Accounting Standards

2. Eric Inahaba is in business for himself as a groundskeeper and gardener in Bathurst, New Brunswick. He cuts grass, weeds gardens, and trims trees and shrubs for a number of customers on a regular basis. The following accounts (on the next page) are in Eric Inahaba's ledger: OP Section 5.2 151 Bank A/P-Pesticide Products A/R-G. Yung A/R-F. Sawchuck A/R - W. Scott Chemical Supplies Equipment Truck A/P Pro Hardware E. Inahaba, Capital E. Inahaba, Drawings Landscaping Revenue Advertising Expense Interest Expense Telephone Expense Truck Expense Bank Loan. A/P-Banner News Wages Expense Record the transactions shown below, using the chart provided in your Workbook. TRANSACTIONS 1. Purchased $125 worth of chemical supplies on credit from Pesticide Products. 2. Received a bill from Pro Hardware for $150 for the purchase of a new ladder on credit. 3. Issued a cheque for $100 to W. Decorte for part-time wages. 4. Received $50 cash from a customer for tree trimming. 5. Sold services to G. Yung for $100 on credit. 6. Received a bill from the Banner News regarding a $50 advertisement placed in the newspaper on credit. 7. Issued a cheque for $175 to E. Inahaba, the owner, for his personal use. 8. Received a notice from the bank stating that it had taken $90 from the business's bank account to pay for interest charges on the bank loan. 9. Received a memo from E. Inahaba, the owner, stating that he had received $100 from a cash customer. The money was not put in the bank as usual but was kept by Mr. Inahaba. 2. Eric Inahaba is in business for himself as a groundskeeper and gardener in Bathurst, New Brunswick. He cuts grass, weeds gardens, and trims trees and shrubs for a number of customers on a regular basis. The following accounts (on the next page) are in Eric Inahaba's ledger: OP Section 5.2 151 Bank A/P-Pesticide Products A/R-G. Yung A/R-F. Sawchuck A/R - W. Scott Chemical Supplies Equipment Truck A/P Pro Hardware E. Inahaba, Capital E. Inahaba, Drawings Landscaping Revenue Advertising Expense Interest Expense Telephone Expense Truck Expense Bank Loan. A/P-Banner News Wages Expense Record the transactions shown below, using the chart provided in your Workbook. TRANSACTIONS 1. Purchased $125 worth of chemical supplies on credit from Pesticide Products. 2. Received a bill from Pro Hardware for $150 for the purchase of a new ladder on credit. 3. Issued a cheque for $100 to W. Decorte for part-time wages. 4. Received $50 cash from a customer for tree trimming. 5. Sold services to G. Yung for $100 on credit. 6. Received a bill from the Banner News regarding a $50 advertisement placed in the newspaper on credit. 7. Issued a cheque for $175 to E. Inahaba, the owner, for his personal use. 8. Received a notice from the bank stating that it had taken $90 from the business's bank account to pay for interest charges on the bank loan. 9. Received a memo from E. Inahaba, the owner, stating that he had received $100 from a cash customer. The money was not put in the bank as usual but was kept by Mr. Inahaba