Question

April Transactions
Date	Transaction Description
April 1	Started a landscaping business by making a $50,000 deposit in a company bank account, in exchange for 5,000 shares of $10 par value common stock.
April 1	Purchased insurance for the year and paid $3,600 cash.
April 1	Paid monthly rental of $2,500 cash on a warehouse to store the landscaping equipment.
April 3	Purchased landscaping equipment from Toro for $15,000, paying a downpayment of $10,000 cash, and $5,000 on account.
April 5	Purchased landscaping supplies of $750 on account.
i	Paid $500 cash for advertising in local newspapers.
April 10	Received $12,500 in cash for landscaping services provided.
April 12	Paid $2,000 on account for landscaping equipment previously purchased on April 3rd.
April 15	Provided landscaping services on account for $1,200.
April 20	Received $10,500 in cash for landscaping services provided.
April 28	Received $600 cash on account for landscaping services performed on April 15th.
April 30	Received $4,000 cash for landscaping services provided.
April 30	Paid a utility bill of $700 cash.
April 30	Paid dividends of $3,000 cash
April 30	The inventory of landscaping supplies showed a balance of $300 on hand at the end of the month.

Prepare a trial balance for March in the space below.

Answer 1

Date Accounts Title Debit Credit Trail Balance Accounts Title Accounts Payable Accounts Receivable$ Advertising Expenses S Cash Common Stock Dividend Equipment Prepaid Insurance Rent Expenses Service Revenue Supplies Supplies Expenses Utilities Expenses Grand Total Apr-01 Cash $50,000 Debit Credit Common Stock $50,000 3,750 Apr-01 Prepaid Insurance $3,600 600 Cash 3,600 500 Apr-01 Rent Expenses Cash 2,500 $55,300 2,500 $50,000 Apr-03 Equipment $15,000 3,000 Cash $10,000 $15,000 Accounts Payable 5,000 3,600 Apr-05 Supplies $ 2,500 750 Accounts Payable Apr-05 Advertising Expenses $ Cash 750 $28,200 500 300 500 450 Apr-10 Cash $12,500 700 Service Revenue $81,950 $81,950 $12,500 Apr-12 Accounts Payable Cash 2,000 2,000 Apr-15 Accounts Receivable $ 1,200 Service Revenue 1,200 Apr-20 Cash $10,500 Service Revenue $10,500 Apr-20 Cash 600 Accounts Receivable 600 Apr-30 Cash $4,000 Service Revenue $4,000 Apr-30 Utilities Expenses $ 700 Cash 700 Apr-30 Dividend 3,000 Cash 3,000 Apr-30 Supplies Expenses Supplies 750-300 450 450