Question: Using the textbook problem solve the questions. Thank you For the past several years, Jeff Horton has operated a part-time consulting business from his home.

Using the textbook problem solve the questions. Thank you
Using the textbook problem solve the questions. Thank you For the past
several years, Jeff Horton has operated a part-time consulting business from his
home. As o. April 1, 20Y6, Jeff decided to move to rented
quarters and to operate the business, which was to be known as
Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions
during April: Apr. 1. The following assets were received from Jeff Horton
in exchange for common stock: cash, $20,000; accounts receivable, $14,700; supplies, $3,300;

For the past several years, Jeff Horton has operated a part-time consulting business from his home. As o. April 1, 20Y6, Jeff decided to move to rented quarters and to operate the business, which was to be known as Rosebud Consulting, on a full-time basis. Rosebud entered into the following transactions during April: Apr. 1. The following assets were received from Jeff Horton in exchange for common stock: cash, $20,000; accounts receivable, $14,700; supplies, $3,300; and office equipment, $12,000. There were no liabilities received. 1. Paid three months' rent on a lease rental contract, $6,000. 2. Paid the premiums on property and casualty insurance policies, $4,200. 4. Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $9,400. 5. Purchased additional office equipment on account from Smith Office Supply C0,$8,000. 6. Recelved cash from clients on account, $11,700. 10. Paid cash for a newspaper advertisement, $350. 12. Paid Smith Office Supply Co. for part of the debt incurred on Aprii 5, $6,400. 12. Recorded services provided on account for the period April 1-12, $21,900. 14. Paid receptionist for two weeks' salary, $1,650. Record the following transactions on Page 2 of the journal: 17. Recorded cash from cash clients for fees earned during the period April 1-16, $6,600. 18. Paid cash for supplies, $725. 20. Recorded services provided on account for the period April 13-20, $16,800. 24. Recorded cash from cash clients for fees earned for the period April 17-24, $4,450. 26. Received cash from clients on account, $26,500. 27. Paid receptionist for two weeks' salary, $1,650. 29. Paid telephone bill for April, $540. 30. Paid electricity bill for April, $760. 30. Recorded cash from cash clients for fees earned for the period April 25-30, $5,160. 30. Recorded services provided on account for the remainder of April, $2,590. 30. Paid dividends, $18,000. Question 2 ( 3.3 points) Name the account credited in the inurnal entry for the April 6 transaction Question 3 ( 3.3 points) Name the account credited in the inurnal entry for the April 17 transaction Question 4 ( 3.3 points) Name the account debited in the inurnal entry for the April 20 transaction Question 5 ( 3.3 points) Name the account credited in the inurnal entry for the April 20 transaction Question 6(3.3 points) In the adjusting entries at month end, there was a debit to Supplies Expense in the amount of $ In the adjusting entries at month end. there was a credit to Salaries Payable in the amount of $ Question 8 ( 4.3 points) In the adjusting entry at month end based on adjustment data (f) related to unearned fees, the name of the account credited is and the amount of that credit is $ Question 9 (3.3 points) On the month end Income Statement the total revenue reported is $ Question 10 (3.3 points) On the month end Income Statement. the total operating expenses reported equal \$ Question 11 (3.3 points) On the month end Income Statement. the net income is reported in the amount of $ Question 12 (3.3 points) Net income is reported on the income statement. It is also reported on another financial statement. Name that statement. Question 13 (3.3 points) The Dividends for the month are reported in the financial statements. On which statement are dividends reported? Question 14 (3.3 points) What is the reported amount of Total Current Assets on the April 30 Balance Sheet? $ Question 15 (3.3 points) On the balance sheet at April 30. the rennrted book value of the Office Equipment is $ Question 16 (3.3 points) On the April 30 balance sheet. Total Acsets are reported at $ Question 17 (3.3 points) On the April 30 balance sheet. Total Current Liabilities are reported at $ Question 18 (3.3 points) On the April 30 balance sheet. Retained Earnings is reported at $ The April 30 ending balance of Retained Earnings is reported on the balance sheet and on another of the maior financial statements. Identify which one. Question 20 (3.3 points) On the April 30 balance sheet. the Total Liahilities \& Stockholders Equity is reported at \$ Question 21 (3.3 points) The Accumulated Depreciation account is a temporary account that is closed in the month end closing entries. True False Question 22 (3.3 points) The Accounts Payable account is a temporary account that is closed in the month end closing entries. True False Question 23 (3.3 points) The Dividends account is a temporary account that is closed in the month end closing entries. True False Salary Expense is a temporary account that is closed in the month end closing entries. True False Question 25 (3.3 points) Retained Earnings is a temporary account that is closed in the month end closing entries. True False Question 26 (3.3 points) Fees Earned is a temporary account that is closed in the month end closing entries. True False Question 27 (3.3 points) Supplies Expense is a temporary account that is closed in the month end closing entries. True False Supplies Expense is a temporary account that is closed in the month end closing entries. True False Question 28 (3.3 points) After an account has been closed in the month end closing entries, its balance will be $ Question 29 (3.3 points) On the April 30 post closine trial halanre, the Cash account has a debit balance of $ Question 30 (3.3 points) On the April 30 post closing trial balance, the Retained Earnines arcount has a credit balance in the amount of $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!