Flower Landscaping Corporation-Journal to Balance
sheet
During its first month of operation, the Flower Landscaping Corporation,
which specializes in residential landscaping, completed the following
transactions.
March 1 Began business by
making a deposit in a company bank account of $72,000, in exchange for 7,200
shares of $10 par value common stock.
March 1 Paid the current month's
rent, $4,500.
March 1 Paid the premium on a 1-year insurance policy, $3,300.
March 7 Purchased supplies on account from Parkview Company, $900.
March 10 Paid employee salaries, $2,200.
March 14 Purchased equipment from Hammond Company, $9,000. Paid $1,500
down and the balance was placed on account. Payments will be $375.00 per month
for 20 months. The first payment is due 4/1.
Note: Use accounts payable for the balance due.
March 15 Received cash for landscaping revenue for the first half of
March, $4,896.
March 19 Made payment on account to Parkview Company, $450.
March 31 Received cash for landscaping revenue for the last half of
March, $5,304.
March 31 Declared and paid cash dividend of $1,000.
Requirement 1—Prepare the Journal Entries in the General Journal
Requirement 2—Post Journal Entries to the General Ledger
Requirement 3—Prepare a Trial Balance
Requirement 4—Prepare the Adjusting Entries
Requirement 5—Post Adjusting Entries to the General Ledger
Requirement 6—Prepare an Adjusted Trial Balance
Requirement 7—Prepare the Financial Statements
Requirement 8—Prepare the Closing Entries
Requirement 9—Post Closing Entries to the General Ledger
Requirement 10—Prepare the
Post Closing Trial Balance
TUTORIAL PREVIEW
Post the March journal entries to the following
T-accounts and compute ending balances.
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Cash (111)
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Landscaping Revenue (411)
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|||
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72000
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4500
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10200
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4896
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4896
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3300
|
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5304
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5304
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2200
|
|
|
|
|
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1500
|
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||
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450
|
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|
1000
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File name: Flower Landscaping.xls File
type: doc PRICE: $45
