Question: prepare a balance sheet based on followinf transactions Ruby provides office plants for rent under the business name of Leafy Hobart. She opened her business
Ruby provides office plants for rent under the business name of Leafy Hobart. She opened her business 1 March 2022. She contributed a computer system valued at $3,000 and shopfittings of $1000 and deposited $2,000 cash in a business bank account. Transactions during March were: Mar 4 Took a five-year lease on a nursery site and paid the first 6 months of rent - $3000. 4 Purchased office supplies for $260 and paid $100 cash in part payment for these supplies. 6 Cash received for plant rentals - $1350. 6 Invoiced a customer for plant rentals - $200. 7 Purchased gardening tools for $2 000, paying $400 cash with the balance to be paid later. 8 Cash revenue earned for plant rentals - $850. 11 Engaged a part time assistant at an agreed wage of $350 per week. Paid petrol $50, postage $10, and electricity bill $230. 12 13 Cash of $1200 received for plants rentals. 13 Earned $450 for plant rentals on credit. 14 Paid the balance owing for office supplies purchased on 4 March. Ruby withdrew $100 for her own use. 15 16 Office supplies purchased for $250 on credit. 17 Cash revenue received $365. 18 Paid weekly wages to the assistant. 21 Revenue earned for plant rentals: cash $180, on credit $270. Customer paid $650 of the plant rentals owing on credit. 23 Paid weekly wages to the assistant. 28 Revenue earned for plant rentals - $490, receiving $100 in cash and the remainder to be paid later. 29 A customer paid $350 in advance for plant rent. The plants will not be delivered until next month. 31 Office supplies remaining $105. Useful Life 5 years 8 years 5 years 24 Petrol expenses paid $35. 222 25 Item Computer System Shop fittings Tools Residual Value $1,000 $400 $500
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