The chart of accounts for Kims Tree Trimming Service is as follows: Kims Tree Trimming Service completed
Question:
The chart of accounts for Kim’s Tree Trimming Service is as follows:
Kim’s Tree Trimming Service completed the following transactions during the month of October:
A. Sam Kim invested $30,000 in the tree trimming service from his personal savings account.
B. Bought used trucks on account, $5,000.
C. Bought office equipment for cash, $1,200.
D. Paid advertising expense, $250.
E. Collected cash for tree trimming services rendered, $2,600.
F. Paid laborers’ salaries, $650.
G. Paid gas expense for trucks, $1,600.
H. Performed tree trimming services for a customer on account, $1,500.
I. Telephone expense due but unpaid, $700.
J. Received $100 as partial payment of Transaction H.
K. Sam withdrew cash for personal use, $700.
Step by Step Answer:
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps