April transactions and events for Technology Business Solutions

1. Prepare journal entries to record each of the April transactions and events for Technology Business Solutions. Post these entries to the t-accounts.
2. Prepare adjusting entries to reflect a through g. Post these entries to the t-accounts.
3. Prepare an adjusted trial balance as of April 30, 2020.
4. Prepare an income statement for the month ended April 30, 2020.
5. Prepare a statement of retained earnings for the month ended April 30, 2020.
6. Prepare a balance sheet as of April 30, 2020.
7. What would the total Cost of Goods Sold be if you were using the FIFO Costing Method.

Sample Solution