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Steve Russell started a snow removal and landscaping business he called Total Care Services. Selected transactions for Total Care Services are listed below. 1 Steve
Steve Russell started a snow removal and landscaping business he called Total Care Services. Selected transactions for Total Care Services are listed below. 1 Steve transfers his used pickup truck valued at $3,580 into the business. 2 Steve invested $2,770 cash in the business and opened a bank account in the name of Total Care Services 3. Purchased a used snow plow from a dealer for $1,360 paying half as a down payment and half on account 4. Plowed the parking lot of a local mall and billed the mall management company $835. 5. Paid for fuel for the truck $135. 6 Plowed three neighbours' driveways and immediately got paid $55 each. 7. Collected in full the invoice billed to the mall management company. 8. Paid balance owing on the purchase of the snow plow. 9. Purchased a new lawn mower for $860, paying 20% down in cash, the remainder on account. 10 Paid for business cell phone charges of $35. 11. Purchased $300 of lawn maintenance supplies for cash. 12 Billed customers $1,850 for lawn maintenance services completed. 13 Paid balance owing on lawn mower. 14 Collected $835 from customers for services previously billed. 15 Steve withdrew $1.070 cash for personal use. 16 Provided lawn maintenance services totalling $1.405 for several clients - one client whose bill is $175 pays cash, the remainder are on account For each transaction indicate The basic type of account debited and credited lasser ability owner's equity) The specific account debited and credited (Cash Rent Expense Service Revenue, etc) 10C Rain showers
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