Journalizing and Posting Transactions and Adjustments D. Roulstone o.docx

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Journalizing and Posting Transactions and Adjustments D.Roulstone opened Roulstone Roofing Service on April 1.Transactions for April follow. Journalizing and PostingTransactions and Adjustments D. Roulstone opened RoulstoneRoofing Service on April 1. Transactions for April follow.Roulstone contributed $69,000 cash to the business inexchange for common stock. Apr.1 Paid $36,600 cash for thepurchase of a used truck. 2 Purchased $18,600 of ladders andother equipment: the company paid $1,000 cash, with thebalance due in 30 days. 2 Paid $17,280 cash for two-year (or24-month) premium toward liability insurance. 3 Purchased$7,200 of supplies on credit. Received an advance of $10,800cash from a customer for roof repairs to be done during Apriland May. Billed customers $33,000 for roofing servicesperformed. 12 Collected $29,400 cash from customers towardtheir accounts billed on April 12. 18 Paid $4,050 cash fortruck fuel used in April. Paid $600 cash for April newspaperadvertising. 29 3 Paid $15,000 cash for assistants' wages

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Term
Fall
Professor
NoProfessor
Tags
Depreciation, Generally Accepted Accounting Principles, Accounting software, D Roulstone

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