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(Question is on left and fill in the blank template is on the right) Question 4 (40 marks) Tom Thumb is the manager/owner of a
(Question is on left and fill in the blank template is on the right)
Question 4 (40 marks) Tom Thumb is the manager/owner of a landscaping business named Green Machine. The following summarized Green Machine's financial position on July 01, 2019: Question 4 (40 marks) a. Analvsis of Transactions Green Machine transacted the following during July 2019: a. Tom Thumb received a $25,000 inheritance cheque, and he deposited the cheque into Green Machine's bank account. b. Green Machine collected \$12,000 of its accounts receivable opening balance. c. Green Machine paid the opening balance of its accounts payable. d. Green Machine did some landscaping for a client and invoiced the client $30,000. e. Green Machine purchased $4,000 supplies on account. f. Green Machine incurred the following business expenses: - Paid $8,000 for equipment rental - Paid $2,000 for truck repairs g. Green Machine received \$14,000 cash for yard work done on a huge job site. h. Tom Thumb needed a holiday, so he withdrew $6,000 from Green Machine's bank account. i. Tom Thumb returned from his holiday. As he only used $3,000 of the $6,000 holiday money that he withdrew from the business, he deposited the remaining \$3,000 into Green Machine's bank accountStep by Step Solution
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