Response to the following problem:
The following balances appeared on the transactions worksheet of Hill Chairs Inc. on April 1, 2015.
The following transactions occurred during April:
a. Collected $2,000 cash in satisfaction of an amount owed by a customer
b. Billed $3,000 to customers for chairs rented to date
c. Paid the following expenses: advertizing, $300; salaries, $2,000; telephone, $100
d. Paid half of the accounts payable
e. Received a $500 bill for April truck operating expenses
f. Collected $2,500 in satisfaction of an amount owed by a customer
g. Billed $1,500 to customers for chairs rented to date
h. Transferred $500 of prepaid expenses to rent expense
i. Counted $200 of supplies still on hand (recorded the amount used as an expense)
j. Issued additional share capital and received $1,000 cash
k. Paid $200 dividend in cash.
Required: Record the opening balances and the above transactions on a transactions worksheet and calculate the total of each column at the end of April. (Use the headings above on your worksheet.)