Journalizing and Posting Transactions and Adjustments
D. Roulstone opened Roulstone Roofing Service on April 1.Transactions for April follow.

Apr.  1	Roulstone contributed $23,000 cash to the business in exchangefor common stock.
2	Paid $12,200 cash for the purchase of a used truck.
2	Purchased $6,200 of ladders and other equipment; the companypaid $1,000 cash, with the balance due in 30 days.
3	Paid $5,760 cash for two-year (or 24-month) premium towardliability insurance.
5	Purchased $2,400 of supplies on credit.
5	Received an advance of $3,600 cash from a customer for roofrepairs to be done during April and May.
12	Billed customers $11,000 for roofing services performed.
18	Collected $9,800 cash from customers toward their accountsbilled on April 12.
29	Paid $1,350 cash for truck fuel used in April.
30	Paid $200 cash for April newspaper advertising.
30	Paid $5,000 cash for assistants' wages earned.
30	Billed customers $8,000 for roofing services performed.

Using the following accounts: Cash; Accounts Receivable;Supplies; Prepaid Insurance; Trucks; AccumulatedDepreciation-Trucks; Equipment; Accumulated Depreciation-Equipment;Accounts Payable; Unearned Roofing Fees; Common Stock; Roofing FeesEarned; Fuel Expense; Advertising Expense; Wages Expense; InsuranceExpense; Supplies Expense; Depreciation Expense-Trucks; andDepreciation Expense-Equipment.

b. Record these transactions for April using journal entries.

General Journal
Date	Description	Debit	Credit
Apr. 1	AnswerAccounts ReceivableAccounts PayableCommon StockCash	Answer	Answer
	AnswerAccounts ReceivableAccounts PayableCommon StockCash	Answer	Answer
	Owner invested cash.
Apr. 2	AnswerCashAccounts ReceivableTruckAccounts Payable	Answer	Answer
	AnswerCashAccounts ReceivableTruckAccounts Payable	Answer	Answer
	Purchased truck.
Apr. 2	AnswerSuppliesAccounts ReceivableAccounts PayableEquipment	Answer	Answer
	Cash	Answer	Answer
	AnswerSuppliesAccounts ReceivableAccounts PayableEquipment	Answer	Answer
	Purchased equipment.
Apr. 3	AnswerAccounts PayableAccounts ReceivablePrepaidInsuranceCash	Answer	Answer
	AnswerAccounts PayableAccounts ReceivablePrepaidInsuranceCash	Answer	Answer
	Purchased liability insurance.
Apr. 5	AnswerAccounts PayableSuppliesEquipmentAccounts Receivable	Answer	Answer
	AnswerAccounts PayableSuppliesEquipmentAccounts Receivable	Answer	Answer
	Purchased supplies.
Apr. 5	AnswerUnearned Roofing FeesAccounts ReceivableCashAccountsPayable	Answer	Answer
	AnswerUnearned Roofing FeesAccounts ReceivableCashAccountsPayable	Answer	Answer
	Received advanced payment for repair work.
Apr. 12	AnswerEquipmentAccounts ReceivableAccounts PayableRoofing FeesEarned	Answer	Answer
	AnswerEquipmentAccounts ReceivableAccounts PayableRoofing FeesEarned	Answer	Answer
	Billed for services performed.
Apr. 18	AnswerSuppliesCashAccounts PayableAccounts Receivable	Answer	Answer
	AnswerSuppliesCashAccounts PayableAccounts Receivable	Answer	Answer
	Collected from customers billed on April 12.
Apr. 29	AnswerFuel ExpenseCashAccounts ReceivableAccounts Payable	Answer	Answer
	AnswerFuel ExpenseCashAccounts ReceivableAccounts Payable	Answer	Answer
	Paid for April fuel expense.
Apr. 30	AnswerAdvertising ExpenseAccounts PayableCashEquipment	Answer	Answer
	AnswerAdvertising ExpenseAccounts PayableCashEquipment	Answer	Answer
	Paid for April newspaper advertising.
Apr. 30	AnswerCashSuppliesAccounts PayableWages Expense	Answer	Answer
	AnswerCashSuppliesAccounts PayableWages Expense	Answer	Answer
	Paid wages.
Apr. 30	AnswerEquipmentAccounts ReceivableAccounts PayableRoofing FeesEarned	Answer	Answer
	AnswerEquipmentAccounts ReceivableAccounts PayableRoofing FeesEarned	Answer	Answer
	Recorded fees earned.

c. Post the above entries to their T-accounts.

Enter transactions in the T-accounts in the order they appearusing the first available answer box on the appropriate side of theT-account.

Cash
	Answer	Answer
	Answer	Answer
	Answer	Answer
	Answer	Answer
	Answer	Answer
	Answer	Answer

Accounts Receivable
	Answer	Answer
	Answer	Answer

Supplies
	Answer	Answer

Prepaid Insurance
	Answer	Answer

Trucks
	Answer	Answer

Equipment
	Answer	Answer

Accumulated Depreciation- Equipment
	Answer	Answer

Accumulated Depreciation- Trucks
	Answer	Answer

Accounts Payable
	Answer	Answer
	Answer	Answer

Unearned RoofingFees
	Answer	Answer

Common Stock
	Answer	Answer

Roofing Fees Earned
	Answer	Answer
	Answer	Answer
	Answer	Answer

Depreciation Expense -Trucks
	Answer	Answer

Fuel Expense
	Answer	Answer

Advertising Expense
	Answer	Answer

Depreciation Expense -Equipment
	Answer	Answer

Wages Expense
	Answer	Answer

Supplies Expense
	Answer	Answer

Insurance Expense
	Answer	Answer

d. Prepare journal entries to adjust the following accounts;and,

e. Post the adjusting entries to the above T-accounts.

Record insurance expense for April.

Supplies still available on April 30 was $400.

Record depreciation expense for truck for April of $250.

Record depreciation expense for equipment for April of $70.

One-fourth of roofing fee received April 5, was earned by April30.

General Journal
Date	Description	Debit	Credit
Apr. 30	AnswerCashInsurance ExpensePrepaid InsuranceAccountsPayable	Answer	Answer
	AnswerCashInsurance ExpensePrepaid InsuranceAccountsPayable	Answer	Answer
	To record insurance expense.
Apr. 30	AnswerSuppliesSupplies ExpenseAccounts PayableCash	Answer	Answer
	AnswerSuppliesSupplies ExpenseAccounts PayableCash	Answer	Answer
	To record supplies expense.
Apr. 30	AnswerAccumulated Depreciation-TrucksCashAccountsPayableDepreciation Expense-Trucks	Answer	Answer
	AnswerAccumulated Depreciation-TrucksCashAccountsPayableDepreciation Expense-Trucks	Answer	Answer
	To record truck depreciation expense.
Apr. 30	AnswerAccumulated Depreciation-EquipmentDepreciationExpense-EquipmentAccounts PayableCash	Answer	Answer
	AnswerAccumulated Depreciation-EquipmentDepreciationExpense-EquipmentAccounts PayableCash	Answer	Answer
	To record equipment depreciation expense.
Apr. 30	AnswerAccounts PayableRoofing Fees EarnedCashUnearned RoofingFees	Answer	Answer
	AnswerAccounts PayableRoofing Fees EarnedCashUnearned RoofingFees	Answer	Answer
	To record fees earned.