Prepare a trial balance as of the end of November, Income statement and a statement of retained earnings for the period ending November 30, Balance
Prepare a trial balance as of the end of November, Income statement and a statement of retained earnings for the period ending November 30, Balance sheet dated November 30,2007
Cash | 101 | Common stock | 307 |
Accounts receivable | 106 | Dividends | 309 |
Horse supplies | 126 | Horse services revenue | 403 |
Prepaid insurance | 128 | Wages expense | 623 |
Prepaid rent | 131 | Advertising expense | 655 |
Office equipment | 163 | Mileage expense | 676 |
Horse equipment | 117 | Miscellaneous expenses | 677 |
Accounts payable | 201 | Repairs expense horse equip. | 684 |
10/1)Invested $75,000 cash, $25,000 care system, $10,000 office equipment in the business in exchange for it's common stock 10/2)Paid $3,500 cash for four months rent 10/3)Purchased $1,600 of horse supplies on credit 10/5)Paid $2,400 cash for one years premium on property and liability insurance 10/6)Billed Easy Farms $6,200 for horse services performed 10/8)Paid $1,600 cash for horse supplies purchased on Oct. 3 1010)Hired Ms. Jones as part time assistant for $150 per day, as needed 10/12)Billed Easy Farms another $1,950 for horse services performed 10/15)Received $6,200 cash from Easy Farms on it's account 10/17)Paid $900 cash to repair horse services equipment that was damaged 10/20)Paid $1,790 cash for advertisement to local paper 10/22)Received $1,950 cash from Easy Farms on it's account 10/28)Billed Clark Company $7,300 for services performed 10/31)Paid $1,500 cash for Ms. Jones wages for seven days work 10/31)Paid $4,000 cash for dividends 11/01)Reimbursed in cash for business auto milege allowance (1,200 miles at $.032 per mile) 11/2)Received $3,600 cash from Living on Edge for horse services performed 11/5)Purchased horse supplies for $1,750 cash 11/8)Billed Gomez co. $6,500 for servcies performed 11/13)Received notice that flying farm bid of $7,000 for paddocks upcoming project accepted 11/18)Recieved $5,000 cash from clark company as partial payment of Oct. 28th bill 11/22)Donated $300 cash to marion united way in company's name 11/24)Completed work for paddocks and sent it a bill for $7,000 11/25)Sent another bill to clark company for past due amount of $2,300 11/28)Reimbursed zoopher in cash for business milege (1,500 miles at $.032 per mile) 11/30)Paid $2,100 cash for Ms. Jones wages for 14 days work 11/30)Paid $2,500 cash for dividends
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