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Flower Landscaping Corporation_Journal to Financial statements




Question;During its first month of operation, the;Flower Landscaping Corporation, which specializes in residential landscaping;completed;the following transactions.;March 1;Began business by making a deposit;in a company bank account of $72,000, in exchange;for 7,200 shares of $10 par value;common stock.;March 1;Paid the current month's;rent, $4,500.;March 1;Paid the premium on a;1-year insurance policy, $3,300.;March 7;Purchased supplies on;account from Parkview Company, $900.;March 10;Paid employee salaries;$2,200.;March 14;Purchased equipment from;Hammond Company, $9,000. Paid $1,500 down and the balance was;placed on account.;Payments will be $375.00 per month for 20 months. The first payment is due;4/1.;Note: Use accounts;payable for the balance due.;March 15;Received cash for;landscaping revenue for the first half of March, $4,896.;March 19;Made payment on account;to Parkview Company, $450.;March 31;Received cash for;landscaping revenue for the last half of March, $5,304.;March 31;Declared and paid cash;dividend of $1,000.


Paper#37453 | Written in 18-Jul-2015

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