Complete the assessment

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Answered Same DaySep 26, 2021

Answer To: Complete the assessment

Ashish answered on Sep 27 2021
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        Before you begin, print out all the pages in this workbook.
        The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporati
on at April 1, 2019.
        April 1 balances:            Debit    Credit
        Cash            5,000
        Accounts receivable            5,000
        Prepaid rent            200
        Unused supplies            500
        Accounts payable                4,000
        Common stock                6,700
        Required:
        1    Prepare journal entries to record the April transactions shown on the "Transactions" page (see tab below). Include general ledger account numbers.
        2    Post the transactions to the T- accounts.
        3    Prepare a trial balance at April 30, 2019.
        4    Prepare an interim income statement and statement of changes in equity for the month ended April 30, 2019 and interim balance sheet at April 30, 2019.
Transactions
    
    April        Transaction                                Amount
    a.        Collected cash owed by a customer                                $1,000
    b.        Billed customers for tables rented to date                                1,000
    c.        Paid the following expenses:
            Advertising                                100
            Salaries                                1,000
            Telephone                                500
    d.        Paid part of the accounts payable owing at April 1                                800
    e.        Received a bill for April truck repair expenses                                500
    f.        Collected cash owed by a customer                                2,900
    g.        Billed customers for tables rented to date                                2,000
    h.        Transferred prepaid rent to rent expense                                60
    i.        Counted supplies and found this amount still on hand (recorded the amount used as an expense)                                300
    j.        Paid a dividend                                700
T-accounts
    Fenton Table Rentals Corporation
    Cash        No. 101            Acct. Pay.        No. 210            Common Stock        No. 320            Service Rev.        No. 470
    Apr. 1    1,000    c.    4,400        d.    1,600    Apr. 1    4,000                Apr....
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