Problem 3.6

From financial and managerial accounting the basis for business decisions

ISBN 125969240x

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aBb PROBLEM 3.6A Short Donegan's Lawn Care Service began operations in July, current year The company uses the following Accounts Receivable Office Supplies Mowing Equipment Accounts Payable Notes Payable Capital Stock Retained Earnings Mowing Revenue Salaries Expense Fuel Expense The company engaged in the following transactions during its first month of operations July 18 July 22 July 23 Issued 500 shares of capital stock to Patrick Donegan for S1.500 Purchased office mpplies on account for $100 July 24 July 25 July 26 July 30 July 31 remaining balance. Paid $25 cash for gasoline. All of this fuel will be used in July Billed Lost Creek Cemetery $150 for mowing services. The entire amount is due July 30RES Billed Golf View Condomuniums $200 for mowing services. The entire a Collected $150 from Lost Creek Cemetery for mowing services provided on July 2:5 Paid S80 salary to employee Teddy Gnmm for work performed ia July e. Prepare a trial balance dated July 31, current vear