Dale's Lawn Service had following balances at the beginning of the accounting period ($): PPE 150 Bank a/c 300 Accounts receivable 100 Accounts payable 200 Loan 300 Owner's equity 50 During the period Dale's Lawn Service completed the following transactions: a. Paid for supplies purchased on credit last month $30. b. Received cash from customers billed last month $40. c. Made a payment on accounts payable $50. d. Purchased supplies on credit $60. e. Billed a client for lawn services $70. f. Made a rent payment for the current month $80. g. Received cash from customers for lawn services $90. h. Paid employee wages $100. į. Ordered equipment $110. j. Received and paid for the equipment ordered in į. Required: Record the transactions. Prepare a trial balance before adjustments.
Dale's Lawn Service had following balances at the beginning of the accounting period ($): PPE 150 Bank a/c 300 Accounts receivable 100 Accounts payable 200 Loan 300 Owner's equity 50 During the period Dale's Lawn Service completed the following transactions: a. Paid for supplies purchased on credit last month $30. b. Received cash from customers billed last month $40. c. Made a payment on accounts payable $50. d. Purchased supplies on credit $60. e. Billed a client for lawn services $70. f. Made a rent payment for the current month $80. g. Received cash from customers for lawn services $90. h. Paid employee wages $100. į. Ordered equipment $110. j. Received and paid for the equipment ordered in į. Required: Record the transactions. Prepare a trial balance before adjustments.
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section: Chapter Questions
Problem 2AP
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