Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Based on this information, can anyone assist in formatting the adjusted trial balance in the format provided below. Here is the information and format: During its first month of operation, the Flower Landscaping Corporation, which specializes in residential landscaping, completed the following transactions. March 1 Began business by making a deposit in a company bank account of $72,000, in exchange for 7,200 shares of $10 par value common stock. March 1 Paid the current month's rent, $4,500. March 1 Paid the premium on a 1-year insurance policy, $3,300. March 7 Purchased supplies on account from Parkview Company, $900. March 10 Paid employee salaries, $2,200. March 14 Purchased equipment from Hammond Company, $9,000. Paid $1,500 down and the balance was placed on account. Payments will be $375.00 per month for 20 months. The first payment is due 4/1.

Note: Use accounts payable for the balance due. March 15 Received cash for landscaping revenue for the first half of March, $4,896. March 19 Made payment on account to Parkview Company, $450. March 31 Received cash for landscaping revenue for the last half of March, $5,304. March 31 Declared and paid cash dividend of $1,000. Prepare an adjusted trial balance and post closing entries in proper format in the space below. Flower Landscaping Corporation Adjusted Trial Balance March 31 Prepare the closing entries at March 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. General Journal Date Description Debit Credit Requirement #9:Post the closing entries to the General Ledger T-accounts and compute ending balances. Just add to the adjusted balances already listed.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9962241

Have any Question?


Related Questions in Accounting Basics

Question - ivanhoe inc manufactures cycling equipment

Question - Ivanhoe Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a c ...

Question - alpha corp was organized on january 2 2018

Question - Alpha Corp. was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value of common stock @ a price of $50 per share. On December 31st, Alpha reported Net In ...

Question - speedy delivery company purchases a delivery van

Question - Speedy Delivery Company purchases a delivery van for $43,200. Speedy estimates that at the end of its four-year service life, the van will be worth $6,800. During the four-year period, the company expects to d ...

Question - community health center chc is considering

Question - Community Health Center (CHC) is considering spending fifty thousand dollars on a blood analyzer. The annual cash profits from the machine will be seven thousand dollars for each of the seven years of its usef ...

Question - an individual received 70 capital interest in a

Question - An individual received 70% capital interest in a general partnership by contributing investment land purchased 10 years ago for 40000 values 60000 and a personal non business truck purchased 9 months ago for 1 ...

Question -what is financial statement fraudhow is it

Question - What is financial statement fraud? How is it different from embezzlement and misappropriation? Why might senior management overstate or understate business performance?

Question - please solve with explanation - candy co

Question - Please solve with explanation - Candy Co. purchased a machine on January 1, 2011, for $300,000. At the time of purchase, the machine was estimated to have a life of 8 years and a residual value of $10,000. In ...

Question - in november 2018 the brunswick company signed

Question - In November 2018, the Brunswick Company signed two purchase commitments. The first commitment requires Brunswick to purchase 11,000 units of inventory at $8 per unit by December 15, 2018. The second commitment ...

Question - lois braggs owns a small restaurant in boston ms

Question - Lois Braggs owns a small restaurant in Boston. Ms. Bragg provided her accountant with the following summary information regarding expectations for the month of June. The balance in the cash account as of May 3 ...

Question - on october 1 2018 daw inc signed a long-term

Question - On October 1, 2018, DAW Inc. signed a long-term, non-cancellable purchase commitment with a major supplier to purchase raw materials needed for production of the company's product during 2019 for $1,000,000. O ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As