Trim Lawn, Inc., is a lawn care company. Thus, the company earns its revenue from sending its trucks to customers' residences and certain commercial establishments to care for lawns and shrubbery. Trim Lawn's trial balance at the end of the first 11 months of the year follows:
|
TRIM LAWN, INC. |
|
|
|
Trial Balance |
|
|
|
November 30 |
|
|
| Acct. |
|
|
|
| No. |
Account Title |
Debits |
Credits |
| 100 |
Cash |
$ 63,740 |
|
| 103 |
Accounts Receivable |
88,600 |
|
| 150 |
Trucks |
102,900 |
|
| 160 |
Office Furniture |
8,400 |
|
| 200 |
Accounts Payable |
|
$ 33,600 |
| 300 |
Capital Stock |
|
30,000 |
| 310 |
Retained Earnings, 2010 January 1 |
|
30,540 |
| 400 |
Service Revenue |
|
371,010 |
| 505 |
Advertising Expense |
18,300 |
|
| 506 |
Gas an d Oil Expense |
21,900 |
|
| 507 |
Salaries Expense |
65,850 |
|
| 511 |
Utilities Expense |
2,310 |
|
| 515 |
Rent Expense |
15,000 |
|
| 518 |
Supplies Expense |
75,600 |
|
| 531 |
Entertainment Expense |
2,550 |
|
|
|
$465,150 |
$465,150 |
Dec. 2 Paid rent for December, $ 3,000.
5 Paid the accounts payable of $ 33,600.
8 Paid advertising for December, $ 1,500.
10 Purchased a new office desk on account, $ 1,050.
13 Purchased $ 240 of supplies on account for use in December.
15 Collected cash from customers on account, $ 75,000.
20 Paid for customer entertainment, $ 450.
24 Collected an additional $ 6,000 from customers on account.
26 Paid for gasoline used in the trucks in December, $ 270.
28 Billed customers for services rendered, $ 79,500.
30 Paid for more December supplies, $ 12,000.
31 Paid December salaries, $ 15,300.
31 Paid a $ 4,000 cash dividend. (The Dividends account is No. 320.)
Prepare a trial balance as of December 31.