PROBLEM 4_36A solution - LarryHarris&SamuelAmadi Auditing...

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Larry Harris & Samuel Amadi Auditing Professor Osaghae PROBLEM 4-36A a. Turner Rentals Shop General Journal, April 2007 Date Account Titles Debit Credit Apr. 1 Cash $40,000 Common Stock $20,000 Notes Payable $20,000 Apr. 1 Prepaid Rent $3,600 Cash $3,600 Apr. 1 Rental Tools $30,000 Cash $30,000 Apr. 6 Supplies $220 Cash $220 Apr. 9 Cash $500 Unearned Revenue $500 Apr. 10 Cash $850 Accounts Receivable $1,200 Rental Revenue $2,050 Apr. 15 Salaries Expense $960 Cash $960 Apr. 16 Cash $450 Accounts Receivable $450 Apr. 23 Utilities Expense $233 Accounts Payable $233
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Apr. 25 Advertising Expense $240 Cash $240 Apr. 30 Cash $1,150 Accounts Receivable $1,600 Rental Revenue $2,750 Apr. 30 Salaries Expense $960 Cash $960
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PROBLEM 4-36A (cont.) b. and d. Turner Rentals Shop T-Accounts, April 2007 Cash Accounts Payable Common Stock 4/1 $40,000  4/1 $3,600  4/23 $233 4/1 $20,000 4/9 $500  4/1 $30,000  Bal. $233  Bal. $20,000 4/10 $850  4/6 $220 4/16 $450  4/15 $960 Unearned Revenue Retained Earnings 4/30 $1,150  4/25 $240  4/9 $500  Bal. -0-  4/30 $960  Bal. $500 Bal. $6970 Rental Revenue Interest Payable  4/10 $2,050 Accounts Receivable  4/30 $150  4/30 $2,750 4/10 $1,200 4/16 $450  Bal. $150  Bal. $4,800 4/30 $1,600 Bal. $2,350 Notes Payable Salaries Expense 4/1 $20,000 4/15 $960 Supplies  Bal. $20,000 4/30 $960 4/6 $220 Bal. $1,920 Bal. $220  4/30 $140 Utilities Expense Bal. $80 4/23 $233 Bal. $233 Prepaid Rent 4/1 $3,600 Advertising Expense Bal. $3,600 4/25 $240  4/30 $300 Bal. $240 Bal. $3,300 Depreciation Expense Rental Tools 4/30 $450 4/1 $30,000 Bal. $450 Bal. $30,000 Rent Expense Accumulated Depr. 4/30 $300  4/30 $450 Bal. $300
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 Bal. $450 Supplies Expense 4/30 $140 Bal. $140
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PROBLEM 4-36A b. and d. (cont.)   T-Accounts, April 2007 (cont) Assets =
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