Accounting Assignment

The General's Favorite Fishing Holes Charts of Accounts Assets 101 Cash 142 Office supplies 144 food supplies 145 preparid insurance 181 fishing boats 181.2 accum. depr. fishing boats Liabilities 202 accounts payable 219 wages payable owner's equity 311 bob night, capital 312 bob night, drawing 313 income summary revenues 401 registration fees expenses 511 wages expense 521 rent expense 523 office supplies expense 524 food supplies expense 525 telephone expense 533 utilities expense 535 insurance expense 536 postage expense 542 depr. exp. fishing boats The following transactions took place during April 20---- Apr 1 night invested cash in business, 90,000 Apr 1 paid insurance premium for camping season, 9,000 Apr 2 paid rent for lodge and campgrounds forthemonth of apr 40,000 Apr 2 deposited registration fees, 35,000 Apr 2 purchased ten fishing boats on account for 60,000. The boats have estimated useful lives of five years, at which time they will be donated to a local day camp. arrangement were made to pay for the boats in July. Apr 3 purhcased food supplies from acme super market on acount, 7,000 Apr 5 purchase office supplies from gordon office supplies on account, 500 Apr 7 deposited registration fees, 38,600 Apr 10 purchase food supplies from acme super market on account, 8,200 Apr 10 paid wages to fishing guides, 10,000 Apr 14 deposited registration fees, 30,050 Apr 16 purchased food supplies from acme super market on account, 9,000 Apr 17 paid wages to fishing guides, 10,000 Apr 18 paid postage 150 Apr 21 deposited registration fees, 35,600 Apr 24 purchased food supplies from acme super market on acct, 8,500 Apr 24 paid wages to fishing gudies, 10,000 Apr 28 deposited registration fees, 32,000 Apr 9 paid wages to fishing guides, 10,000 Apr 30 purchased food supplies from a acme super market on account, 6,000 Apr 30 paid acme super market on account, 32,700 Apr 30 paid utilities bill, 2,000 Apr 30 paid telephone bill, 1,200 Apr 30 Bob night withdrew cash for personal use, 6,000 Adjustment information for the end of April is provided below a. office supplies remaining on hand, 100 b. food supplies remaining on hand, 8,000 c. insurance expired during the month of April, 1,500 d. depreciation on the fishing boats for the month of April, 1,000 e. wages earned, but not ye paid, at the end of april, 500. Required: 1. enter above transactions in a general journal. enter transactions from April 1-5 on page 1, April 7-18 on page 2, April 21-29 and the first two entries for April 30 on page 3, and the remaining entires for April 30 on page 4. 2. post the entries to the general ledger. (if you are not using the working papers that accompany this text, you will need to enter the account titles and account number in the general ledger accounts. 3. prepare a trial balance on a work sheet 4. complete the work sheet. 5. prepare the income statement. 6. prepare the statement of owner's equity. 7. prepare the balance sheet. 8. journalize the adjusting entries (page5) 9. post the adjusting entries to the general ledger. 10. journalize the closing entries (pages 5 and 6). 11. post the closing entries to the general ledger. 12. prepare a cost closing trail balance.