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Please complete journal entries, unadjusted trial balance and adjusted trial balance for the month of January. Thank you. 534,000 Your Company was incorporated on January
Please complete journal entries, unadjusted trial balance and adjusted trial balance for the month of January. Thank you.
534,000 Your Company was incorporated on January 1, 2021. The business provides a full range of landscaping services, including landscape design, construction, and maintenance. The following transactions occurred during the first three months of operations: January 1 Common stock is issued in exchange for cash in the amount of............... 1 The company borrows money from the bank by signing a promissory note in the amount of............. 1 The company pays cash for a one-year insurance policy in the amount of..... 2 Rent on a storage facility for the month is paid in the amount of................. 4 Landscaping equipment is purchased for cash in the amount of.... 7 Supplies are purchased on account in the amount of............... 10 The company pays for advertisements to be run during the current month in the amount of....... 15 Services are performed for cash in the amount of. 20 Services are performed on account in the amount of............. 25 A customer pays cash in advance for future services in the amount of......... 30 Gasoline for the lawn mowers for the current month is paid in cash in the amount of.............. 112,140 16,020 13,350 427,200 23,389 2,003 44,322 22,428 8,010 3,004 a. 14,033 3,976 18,524 7,120 b. C. Information for Monthly Adjusting Entries Supplies on hand at the end of each month are as follows: January..... February.. March....... Depreciation for each month totals:. Employees are paid on the first of the month for salaries earned in the previous month. Accrued salaries at the end of each month are as follows: At January 31............ At February 28............ At March 31... The principal on the loan is due in 2 years. Interest (at a rate of 10%) is accrued at the end of each month and is payable at the end of each year, beginning December 31, 2020. (ROUND TO THE NEAREST DOLLAR.) Adjustments are made at the end of each month for prepaid insurance. (ROUND TO THE NEAREST DOLLAR.) 26,700 28,035 31,399 d. eStep by Step Solution
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