Question

Below are the transactions for Broncho Landscaping Masters, Inc. for the month of April 2019 This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to launch a career on HGTV April 1-Invested $15,000 cash and an SUV valued at $45,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. April 3-Borrowed $50,000 from Last National Bank. The loan is due in 1 year and has an interest rate of 12%. a. b. c. April 5-Purchased a work truck from Danny Stewart Motors for $9,000 cash. d. April 5-The Corporation purchased a nine-month insurance policy for $4,500 and charged the amount to an asset account. e. April 7-Performed landscape services for Peaceful Rest Cemetery and received $3,500 cash. f. April 8-Completed a $12,000 landscaping job and billed Mercy Rest Home for the amount due. g. April 15-Paid employee salaries of $2,000. h. April 16-Received $2,300 from Judge Judy for planting a rose garden. i. April 17-Received $18,000 from Rest Well Cemetery for an annual maintenance contract. The amount was charged to a revenue account. j. April 18-Received a check from Mercy Rest Home for the full amount due. k. April 19-Received a bill from Edmond Telephone Company for $400 1. April 19-Received an electric bill from Edmond Light and Power for $975. m. April 20--Purchased fuel for the SUV and truck on credit for $425. n. April 21--Paid office rent of $2,400. o. April 21-Purchased office supplies from Staples for $1,200 cash and recorded them in an inventory account. p. April 22-Paid the telephone bill and the electric bill. q. April 25-Paid $135 to Slow-Joe Lube Company for auto service. r. April 30--Received cash of $3,600 for several landscaping jobs. s. April 30-Paid a cash dividend to the owner of $1,900.

Answer 1