Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lars Linken opened Marigold Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 14 18

Lars Linken opened Marigold Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. 1 1 1 2 3 6 14 18 20 21 28 31 31 Issued 8,800 shares of common stock for $13,200 cash. Borrowed $5,400 cash by signing a 6-month, 6%, $5,400 note payable. Interest will be paid the first day of each subsequent month. Purchased used truck for $7,000 cash. Paid $1,200 cash to cover rent from March 1 through May 31. Paid $2,100 cash on a 6-month insurance policy effective March 1. Purchased cleaning supplies for $1,760 on account. Billed customers $3,260 for cleaning services performed. Paid $440 on amount owed on cleaning supplies. Paid $1,540 cash for employee salaries. Collected $1,410 cash from customers billed on March 14. Billed customers $3,700 for cleaning services performed. Paid $310 for gas and oil used in truck during month (use Maintenance and Repairs Expense). Declared and paid a $790 cash dividend.
image text in transcribed
image text in transcribed
image text in transcribed
Lars Linken opened Marigold Cleaners on March 1, 2022. During March, the following transactions were completed. Mar. Hsued 8,800 shares of common stock for $13,200 cash. 1 Borrowed $5,400 cash by signing a 6 -month, 6%,$5,400 note pyyable. Interest will be paid the first day of each subsequent month, 1 Purchased used truck for $7,000 cash. 2 Paid $1,200 cash to cover rent from March 1 through May 31. 3 Paid \$2,100 cash on a 6month insurance policy effective March 1 6 Purchased cleaning supplies for $1.760 on account. 14. Billed customers $3,260 for cleaning services performed 18. Paid $440 on amount owed on cleaning supplies 20 Paid $1,540 cash for emplovee salaries. 21 Collected \$1,410 cash from customers billed on March 14. 28 Belled customers $3,700 for cleaning services performed 31 Paid $310 for gas and oil used in truck during month (use Maintenance and Repairs Expense). 31. Declared and paid a $790 cash dividend: Prepare an adjusted trial balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Healthcare Fraud Auditing And Detection Guide

Authors: Rebecca S. Busch

2nd Edition

978-1118179802

More Books

Students also viewed these Accounting questions

Question

Define training and development.

Answered: 1 week ago

Question

What attracts you about this role?

Answered: 1 week ago

Question

How many states in India?

Answered: 1 week ago

Question

HOW IS MARKETING CHANGING WITH ARTIFITIAL INTELIGENCE

Answered: 1 week ago

Question

2. Develop a persuasive topic and thesis

Answered: 1 week ago

Question

1. Define the goals of persuasive speaking

Answered: 1 week ago