Dale's Lawn Service had following balances at the beginning of the accounting period ($): PPE 150 Bank a/c 300 Accounts receivable 100 Accounts payable 200 Loan 300 Owner's equity 50 During the period Dale's Lawn Service completed the following transactions: a. Paid for supplies purchased on credit last month $30. b. Received cash from customers billed last month $40. c. Made a payment on accounts payable $50. d. Purchased supplies on credit $60. e. Billed a client for lawn services $70. f. Made a rent payment for the current month $80. g. Received cash from customers for lawn services $90. h. Paid employee wages $100. į. Ordered equipment $110. j. Received and paid for the equipment ordered in į. Required: Record the transactions. Prepare a trial balance before adjustments.

Dale's Lawn Service had following balances at the beginning of the accounting period ($): PPE 150 Bank a/c 300 Accounts receivable 100 Accounts payable 200 Loan 300 Owner's equity 50 During the period Dale's Lawn Service completed the following transactions: a. Paid for supplies purchased on credit last month $30. b. Received cash from customers billed last month $40. c. Made a payment on accounts payable $50. d. Purchased supplies on credit $60. e. Billed a client for lawn services $70. f. Made a rent payment for the current month $80. g. Received cash from customers for lawn services $90. h. Paid employee wages $100. į. Ordered equipment $110. j. Received and paid for the equipment ordered in į. Required: Record the transactions. Prepare a trial balance before adjustments.

Name: Dale's Lawn Service had following balances at the beginning of the ac
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Description: Dale's Lawn Service had following balances at the beginning of the accounting period ($):PPE 150Bank a/c 300Accounts receivable 100Accounts payable 200Loan 300Owner's equity 50During the period Dale's Lawn Service completed the following transaction

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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