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In: AccountingMarjorie Knaus, an architect, organized Knaus Architects onJanuary 1, 2018. During the month, Knaus Architects...Marjorie Knaus, an architect, organized Knaus Architects onJanuary 1, 2018. During the month, Knaus Architects completed thefollowing transactions:A.Issued common stock to MarjorieKnaus in exchange for $46,100.B.Paid January rent for office andworkroom, $4,600.C.Purchased used automobile for$30,000, paying $6,900 cash and giving a note payable for theremainder.D.Purchased office and computerequipment on account, $9,200.E.Paid cash for supplies,$2,210.F.Paid cash for annual insurancepolicies, $3,100.G.Received cash from client for plansdelivered, $11,500.H.Paid cash for miscellaneousexpenses, $1,250.I.Paid cash to creditors on account,$2,670.J.Paid installment due on notepayable, $370.K.Received invoice for blueprintservice, due in February, $1,500.L.Recorded fees earned on plansdelivered, payment to be received in August, $8,000.M.Paid salary of assistants,$2,400.N.Paid gas, oil, and repairs onautomobile for July, $600.Required:1.Record these transactionsdirectly in the following T accounts, without journalizing: Cash;Accounts Receivable; Supplies; Prepaid Insurance; Automobiles;Equipment; Notes Payable; Accounts Payable; Common Stock;Professional Fees; Salary Expense; Blueprint Expense; Rent Expense;Automobile Expense; Miscellaneous Expense. To the left of theamount entered in the accounts, select the appropriate letter toidentify the transaction.2.Determine account balances ofthe T accounts. Accounts containing a single entry only (such asPrepaid Insurance) do not need a balance.3.Prepare an unadjusted trialbalance for Knaus Architects as of January 31, 2018.4.Determine the net income or netloss for January.T Accounts1. Record these transactions directly in the following Taccounts, without journalizing: Cash; Accounts Receivable;Supplies; Prepaid Insurance; Automobiles; Equipment; Notes Payable;Accounts Payable; Common Stock; Professional Fees; Salary Expense;Blueprint Expense; Rent Expense; Automobile Expense; MiscellaneousExpense. To the left of the amount entered in the accounts, selectthe appropriate letter to identify the transaction. 2. Determineaccount balances of the T accounts. Accounts containing a singleentry only (such as Prepaid Insurance) do not need a balance.CashA.B.G.C.E.F.H.I.J.M.N.Bal.Accounts ReceivableI.SuppliesPrepaid InsuranceAutomobilesEquipmentNotes PayableBal.Accounts PayableBal.Common StockProfessional FeesBal.Salary ExpenseBlueprint ExpenseRent ExpenseAutomobile ExpenseMiscellaneous ExpenseUnadjusted Trial Balance3. Prepare an unadjusted trial balance for Knaus Architects asof January 31, 2018.Knaus ArchitectsUNADJUSTED TRIAL BALANCEJanuary 31, 2018ACCOUNT TITLEDEBITCREDIT1Cash2Accounts Receivable3Supplies4Prepaid Insurance5Automobiles6Equipment7Notes Payable8Accounts Payable9Common Stock10Professional Fees11Salary Expense12Blueprint Expense13Rent Expense14Automobile Expense15Miscellaneous Expense16TotalsFinal Question4. Determine the net income or net loss for January.Hello. Please fill in the blanks provided in this post. ThankYou!
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