAnswer $53$Answer $54$Answer $55$Bal.Answer $56$

Prepaid InsuranceAnswer $57$Answer $58$Answer $59$Bal.Answer $60$

EquipmentAnswer $61$Answer $62$Answer $63$Bal.Answer $64$

Accumulated Depreciation: EquipmentAnswer $65$Answer $66$Answer $67$Answer $68$Bal.

TruckAnswer $69$Answer $70$Answer $71$Bal.Answer $72$

Accumulated Depreciation: TruckAnswer $73$Answer $74$Answer $75$Answer $76$Bal.

Accounts PayableAnswer $77$Answer $78$Answer $79$Answer $80$Bal.

Unearned Roofing Fees LiabilityAnswer $81$Answer $82$Answer $83$Answer $84$Bal.

Common StockAnswer $85$Answer $86$Answer $87$Answer $88$Bal.

Roofing Fees RevenueAnswer $89$Answer $90$Answer $91$Answer $92$Answer $93$Answer $94$Bal.

Fuel ExpenseAnswer $95$Answer $96$Answer $97$Bal.Answer $98$

Advertising ExpenseAnswer $99$Answer $100$Answer $101$Bal.Answer $102$

Wages ExpenseAnswer $103$Answer $104$Answer $105$Bal.Answer $106$

Insurance ExpenseAnswer $107$Answer $108$Answer $109$Bal.Answer $110$

Supplies ExpenseAnswer $111$Answer $112$Answer $113$Bal.Answer $114$

Depreciation Expense: TruckAnswer $115$Answer $116$Answer $117$Bal.Answer $118$