Ken Jones, an architect, organized Jones Architects on April 1, 2016. During the month, Jones Architects completed the following transactions:
a. Transferred cash from a personal bank account to an account to be used for the busi- ness in exchange for common stock, $18,000.
b. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder.
c. Paid April rent for office and workroom, $3,150.
d. Paid cash for supplies, $1,450.
e. Purchased office and computer equipment on account, $6,500.
f. Paid cash for annual insurance policies on automobile and equipment, $2,400.
g. Received cash from a client for plans delivered, $12,000.
h. Paid cash to creditors on account, $1,800.
i. Paid cash for miscellaneous expenses, $375.
j. Received invoice for blueprint service, due in May, $2,500.
k. Recorded fees earned on plans delivered, payment to be received in May, $15,650.
l. Paid salary of assistant, $2,800.
m. Paid cash for miscellaneous expenses, $200.
n. Paid installment due on note payable, $300.
o. Paid gas, oil, and repairs on automobile for April, $550.

instructions
1. Record these transactions directly in the following T accounts, without journalizing: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Automobiles, Equipment, Notes Payable, Accounts Payable, Common Stock, Professional Fees, Rent Expense, Salary Expense, Blue- print Expense, Automobile Expense, Miscellaneous Expense. To the left of each amount entered in the accounts, place the appropriate letter to identify the transaction.

2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.

3. Prepare an unadjusted trial balance for Jones Architects as of April 30, 2016.

4. Determine the net income or net loss for April.