Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 Steve Russell started a snow removal and landscaping business he called Total Care Services. Steve wants to track the revenue from snow removal

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 3 Steve Russell started a snow removal and landscaping business he called Total Care Services. Steve wants to track the revenue from snow removal and lawn maintenance separately. His friend who is an accounting student suggested he use two separate revenue accounts. Selected transactions for Total Care Services, for the year ended May 31, 2019, are listed below. Using the drop down menus on the Account Names, journalize the events. In each entry, list any/all accounts being debited FIRST. Ignore indenting the account names being credited. Use as many lines as you feel is necessary to prepare each Journal Entry. 1 Steve invested $2,780 cash in the business and opened a bank account in the name of Total Care Services. DR CR Accounts 2 Steve transfers his used pickup truck valued at $3,130 into the business. DR CR Accounts 3 Purchased a used snow plow from a dealer for $1,420 paying half as a down payment and half on account. DR CR Accounts in1 nuection 2 Question 3 Question 4 4 Plowed the parking lot of a local mall and billed the mall management company $865. Accounts DR CR 5 Paid for gas for the truck $100. Accounts DR CR 6 Plowed three neighbors' driveways and immediately got paid $20 each. Accounts DR CR Student Info Question 1 Question 2 Question 3 Question 4 + 7 Collected in full the invoice billed to the mall management company. Accounts DR CR 00 Paid balance owing on the purchase of the snow plow. Accounts DR CR

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_2

Step: 3

blur-text-image_3

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

Portfolio Of Marketing Audits Company Self Assessment Audits

Authors: David Crosby

1st Edition

1902433157, 978-1902433158

More Books

Students also viewed these Accounting questions

Question

Define the goals of persuasive speaking

Answered: 1 week ago