I started this and I am so lost and confused that I can not seem to figure out where I am supposed to make changes.

Instructions:

1.

Using the chart of accounts provided

below

,

and the Excel template provided with this

assignment,

p

repare journal entries, in good form,

to record the

issuance of bonds and

the investment transactions.

Start with

Page 3

of the General Jour

nal.

Explanations are

optional.

Round all journal entries to two decimal places.

2.

Post the entries to the general ledger provided.

You only need to create ledgers for the

accounts in Part 1. Record any existing account balances as beginning balances usin

g

the values from the adjusted trial balance.

3.

Prepare a classified

balance

sheet

for

B&L Landscapes, Inc. for July 31

, 2017

.

4.

On December 15, 2017

, Crestline Pipe, Inc. pays a $5,000 dividend. Prepare the journal

entry, in good form, to record B&L?s

receipt of their share of the dividend. Record th

is

on

Page 4

of the General Journal. Explanations are optional.

5.

Crestline Pipe, Inc. reports total net income of $21,500 for t

he year ending December 31,

2017

.

6.

Record the

necessary adjusting

journal entri

es for

B&L Landscapes, Inc. investments and

bonds on

Page 5

of the General Journal.

Explanations are optional.

GENERAL JOURNAL DATE DESCRIPTION Jan-16 Cash Larry Capital Bill Capital Prefered stock 1/7/2016 Accounts receivable Bill Capital Larry Capital 1/7/2016 Pre-Paid insurance Larry Capital Bill Capital Page POST. REF. 101 301 301 310 110 301 301 130 301 301 DEBIT 29,500 11,000.000 11,500.000 7,000.000 3,500.000 500.000 3,000.000 600.000 100.000 500.000 GENERAL JOURNAL DATE DESCRIPTION 1/7/2016 Inventory Larry Capital Bill Capital 1/7/2016 Land Bill Capital 1/7/2016 Building Bill Capital Page POST. REF. 140 301 301 150 301 152 301 DEBIT DESCRIPTION 1/7/16 Equiptment Larry Capital Bill Capital 02/24/2017 CREDIT 2,000 1,000.00 1,000.00 9,000.00 9,000.00 35,000.00 35,000.00 GENERAL JOURNAL DATE CREDIT Page POST. REF. 153 301 301 DEBIT CREDIT 17,500.00 10,000.00 7,500.00 GENERAL LEDGER ACCOUNT ACCOUNT NO. POST DATE DESCRIPTION REF. BALANCE DEBIT CREDIT ACCOUNT DESCRIPTION REF. BALANCE DEBIT CREDIT ACCOUNT Debit Credit ACCOUNT NO. POST DATE Credit ACCOUNT NO. POST DATE Debit DESCRIPTION REF. BALANCE DEBIT CREDIT Debit Credit SP17 B&L LANDSCAPES, INC. BALANCE SHEET July 31, 2017 Current Assests Cash Accounts recievable Pre-paid insurance Inventory Total Current assests 39,500 3,500 600 2000 35600 Assets Land Building Total assets 9000 35000 44000 Total of all assets 79600 Liabilities and Owners equity Accounts payable 5,500 Total assets Preferred stock 45000 7000 Common stock Total Liabilities and equity 22100 79600 SP17