Part 1 JOURNAL				PAGE 1
Date	Account Title	Post. Ref.	Debit	Credit
2018
Apr. 1	Cash		20000
	Accounts receivable		14700
	Supplies		3300
	Office equipment		12000
	Common stock			50000
	(To record common stock issued)
Apr. 1	Prepaid rent		6000
	Cash			6000
	(To record rent prepaid)
Apr. 2	Prepaid insurance		4200
	Cash			4200
	(To record insurance prepaid)
Apr. 4	Cash		9400
	Unearned fees			9400
	(To record advance collected from customers)
Apr. 5	Office equipment		8000
	Accounts payable			8000
	(To record office equipment purchased on account)
Apr. 6	Cash		11700
	Accounts receivable			11700
	(To record collection on account)
Apr. 10	Miscellaneous expense		350
	Cash			350
	(To record advertising expense paid)
Apr. 12	Accounts payable		6400
	Cash			6400
	(To record collection on account)
Apr. 12	Accounts receivable		21900
	Fees earned			21900
	(To record fees earned on account)
Apr. 14	Salary expense		1650
	Cash			1650
	(To record salary paid)

JOURNAL				PAGE 2
Date	Account Title	Post. Ref.	Debit	Credit
2018
Apr. 17	Cash		6600
	Fees earned			6600
	(To record cash fees earned)
Apr. 18	Supplies		725
	Cash			725
	(To record purchase of supplies)
Apr. 20	Accounts receivable		16800
	Fees earned			16800
	(To record fees earned on account)
Apr. 24	Cash		4450
	Fees earned			4450
	(To record cash fees earned)
Apr. 26	Cash		26500
	Accounts receivable			26500
	(To record collection on account)
Apr. 27	Salary expense		1650
	Cash			1650
	(To record salary paid)
Apr. 29	Miscellaneous expense		540
	Cash			540
	(To record telephone bill paid)
Apr. 30	Miscellaneous expense		760
	Cash			760
	(To record electricity bill paid)
Apr. 30	Cash		5160
	Fees earned			5160
	(To record cash fees earned)
Apr. 30	Accounts receivable		2590
	Fees earned			2590
	(To record fees earned on account)
Apr. 30	Dividends		18000
	Cash			18000
	(To record dividends paid)

Note: The advertising, telephone, and electricity expenses are debited to miscellaneous expense since there are no separate expense accounts provided for the same.

GENERAL JOURNAL

PAGE 3

Date

Account Title

Post. Ref.

Debit

Credit

2018

Adjusting Entries

a. Apr. 30

Insurance expense

350

Prepaid insurance

350

(To record expired insurance)

b. Apr. 30

Supplies expense

2800

Supplies (3300 + 725 -1225)

2800

(To record supplies used)

c. Apr. 30

Depreciation expense

400

Accumulated depreciation

400

(To record depreciation expense)

d. Apr. 30

Salary expense

275

Salaries payable

275

(To record salary accrued)

e. Apr. 30

Rent expense

2000

Prepaid rent

2000

(To record expired rent)

f. Apr. 30

Unearned fees

7050

Fees earned (9400 - 2350)

7050

(To record fees earned)

In the spreadsheet, prepare the adjusted trial balance.

4. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6).

a. Insurance expired during April is $350. b. Supplies on hand on April 30 are $1,225. c. Depreciation of office equipment for April is $400. d. Accrued receptionist salary on April 30 is $275. e. Rent expired during April is $2,000. f. Unearned fees on April 30 are $2,350.

8. Prepare an income statement, a retained earnings statement, and a balance sheet.

Rosebud Consulting Income Statement For the Month Ended April 30, 2018
Expenses:
Total Expenses

If an answer is zero, enter "0".

Rosebud Consulting Retained Earnings Statement For the Month Ended April 30, 2018

Rosebud Consulting Balance Sheet April 30, 2018
Assets			Liabilities
Current assets:			Current liabilities:
			Total liabilities
Total current assets
Property, plant and equipment:			Stockholders' Equity
Total property, plant and equipment			Total stockholders' equity
Total assets			Total liabilities and stockholders' equity

9. Journalize the closing entries on Page 4 of the journal. (Do not insert the account numbers in the journal at this time.) Post the closing entries to the general ledger in the spreadsheet. Then go back and enter the appropriate posting references in the journal. (Income Summary is account #34 in the chart of accounts.)

For a compound transaction, if an amount box does not require an entry, leave it blank.

GENERAL JOURNAL				PAGE 4
Date	Description	Post.Ref.	Debit	Credit
2018	Closing Entries

10. Prepare a post-closing trial balance. List the accounts in order by type: Assets, Liablities, Capital, Dividends, Revenue, and Expenses. If an amount box does not require an entry, leave it blank.

Rosebud Consulting Post-Closing Trial Balance April 30, 2018
	Debit Balances	Credit Balances