part 2

part 2 and 3 the same multiple choice as the 1 question

2 01:49:38 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. The company completed services for a client and immediately received $7,600 cash. April 6 April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet General Journal tab - For each transaction, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. 2 01:48:54 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $7,600 cash. April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Requirement Unadjusted Revenues: Services revenue Total revenues Expenses: Rent expense General Journal Use the drop-downs to select the accounts properly included on the income statement. The unadjusted balances will appear for each account, based on your selection. Wages expense Utilities expense General Ledger Total expenses Net income Insurance expense Office supplies expense Depreciation expense - Office equipment Trial Balance SOLID SYSTEMS Income Statement For Month Ended April 30, 2021 $ Income Statement adjusted 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 131: Prepaid rent Utilities expense Total expenses Net income 0 0 0 0 0 2,700 0 302: A. Mohr, Withdrawals 403: Services revenue 501: Rent expense 502: Insurance expense 503: Office supplies expense 505: Wages expense Utilities expense Total expenses Net income 502: Insurance expense 503: Office supplies expense 505: Wages expense 510: Depreciation expense - Office equipment 690: Utilities expense Utilities expense Total expenses Net income 2 01:47:16 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company nade credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $7,600 cash. April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Unadjusted Current assets: Plant assets: Liabilities: General Journal Requirement Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Equity: General Ledger Trial Balance SOLID SYSTEMS Balance Sheet April 30, 2021 ASSETS $ LIABILITIES AND EQUITY $ Income Statement Show less A 2 8 01:46:43 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr inveats $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is duel within 10 days. The company completed services for a client and immediately received $7,600 cash. April 6 April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. General Journal Unadjusted General Ledger Adjusting entry related to: a) Rent b) Insurance c) Office supplies d) Depreciation e) Unbilled fees f) Unpaid wages Trial Balance Income Statement Requirement For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Income Statement 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance St Owners Equity Impact on net income 0 Show less A 2 01:49:38 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. The company completed services for a client and immediately received $7,600 cash. April 6 April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Requirement General Journal General Ledger Trial Balance Income Statement St Owners Equity Balance Sheet General Journal tab - For each transaction, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue earned or the expense incurred. After adjusting the accounts, review the general ledger and trial balance for accuracy. 2 01:48:54 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $7,600 cash. April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Requirement Unadjusted Revenues: Services revenue Total revenues Expenses: Rent expense General Journal Use the drop-downs to select the accounts properly included on the income statement. The unadjusted balances will appear for each account, based on your selection. Wages expense Utilities expense General Ledger Total expenses Net income Insurance expense Office supplies expense Depreciation expense - Office equipment Trial Balance SOLID SYSTEMS Income Statement For Month Ended April 30, 2021 $ Income Statement adjusted 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance 131: Prepaid rent Utilities expense Total expenses Net income 0 0 0 0 0 2,700 0 302: A. Mohr, Withdrawals 403: Services revenue 501: Rent expense 502: Insurance expense 503: Office supplies expense 505: Wages expense Utilities expense Total expenses Net income 502: Insurance expense 503: Office supplies expense 505: Wages expense 510: Depreciation expense - Office equipment 690: Utilities expense Utilities expense Total expenses Net income 2 01:47:16 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr invests $89,000 cash along with office equipment valued at $40,000 in the company April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company nade credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is due within 10 days. April 6 The company completed services for a client and immediately received $7,600 cash. April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. Unadjusted Current assets: Plant assets: Liabilities: General Journal Requirement Use the drop-downs to select the accounts properly included on the balance sheet. The unadjusted or adjusted balances will appear for each account, based on your selection. Include all balance sheet accounts, even those with zero balances. Equity: General Ledger Trial Balance SOLID SYSTEMS Balance Sheet April 30, 2021 ASSETS $ LIABILITIES AND EQUITY $ Income Statement Show less A 2 8 01:46:43 April Mohr opened a web consulting business called Solid Systems and recorded the following transactions in its first month of operations. April 1 Mohr inveats $89,000 cash along with office equipment valued at $40,000 in the company. April 2 The company prepaid $10,800 cash for twelve months' rent for office space. The company's policy is record prepaid expenses in balance sheet accounts. April 3 The company made credit purchases for $8,100 in office equipment and $4,000 in office supplies. Payment is duel within 10 days. The company completed services for a client and immediately received $7,600 cash. April 6 April 9 The company completed a $20,000 project for a client, who must pay within 30 days. April 13 The company paid $12,100 cash to settle the account payable created on April 3. April 19 The company paid $3,120 cash for the premium on a 12-month insurance policy. The company's policy is record prepaid expenses in balance sheet accounts. April 22 The company received $4,500 cash as partial payment for the work completed on April 9. April 25 The company completed work for another client for $6,700 on credit. April 28 Mohr withdrew $5,900 cash from the company for personal use. April 29 The company purchased $3,400 of additional office supplies on credit. April 30 The company paid $2,700 cash for this month's utility bill. Descriptions of items that require adjusting entries on April 30, 2021, follow. a) On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,600. d) Straight-line depreciation of office equipment, based on a 5-year life and a $9,100 salvage value, is $650 per month. e) The company has completed work for a client, but has not yet billed the $2,600 fee. f) Wages due to employees, but not yet paid, as of April 30 total $3,000. General Journal Unadjusted General Ledger Adjusting entry related to: a) Rent b) Insurance c) Office supplies d) Depreciation e) Unbilled fees f) Unpaid wages Trial Balance Income Statement Requirement For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value. Net income before adjustments can be found on the income statement tab. (Hint: Select unadjusted on the drop-down.) Income Statement 101: Cash 106: Accounts receivable 124: Office supplies 128: Prepaid insurance St Owners Equity Impact on net income 0 Show less A