Fi504 Case Study

REQUIREMENT #1: During its initiatory month of operation, the Parkview grace Corporation, which specializes in residential landscaping, completed the following transactions: July 1Began cable by making a deposit in a go with bank account of $24,000, in exchange for 4,800 shares of $5 tally value common stock. July 1paying the grant on a annual insurance policy, $2,400. July 1Paid the current months rent, $2,080. July 3Purchased landscaping equipment from Brookwood family, $8,800. Paid $1,200 down and the mate was placed on account. Payments will be $400.00 per month for 19 months. The first payment is due 8/1. Note: ingestion Accounts Payable for the Balance Due. July 8Purchased landscaping supplies from lakeside Company on credit, $780. July 12Paid utility bill for July, $308. July 16Received change for landscaping revenue for the first fractional of July, $2,724. July 19Made payment on account to Lakeside Company, $400. July 31 Received funds for landscaping revenue for the go half of July, $2,620.

July 31Declared and paid cash dividend of $1,600. work journal entries to record the July transactions in the customary ledger below.Use the following account names for journal entries. habitual JournalChart of Accounts: Account Title (Normal Balance) DateDescription(Account Name) debit entryCredit Assets Cash (Debit) Prepaid policy (Debit) Landscaping Supplies (Debit) Landscaping Equipment (Debit) Accum Depr -Equipment (Credit) Liabilities...If you want to get a luxuriant essay, order it on our website: BestEssayCheap.com

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