Question: Please use the financial statement effects template below to answer the question. Thanks! Question #1: Use FSET to record adjusting entries on April 30th Terry

 Please use the financial statement effects template below to answer the

Please use the financial statement effects template below to answer the question. Thanks!

question. Thanks! Question #1: Use FSET to record adjusting entries on April

Question #1: Use FSET to record adjusting entries on April 30th Terry Thomas and a group of investors incorporate the Green Thumb Lawn Care Corporation on April 1. At April 30, the trial balance shows the following balances for selected accounts. Prepaid Insurance $ 3,600 Equipment 28,000 Notes Payable 20,000 Unearned Service Revenue 4,200 Service Revenue 1,800 Analysis reveals the following additional data pertaining to these accounts. 1. Prepaid insurance is the cost of a 2-year insurance policy, effective April 1. 2. Depreciation on the equipment is $500 per month. 3. The note payable is dated April 1. It is a 6-month, 6% note. 4. Seven customers paid for the company's 6-month lawn service package of $600 per customer beginning in April. These customers received the first month of services in April. 5. Lawn services performed for other customers but not billed at April 30 totaled $1,500. BALANCE SHEET INCOME STATEMENT Transaction Liabilities Revenues Cash Assets Net Income Non cash Assets Expenses Contrib . . Earned

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