The following transactions have been journalized and posted to the proper accounts: i. Edward Wilson invested $8,000 cash in his new landscaping business. ii. The business paid the first month's rent with $300 cash. iii. The business purchased equipment by paying $2,000 cash and executing a note payable for $3,000. iv. The business purchased supplies for $200 cash. v. The business billed clients for a total of $1,000 for design services rendered. vi. The business received $750 cash from clients for services rendered above. vii. The owner took a withdrawal of $2,000. Required: Prepare the trial balance
The following transactions have been journalized and posted to the proper accounts: i. Edward Wilson invested $8,000 cash in his new landscaping business. ii. The business paid the first month's rent with $300 cash. iii. The business purchased equipment by paying $2,000 cash and executing a note payable for $3,000. iv. The business purchased supplies for $200 cash. v. The business billed clients for a total of $1,000 for design services rendered. vi. The business received $750 cash from clients for services rendered above. vii. The owner took a withdrawal of $2,000. Required: Prepare the trial balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following transactions have been journalized and posted to the proper accounts:
i. Edward Wilson invested $8,000 cash in his new landscaping business.
ii. The business paid the first month's rent with $300 cash.
iii. The business purchased equipment by paying $2,000 cash and executing a note payable for
$3,000.
iv. The business purchased supplies for $200 cash.
v. The business billed clients for a total of $1,000 for design services rendered.
vi. The business received $750 cash from clients for services rendered above.
vii. The owner took a withdrawal of $2,000.
Required:
Prepare the
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