Flower Landscaping Corporation_Journal to Balance sheet
| 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 |