finance Vickie Lands owns a business called LandScape. LandScape uses the following accounts.
Cash, (Vickie Lands, Drawing), Accounts Receivable—Alston Goff, Sales, Accounts Receivable—Josie Leveson, Advertising Expense, Supplies, Miscellaneous Expense, Prepaid Insurance, Rent Expense
Accounts Payable—North End Supplies, Repair Expense, Accounts Payable—Bethany Supplies, Utilities Expense, Vickie Lands, Capital
1. Prepare a T account for each account.
2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Write the date of the transaction in parentheses before each amount.
June 1. Received cash from owner as an investment, $2,700.00.
2. Paid cash for rent,$500.00.
4. Paid cash for supplies, $300.00.
4. Received cash from sales,$850.00.
5. Paid cash for insurance, $275.00.
8. Sold services on account to Alston Goff,$700.00.
9. Bought supplies on account from Bethany Supplies, $200.00.
10. Paid cash for repairs,$75.00.
11. Received cash from owner as an investment, $1,900.00.
11. Received cash from sales,$900.00.
12. Bought supplies on account from North End Supplies, $130.00.
13. Received cash on account from Alston Goff,$500.00.
15. Paid cash for miscellaneous expense, $25.00.
16. Paid cash on account to Bethany Supplies,$50.00.
22. Paid cash for electric bill (utilities expense), $55.00.
23. Paid cash for advertising,$95.00.
25. Sold services on account to Josie Leveson, $450.00.
26. Paid cash to owner for personal use,$400.00.
30. Received cash on account from Josie Leveson, $200.00. 1st Edition•ISBN: 9781118414705David Besanko, Mark Shanley, Scott Schaefer 1st Edition•ISBN: 9781506699844Alexander Holmes, Barbara Illowsky, Susan Dean 15th Edition•ISBN: 9780073401805 (8 more)Douglas A. Lind, Samuel A. Wathen, William G. Marchal 13th Edition•ISBN: 9781305983038David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams