Exercise "2": Gary Bauer opens a computer consulting business called Technology Consultants and completes the fol- lowing transactions in April. April 1 Bauer invested $100,000 cash along with $24,000 in office equipment in the company. 2 The company prepaid $7,200 cash for twelve months' rent for an office. (Hint: Debit Prepaid Rent for $7,200.) 3 The company made credit purchases of office equipment for $12,000 and office supplies for $2,400. Payment is due within 10 days. 6 The company completed services for a client and immediately received $2,000 cash. 9 The company completed an $8,000 project for a client, who must pay within 30 days. 13 The company paid $14,400 cash to settle the account payable created on April 3. 19 The company paid S6,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $6,000.) 22 The company received $6,400 cash as partial payment for the work completed on April 9. 25 The company completed work for another client for $2,640 on credit. 28 Bauer withdrew $6,200 cash from the company for personal use. 29 The company purchased $800 of additional office supplies on credit. 30 The company paid $700 cash for this month's utility bill. Required 1. Prepare general journal entries to record these transactions (use the account titles listed in part 2). 2. Open the following ledger accounts-their account numbers are in parentheses (use the balance col- umn format): Cash (101); Accounts Receivable (106); Office Supplies (124); Prepaid Insurance (128); Prepaid Rent (131); Office Equipment (163); Accounts Payable (201); G. Bauer, Capital (301); G. Bauer, Withdrawals (302); Services Revenue (403); and Utilities Expense (690). Post the journal entries from part 1 to the ledger accounts and enter the balance after cach posting. 3.Prepare a trial balance.

LOFT The following transactions were completed by the company. a. The company completed consulting work for a client and immediately collected $6,700 cash. b. The company completed commission work for a client and sent a bill for $5,200 to be received within 30 days. c. The company paid an assistant $2,000 cash as wages for the period. d. The company collected $2,600 cash as a partial payment for the amount owed by the client in transaction b. e. The company paid $940 cash for this period's cleaning services. Required: Enter the Impact of each transaction on individual items of the accounting equation. Note: Enter decreases to account balances with a minus sign. Assets Liabilities Transactions Number Cash Accounts Receivable Accounts Payable Equity Owner, Capital Owner, Withdrawals + Revenue Expenses + + a. + b. + . Balance after a and b + = + + C. + => + + Balance after c + => + + + + d. + + Balance after d e. + + + + +

| alphacollege.ddns.net:5056/moodle/ be A Maps gnment#3-Handwritten Group Assignment is due Thursday, 18 March, 6:30 PM Course event 1. May1, Business owner Bill Doors invested $200,000 in cash and office equipment worth $48,000 in the business bank account 2. May1st, prepaid $14,400 cash for three month office rent. 3. May2nd, made credit purchase of office equipment for $24,000 and office supplies for $4800 4. May6, completed services for a client and received $4000 cash. 5. May9, completed a $16,000 project service for a patient, who will pay within 30 days. 6. May10, paid balance owing on May2nd. 7. May19, paid $12,000 cash for the annual liability insurance premium 8. May22, received $12,800 as partial payment for the services done on May9. 9. May25, completed consulting services for another client for $5280 on account. 10. May31, Bill Doors withdrew $12,400 cash for personal use 11. May31, purchased $1600 additional office supplies on account 12. May31, paid $1400 for the monthly…

June, Ming Chen (the owner) completed these transactions. a. Owner invested $63,000 cash in the company along with equipment that had a $11,000 market value in exchange for it common stock. b. The company paid $1,200 cash for rent of office space for the month. c. The company purchased $11,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $2,700 cash earned. e. The company completed work for a client and sent a bill for $7,400 to be received within 30 days. f. The company purchased additional equipment for $5,100 cash. g. The company paid an assistant $3,100 cash as wages for the month. h. The company collected $5,300 cash as a partial payment for the amount owed by the client in transaction e. i. The company paid $11,000 cash to settle the liability created in transaction c. j. The company paid $1,300 cash in dividends to the owner (sole shareholder). Required: Enter the impact of each…