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| Instructions: Use the following transactions listed below to prepare the following: |
| | a) Prepare journal entries for each of the following transactions |
| | b) Post to general ledger |
| | c) Prepare preliminary (initial) trial balance |
| | d) Prepare any adjusting journal entries |
| | e) Prepared adjusted trial balance |
| | f) Prepare an income statement, statement of retained earnings and balance sheet in good form |
| | g) Prepare closing entries |
| | h) Prepare post-closing trial balance |
| Transactions for SoHo Company for the month of April 2012 |
| 1 | April 1st - Investment by owners $200,000 |
| 2 | April 2nd - Company purchased supplies on account for $10,000 |
| 3 | April 5th - Purchased equipment for cash $30,000 |
| 4 | April 6th - Provided servics for cash $20,000 |
| 5 | April 10th - Paid $5,000 for salaries and wages |
| 6 | April 11th - Purchased office equipment for $8,000 and financed the purchase signing a 5% note. |
| 7 | April 15th - Purchased land for cash to be used in the business for $25,000 |
| 8 | April 16th - Purchased a delivery van for $18,000 cash |
| 9 | April 18th - Provided services on account $100,000 |
| 10 | April 20th - Paid for 12 -month insurance policy in advance $3,600 |
| 11 | April 20th - To record monies received in advance for services to be rendered $15,000 |
| 12 | April 21st - Purchased a building for $250,000 to be used in the business signing a 30 year fixed-rate mortgage |
| 13 | April 30th - Recorded interest payable of $4,000 (adjusting entry) |
| 14 | April 30th - Recorded adjusting entry for $4,000 depreciation on building (adjusting entry) |
| 15 | April 30th - Recorded the expiration of one-month's insurance that was prepaid in transaction 1 above |
bondsp
cycle_assignment.xls
