Wolverine Incorporated had the following trial balance at the beginning of April.

The following transactions occur in April:
April 1 Issue common stock in exchange for $15,000 cash.
April 2 Purchase equipment with a long-term note for $4,500 from Hoosier Corporation.
April 4 Purchase supplies for $1,500 on account.
April 10 Provide services to customers on account for $9,000.
April 15 Pay creditors on account, $1,200.
April 20 Pay employees $2,300 for the first half of the month.
April 22 Provide services to customers for $11,500 cash.
April 24 Pay $1,300 on the note from Hoosier Corporation.
April 26 Collect $7,100 on account from customers.
April 28 Pay $1,700 to the local utility company for April gas and electricity.
April 30 Pay $3,200 rent for the April.

Required:
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at April 30.
4. Prepare a trial balance as of April30.

Transcribed Image Text:

Account Title Cash Accounts receivable Supplies Equipment Accounts payable Notes payable Common stock Ketained eamings Debits Credits S 2,800 900 3,600 9,100 S 2,200 3600 9,000 1.600