At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company completed client services for $10,200 on credit. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within 30 days. The company collected $5,100 cash in partial payment from the client described in transaction dated 9th. The company paid $1,800 cash for wages to an assistant. The company paid $950 cash to settle the payable created in transaction dated 8th. The company paid $608 cash for minor maintenance of the company’s computer equipment. Haroon Kadir withdrew $6,230 cash from the company for personal use. The company paid $1,800 cash for wages to an assistant. The company paid $750 cash for advertisements on the web during April. Required Open the following ledger accounts—their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Computer Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); H. Kadir Capital (301); H. Kadir Withdrawals (302); Fees Earned (402); Wages Expense (601); Computer Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Post the journal entries from part 1 to the accounts and enter the balance after each posting.

At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April.

April

1. Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company.
2. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000.
3. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2^nd.
4. The company paid $5,000 cash for the premium on a two-year insurance policy.
5. The company provided services to a client and immediately collected $4,600 cash.
6. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700.
7. The company completed $4,250 of services for a client. This amount is to be received within 30 days.
8. The company purchased $950 of additional office equipment on credit.
9. The company completed client services for $10,200 on credit.
10. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within 30 days.
11. The company collected $5,100 cash in partial payment from the client described in transaction dated 9^th.
12. The company paid $1,800 cash for wages to an assistant.
13. The company paid $950 cash to settle the payable created in transaction dated 8^th.
14. The company paid $608 cash for minor maintenance of the company’s computer equipment.
15. Haroon Kadir withdrew $6,230 cash from the company for personal use.
16. The company paid $1,800 cash for wages to an assistant.
17. The company paid $750 cash for advertisements on the web during April.

Required

1. Open the following ledger accounts—their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office Equipment (163); Computer Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); H. Kadir Capital (301); H. Kadir Withdrawals (302); Fees Earned (402); Wages Expense (601); Computer Rental Expense (602); Advertising Expense (603); and Repairs Expense (604). Post the journal entries from part 1 to the accounts and enter the balance after each posting.