Prepare journal entries to record the the April transactions in the General Journal below. Remember that Debits
Question:
Prepare journal entries to record the the April transactions in the General Journal below. Remember that Debits must equal Credits—All of your Journal Entries should balance.
April Transactions
April 1 - Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock.
April 1 - Purchased insurance for the year and paid $3,600 cash.
April 1 - Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment.
April 3 - Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account.
April 5 - Purchased landscaping supplies of $750 on account.
April 5 - Paid $500 cash for advertising in local newspapers.
April 10 - Received $12,500 in cash for landscaping services provided.
April 12 - Paid $2,000 on account for landscaping equipment previously purchased on April 3rd.
April 15 - Provided landscaping services on account for $1,200.
April 20 - Received $10,500 in cash for landscaping services provided.
April 28 - Received $600 cash on account for landscaping services performed on April 15th.
April 30 - Received $4,000 cash for landscaping services provided.
April 30 - Paid a utility bill of $700 cash.
April 30 - Paid dividends of $3,000 cash
April 30 - The inventory of landscaping supplies showed a balance of $300 on hand at the end of the month.
Expert Answer:
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
