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A. Post the transactions to the general joumal, T-account ledger, and trial balance sheet. B. C. After posting adjusting entries, prepare an adjusted trial
A. Post the transactions to the general joumal, T-account ledger, and trial balance sheet. B. C. After posting adjusting entries, prepare an adjusted trial balance and financial statements (Income statement, statement of retained earnings, and balance sheet). Prepare closing entries, post the closing entries, and prepare a post-closing trial balance. TRANSACTIONS Issued common stock to shareholders in exchange for $40,000 cash on May 1, 2021. Borrowed $20,000 on May 1, 2021, from a bank for a loan to help cover any expenses. Purchased a truck for $15,000 on May 2, 2021, that will be used to transport lawnmowers and other lawn equipment. Purchased office supplies on May 3, 2021, for $1,500. On May 5, 2021, paid $800 for rental of the main office spaces. Received cash totaling $420 from a residential cuifomer on May 7, 2021, for lewncare provided. Received $630 from a residential customer on May 9, 2021, for landscaping provided. Incurred marketing expense on account of $350 on May 11, 2021. Received prepayment of $2,310 cash on May 15, 2021, for landscaping to be provided to a commercial business from May 20, 2021-June 30, 2021. Pald wages of $600 on May 16, 2021. Received $100 for weeding done today on May 16, 2021. ADJUSTING ENTRIES Provided landscaping services of $420 to customer in #9 from May 20-May 31, 2021. Used office supplies totaling $90 on May 31, 2021. Incurred depreciation expense on the truck purchased in #3 of $300 on May 31, 2021. Recorded interest expense of $45 on bank loan on May 31, 2021, payment is due June 10, 2021.
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