Question 3 Simon Daigle owns and operates his own lawn care company. The...

70.2K

Verified Solution

Question

Accounting

Question 3
Simon Daigle owns and operates his own lawn care company. The following accounts are in Mr. Daigle's ledger:
\table[[Bank,Truck,Revenue],[A/R P. Anderson,Bank Loan,Advertising Expense],[A/R W. McPherson,A/P Green Supply,Interest Expense],[A/R Z. M. Osborn,A/P East Coast Repair,Telephone Expense],[Supplies,S. Daigle, Capital,Truck Expense],[Equipment,S. Daigle, Drawings,Utilities Expense]]
Enter the following transactions on page 10 of the general journal form. (This is the Excel spreadsheet that is provided as a link on the assignment page in the course).
Remember to include explanations and one blank line between transactions and proper formatting techniques.
10 marks
July
2 Received $210 cash for services performed.
3 Purchased $110 supplies on credit from Green Supply
8 Received $400 from P. Anderson as payment on account.
10 M. Osborn paid $100 on her account and Simon Daigle, the owner, kept the money for his personal use.
10 Received a bill from East Coast Repair for $105 for repairs to the truck.
14 Received $500 cash for services performed.
18 Paid $50 cash for an advertisement in the Daily Journal.
21 Received notice from the bank indicating that $60 was taken from the bank account to pay for interest charges on the loan.
26 Performed $350 services for M. Osborn on credit.
29 Issued a cheque for $110 to Green Supply in partial payment of the amount owing.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students