homework 260208
Aug 29, 2021 | Uncategorized
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Donegan’s Lawn Care Service began operations in July 2011. The company uses the following general ledger accounts:
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| Cash |
Capital Stock |
| Accounts Receivable |
Retained Earnings |
| Office Supplies |
Mowing Revenue |
| Mowing Equipment |
Salaries Expense |
| Accounts Payable |
Fuel Expense |
| Notes Payable |
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| The company engaged in the following transactions during its first month of operations: |
| July 18 |
Issued 500 shares of capital stock to Patrick Donegan for $1,500. |
| July 22 |
Purchased office supplies on account for $100. |
| July 23 |
Purchased mowing equipment for $2,000, paying $400 cash and issuing a 60-day note payable for the remaining balance.
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| July 24 |
Paid $25 cash for gasoline. All of this fuel will be used in July. |
| July 25 |
Billed Lost Creek Cemetery $150 for mowing services. The entire amount is due July 30. |
| July 26 |
Billed Golf View Condominiums $200 for mowing services. The entire amount is due August 1. |
| July 30 |
Collected $150 from Lost Creek Cemetery for mowing services provided on July 25. |
| July 31 |
Paid $80 salary to employee Teddy Grimm for work performed in July. |
| a. |
Record each of the above transactions in general journal form. (Omit the “$” sign in your response.)
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General Journal |
Debit |
Credit |
| July 18 |
(Click to select)Mowing equipmentCapital stockFuel expenseOffice suppliesMowing revenueNotes payableAccounts payableCash |
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(Click to select)Fuel expenseCashNotes payableOffice suppliesMowing equipmentCapital stockMowing revenueAccounts payable |
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| 22 |
(Click to select)Notes payableMowing revenueOffice suppliesMowing equipmentFuel expenseCapital stockAccounts payableCash |
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(Click to select)Capital stockFuel expenseNotes payableCashOffice suppliesAccounts payableMowing equipmentMowing revenue |
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| 23 |
(Click to select)Notes payableOffice suppliesMowing revenueCashAccounts payableFuel expenseMowing equipmentCapital stock |
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(Click to select)Notes payableCapital stockMowing equipmentFuel expenseAccounts receivableOffice suppliesCashAccounts payable |
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(Click to select)Office suppliesFuel expenseCapital stockMowing equipmentAccounts payableNotes payableCashAccounts receivable |
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| 24 |
(Click to select)Fuel expenseCapital stockMowing revenueAccounts payableOffice suppliesMowing equipmentNotes payableCash |
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(Click to select)Office suppliesCashFuel expenseMowing revenueAccounts payableCapital stockMowing equipmentNotes payable |
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| 25 |
(Click to select)Office suppliesAccounts receivableFuel expenseNotes payableMowing equipmentCapital stockMowing revenueCash |
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(Click to select)Accounts payableOffice suppliesFuel expenseCapital stockMowing revenueNotes payableCashMowing equipment |
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| 26 |
(Click to select)Mowing revenueOffice suppliesMowing equipmentFuel expenseNotes payableCapital stockAccounts receivableCash |
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(Click to select)Office suppliesMowing revenueCapital stockFuel expenseAccounts payableCashMowing equipmentNotes payable |
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| 30 |
(Click to select)Mowing equipmentAccounts payableOffice suppliesCapital stockMowing revenueNotes payableFuel expenseCash |
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(Click to select)Mowing equipmentOffice suppliesNotes payableFuel expenseCashMowing revenueAccounts receivableCapital stock |
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| 31 |
(Click to select)Salaries expenseCashNotes payableCapital stockAccounts payableFuel expenseOffice suppliesMowing revenue |
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(Click to select)Capital stockMowing equipmentOffice suppliesNotes payableCashFuel expenseMowing revenueAccounts payable |
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| b. |
Post each entry to the appropriate ledger accounts. (Record the transactions in the given order.Omit the “$” sign in your response.)
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| (Click to select)July 31July 22July 26July 23July 18 |
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(Click to select)July 25July 28July 24July 26July 23 |
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| (Click to select)July 30July 23July 20July 18July 26 |
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(Click to select)July 23July 30July 26July 18July 24 |
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(Click to select)July 31July 18July 24July 26July 25 |
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| (Click to select)July 25July 24July 18July 31July 22 bal. |
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| (Click to select)July 26July 23July 30July 25July 18 |
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(Click to select)July 23July 25July 30July 18July 26 |
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| (Click to select)July 26July 30July 18July 23July 25 |
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| (Click to select)July 20July 31July 23July 25July 26 bal. |
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| (Click to select)July 26July 23July 30July 22July 18 |
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| (Click to select)July 25July 31July 23July 26July 20 bal. |
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| (Click to select)July 23July 22July 26July 30July 18 |
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| (Click to select)July 31July 23July 18July 22July 26 bal. |
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(Click to select)July 18July 23July 22July 31July 26 |
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(Click to select)July 26July 23July 18July 31July 22 bal. |
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(Click to select)July 26July 23July 31July 22July 18 |
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(Click to select)July 18July 23July 22July 26July 31 bal. |
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(Click to select)July 23July 31July 18July 22July 26 |
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(Click to select)July 26July 31July 22July 18July 23 bal. |
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(Click to select)July 18July 23July 22July 31July 26 bal. |
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(Click to select)July 23July 31July 25July 18July 26 |
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(Click to select)July 26July 25July 23July 18July 31 |
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(Click to select)July 30July 28July 31July 25July 1 bal. |
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| (Click to select)July 31July 24July 18July 23July 26 |
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| (Click to select)July 26July 23July 31July 25July 18 bal. |
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| (Click to select)July 24July 18July 26July 31July 23 |
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| (Click to select)July 23July 18July 25July 31July 26 bal. |
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| c. |
Prepare a trial balance dated July 31, 2011. (Omit the “$” sign in your response.)
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DONEGAN’S LAWN CARE SERVICE
Trial Balance
July 31, 2011 |
| (Click to select)Mowing equipmentCapital stockAccounts payableCashNotes payable |
$ |
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| (Click to select)Accounts receivableCapital stockNotes payableRetained earningsMowing equipment |
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| (Click to select)Mowing equipmentAccounts payableOffice suppliesCapital stockNotes payable |
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| (Click to select)Office suppliesAccounts payableCapital stockMowing equipmentNotes payable |
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| (Click to select)Office suppliesAccounts receivableCashAccounts payableSalaries expense |
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$ |
| (Click to select)Accounts receivableOffice suppliesNotes payableCashSalaries expense |
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| (Click to select)Office suppliesCapital stockAccounts receivableSalaries expenseCash |
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| (Click to select)Accounts receivableSalaries expenseCashRetained earningsOffice supplies |
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| (Click to select)Mowing revenueFuel expenseAccounts receivableSalaries expenseCash |
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| (Click to select)Fuel expenseAccounts payableSalaries expenseMowing revenueRetained earnings |
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| (Click to select)Fuel expenseRetained earningsSalaries expenseMowing revenueAccounts payable |
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$ |
$ |
