Flower Landscaping Corporation_Journal to Balance sheet

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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.

  

 

 

Requirement 1—Prepare the Journal Entries in the General Journal

Requirement 2—Post Journal Entries to the General Ledger

Requirement 3—Prepare a Trial Balance

Requirement 4—Prepare the Adjusting Entries

Requirement 5—Post Adjusting Entries to the General Ledger

Requirement 6—Prepare an Adjusted Trial Balance

Requirement 7—Prepare the Financial Statements

Requirement 8—Prepare the Closing Entries

Requirement 9—Post Closing Entries to the General Ledger

Requirement 10—Prepare the Post Closing Trial Balance

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    Flower Landscaping Corporation_Journal to Balance sheet
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