Answer:
b. In the books of Thoro Clean :
Date | Account Titles | Debit | Credit |
$ | $ | ||
April 1 | Cash | 14,000 | |
Common Stock | 14,000 | ||
owner purchased common stock for cash | |||
April 2 | Prepaid Van Lease | 2,850 | |
Cash | 2,850 | ||
paid six months lease on van | |||
April 3 | Cash | 10,000 | |
Notes Payable | 10,000 | ||
borrowed money from bankfor one year, interest rate of 10% | |||
April 3 | Equipment | 5,500 | |
Cash | 2,000 | ||
Accounts Payable | 3,500 | ||
purchased equipment made down payment withbalance due in 30 days | |||
April 4 | Supplies | 4,300 | |
Cash | 4,300 | ||
purchased supplies for cash | |||
April 7 | Advertising Expense | 350 | |
Cash | 350 | ||
paid for april advertising | |||
April 21 | Accounts Receivable | 3,500 | |
Cleaning Fees Earned | 3,500 | ||
billed customers for services | |||
April 23 | Accounts Payable | 1,500 | |
Cash | 1,500 | ||
payment on account | |||
April 28 | Cash | 2,300 | |
Accounts Receivable | 2,300 | ||
collections from customers from account | |||
April 29 | Dividends | 1,000 | |
Cash | 1,000 | ||
shareholders are paid a cash dividend | |||
April 30 | Wage Expense | 1,750 | |
Cash | 1,750 | ||
paid wages for april | |||
April 30 | Fuel Expense | 350 | |
Cash | 350 | ||
paid for gasoline used in april |
April 1 Randy Smith invested $14,000 cash to begin the business; he received common stock for...
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