Nancy Williams started her Bookkeeping Service, which is NOT registered for the GST. The following transactions related t her first month of operations. For each transaction, analyse which accounts would be affected, which type of account they are and whether the account would increase or decrease as a result of the transaction. After analysis, you also need to fulfil the requirements. On April 1, Nancy invested/deposited $22,000 in a bank account under her business name NW Solutions. On April 6, NW Solutions paid $5,000 for the purchase of equipment. On April 11, NW Solutions purchased supplies for $960 paid $170 cash and the remaining on account. On April 19, NW Solutions received cash of $6,150 from clients for services provided. On April 30, NW Solutions incurred and paid the following expenses: rent of $1,000; and wages and salaries of $900. On April 30, NW Solutions paid creditors/suppliers on account, $190. It has been determined that the cost of supplies on hand on April 30 was $260. Required: a. Record the above transactions in the general journal. b. Post all entries to the general ledger. c. Prepare the Trial Balance (Unadjusted) at the end of April.
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