Familiarize yourself with the contents of this company before you begin.

Prepare the entries using the list of transactions. Put them in the general journal.

Post the journal entries from the general journal to the general ledger.

Prepare a trial balance using the general ledger totals.

Make the adjusting journal entries in the general journal.

Post the adjustments to the general ledger.

Prepare the financial statements.

Make the appropriate closing entries in the general journal.

Post the closing entries to the general ledger.

Prepare a post$-$closing trial balance.

$2$

GLORIOUS GARDEN LAWN SERVICE

CHART OF ACCOUNTS

ASSETS

$100$ Cash$-$Checking

$105$ Cash$--$Savings

$110$ Accounts Receivable$=-$Mr$.$ Foster

$111$ Accounts Receivable$=-$Mrs$.$ Sanchez

$112$ Accounts Receivable$=-$Mr$.$ Grayson

$120$ Advertising Materials

$130$ Office Supplies

$140$ Landscaping Supplies

$1502004$ Nissan Pickup Truck

$151$ Accumulated Depreciation$--$Pickup Truck

$160$ Lawn Equipment

$161$ Accumulated Depreciation$--$Lawn Equipment

LIABILITIES

$200$ Note Payable$=-$Aunt Emma

$210$ Accounts Payable$--$Lovell Home & Garden Center

$220$ Accounts Payable$-$VISA $$

$230$ Interest Payable

$240$ Unearned Revenue

CAPITAL

$300$ Jay Stevens, Capital

$310$ Jay Stevens, Drawing

$320$ Income Summary

REVENUES

$400$ Lawn Care$/$Landscaping Revenue

$410$ Interest Revenue

EXPENSES

$500$ Landscaping Supplies Expense

$510$ Gas and Oil Expense

$520$ Telephone Expense

$530$ Advertising Expense

$540$ Office Supplies Expense

$545$ Interest Expense

$550$ Pickup Truck Maintenance Expense

$560$ Equipment Rental Expense

$570$ Insurance Expense

$580$ Depreciation Expense$=$Pickup Truck

$590$ Depreciation Expense$-+$Lawn Equipment

NARRATIVE OF TRANSACTIONS

$($Note: Unless stated otherwise, assume that all cash

in and out is checking account related.$)$

No$.$ Date Transaction

$17/1$ Jay opened two accounts at Union State Bank, using $$3,000$ of his own money. He

deposited $$2,500$ in a checking account and $$500$ into savings.

$27/2$ Jay borrowed $$6,000$ from his Aunt Emma and signed a note with $8\%$ interest. Under the

terms of the note, he must make payments of $$250$ plus accrued interest on the first day

of each month. Jay put $$4,500$ into his checking account and $$1,500$ into savings.

$37/3$ Jay purchased a $2004$ Nissan pickup truck by writing a check for $$4,820.$

$47/3$ Jay purchased insurance for the pickup truck at a cost of $$150$ per month. He paid for the

month of July.

$57/3$ Jay established a cell phone account for the business. The phone was free, and he paid

$$75$ for the first month's service.

$67/5$ Jay returned to the bank and applied for a VISA $$ card. He received a card with a $$1,000$

credit limit$.$

$77/5$ Jay purchased a lawn mower and garden tools on account from Lovell Home & Garden

Center. The total cost was $$1,080.($Debit Lawn Equipment.$)$

$87/6$ Jay purchased $$185$ worth of gloves, stakes, trimmer lines, and other supplies at the local

hardware store using his VISA card.

$97/6$ Jay paid $$80$ cash for gas and oil for his pickup truck and the mower.

$107/7$ A box of $500$ additional checks arrived from the bank along with a memo that the $$25$

cost was charged to Jay's checking account. He considered this an immaterial amount and

charged it all to Office Supplies Expense.

$117/7$ Jay had $1,500$ advertising flyers printed to promote his new business. The flyers cost

$$225$ and are considered advertising materials. He also purchased $$90$ of office supplies.

Jay used his VISA for all of these purchases.

$127/8$ One of Jay's neighbors, Mr$.$ Adams, is leaving town for six weeks. He paid Jay $$360$ to

mow his lawn each week and keep his hedges trimmed while he is away.

$137/9$ Jay paid $$75$ cash to rent some equipment needed for the Foster job $($see transaction $15).$

$147/10$ Jay purchased another $$60$ of gas using his VISA card.

$157/11$ Jay completed a landscaping and clean$-$up job for Mr$.$ Foster. He left Mr$.$ Foster a bill for

$$720.$

$167/13$ Jay charged another $$140$ in landscaping supplies at Lovell Home & Garden Center.

No$.$ Date Transaction

$177/14$ Jay completed a $$550$ job for Mrs$.$ Sanchez. She had hired him to mow her lawn and

create a perennial flower bed in the front of her house. Mrs$.$ Sanchez paid him $$250$ and

agreed to pay the rest later.

$187/15$ Jay's girlfriend insisted that he take a break. He withdrew $$120$ from his checking

account to go out for a nice evening with his girlfriend, Vanessa. They went in Vanessa$$s

car, as an evening out in a landscaping truck wasn't exactly what they were looking for.

$197/16$ Jay charged $$110$ on his VISA card for an oil change and some other minor maintenance

on his truck.

$207/17$ Jay paid Lovell Home & Garden Center $$175$ on his account.

$217/17$ Jay transferred $$300$ from his checking acco