*Glorious Garden Lawn Service*

*CHART OF ACCOUNTS*

*ASSETS*
100 Cash-Checking
105 Cash-Savings
110 Accounts Receivable-Mr. Foster
111 Accounts Receivable-Ms. Sanchez
112 Accounts Receivable- Mr Grayson
120 Advertising Materials
130 Office Supplies
140 Landscaping Supplies
150 2004 Nissan Pickup Truck
151 Accumulated Depreciation-Lawn Equipment

*LIABILITIES*
200 Note Payable-Aunt Emma
210 Accounts Payable-Lovell Home & Garden Center
220 Accounts Payable-VISA
230 Interest Payable
240 Unearned Revenue

*CAPITAL*
300 Jay Stevens, Capital
310 Jay Stevens, Drawing
320 Income Summary

*REVENUES*
400 Lawn Care/Landscaping Revenue
410 Interest Revenue

*EXPENSES*
500 Landscaping Supplies Expense
510 Gas and Oil Expense
520 Telephone Expense
530 Advertising Expense
540 Office Supplies Expense
545 Interest Expense
550 Pickup Truck Maintenance
560 Equipment Rental Expense
570 Insurance Expense
580 Depreciation Expense-Pickup Truck
590 Depreciation Expense-Lawn Equipment

*NARRATIVE OF TRANSACTIONS*
1) 7/1 Jay opened two accounts at Union State Bank, using $3000 of his own money. He deposited 2,500 in a checking acco
2) 7/2 Jay borrowed $6,000 from his Aunt Emma and signed a note with 8% interest. Under the terms of the note, he must
3) 7/3 Jay purchased a 2004 Nissan pickup truck by writing a check for $4,820.
4) 7/3 Jay purchased insurance for the pickup truck at a cost of $150 per month. He paid for the month of July.
5) 7/3 Jay established a cell phone account for the business. The phone was free, and he paid $75 for the first month's serv

6) 7/5 Jay returned to the bank an applied for a VISA care. He received a card with a $1,000 credit limit.
7) 7/5 Jay purchased a lawn mower and garden tools on account from Lovell Home & Garden Center. The total cost was $1,
8) 7/6 Jay purchased $185 worth of gloves, stakes, trimmer lines, and other supplies at the local hardware store using his V
9) 7/6 Jay paid $80 cash from gas and oil for his pickup truck and the mower.
10) 7/7 A box of 500 additional checks arrived from the bank along with a memo that the $25 cost was charged to Jay's che

11) 7/7 Jay had 1,500 advertising flyers printed to promote his new business. The flyers cost $225 and are considered adve
12) 7/8 One of Jay's neighbors, Mr. Adams, is leaving town for six weeks. He paid Jay $360 to mow his lawn each week and
13) 7/9 Jay paid $75 cash to rent some equipment needed for the Foster job (see transaction 15).
14) 7/10 Jay purchased another $60 of gas using his VISA card.
15)7/11 Jay completed a landscaping and clean-up job for Mr. Foster. He left Mr. Foster a bill for $720.
16) 7/13 Jay charged another $140 in landscaping supplies at Lovell Home & Garden Center.

17) 7/14 Jay completed a $550 job for Mrs. Sanchez. She had hired him to mow her lawn and create a perennial flower bed
18) 7/15 Jay's girlfriend insisted that he take a break. He withdrew $120 from his checking account to go out for a nice even
19) 7/16 Jay charged $110 on his VISA card for an oil change and some other minor maintenance on his truck.
20) 7/17 Jay paid Lovell Home & Garden Center $175 on his account.

21) 7/17 Jay transferred $300 from his checking account to his savings account.
22) 7/18 Jay wrote a check for $40 for fuel for the truck and the mower.
23) 7/19 Jay had no cash on him, so he wrote a business check for $12 to pay for his lunch.
24) 7/19 Jay completed a job in which he mowed Mrs. Mattson's lawn and created two new flower beds. She paid him $42
25) 7/20 Jay paid $55 to rent a piece of equipment to assist in trimming Mr. Young’s trees (transaction
26) 7/20 Mr. Young paid Jay $150 to mow his lawn and trim his trees.
27) 7/21 Jay received $400 from Mr. Foster, with a note that he would pay the balance next week.
28) 7/22 Jay paid $80 to rent some equipment needed for the Grayson job (see transaction 29).
29) 7/23 Jay completed a $700 job landscaping Mr. Grayson’s pool area. He was paid $200 in cash, and Mr. Grayson agreed
30) 7/24 A check for $150 was received from Mrs. Sanchez as partial payment on the work Jay completed on July 14.
31) 7/24 Jay charged (on his VISA) another $65 for landscaping supplies.
32) 7/25 Mrs. Yee paid Jay $140 to mow, weed, and put new mulch in her garden beds.
33) 7/26 Jay wrote for $85 for more fuel for his truck and mower.
34) 7/27 Jay purchased an additional $45 of office supplies.
35) 7/30 Jay paid another $75 on his account at Lovell Home & Garden.
7/31 Now that Jay has completed his first month in business he wants to prepare financial statements. He has gathered

*Information for Adjustments*

AI) Jay estimates that his truck will last four years and have an estimated salvage value of $500. ( Jay is using straight-line de
A2) The lawn mower and tools should last three years, with no salvage value.
A3) Jay needs to accrue one month’s interest on his loan from Aunt Emma.
A4) By July 31, Jay had mowed Mr. Adams’ yard three of the six agreed-upon times.
A5, A6 & A7) As of July 31, Jay had $25 of office supplies, $75 of landscaping supplies, and 200 advertising flyers still on ha
A8) Jay’s bank statement showed that his savings account had earned $5 in interest revenue.
ited 2,500 in a checking account and $500 into savings.
e terms of the note, he must make payments of $250 plus accrued interest on the first day of each month. Jay put $4,500 into his check
e month of July.
$75 for the first month's service.

Center. The total cost was $1,080. (Debit Lawn Equipment)

al hardware store using his VISA card.

cost was charged to Jay's checking account. He considered this an immaterial amount and charged it all to Office Supplies Expense.

225 and are considered advertising materials. He also purchased $90 of office supplies. Jay used his VISA for all of these purchases.
mow his lawn each week and keep his hedges trimmed while he is away.

reate a perennial flower bed in the front of her house. Mrs. Sanchez paid him $250 and agreed to pay the rest later.
ount to go out for a nice evening with his girlfriend, Vanessa.
ce on his truck.

ower beds. She paid him $425 in cash.

ash, and Mr. Grayson agreed to pay the balance in August.

completed on July 14.

statements. He has gathered the information needed to make adjustments for the mother ended July 31.

. ( Jay is using straight-line depreciation for all assets.)

0 advertising flyers still on hand.

Jay put $4,500 into his checking account and $1,500 into savings.
Office Supplies Expense.

r all of these purchases.

 General Journal
Page 1
Post Credit
Date Accounts and Explanation Debit
Ref.
July 1 Cash-Checking 100 $2,500
Cash-Saving 105 500
Kyle, Capital 300 $3,000

2 Cash-Checking 100 4,500

Cash-Saving 105 1,500
Note Payable-Aunt Martha 200 6,000

3 2006 Nissan Pickup Truck 150 4,820

Cash-checking 100 4,820

3 Insurance Expense 545 150

Cash-checking 100 150

3 Telephone expense 520 75

Cash-checking 100 75

5 No entry

5 Lawn equipment 160 1,080

Account payable-Young's Home & Garden C 210 1,080

6 Office supplies 130 185

Account payable-Visa 220 185

6 Gas and oil expense 510 80

Cash-checking 100 80

7 Office supplies expense 540 25

Cash-checking 100 25

7 Advertising material 120 225

Office suplies 130 90
Account Payable-Visa 220 315

8 Cash-checking 100 360

Unearned revenue 240 360
 General Journal

Post
Date Accounts and Explanation Debit
Ref.
July 9 Equipment Rental Expense 560 $75
Cash-checking 100

10 Gas and oil expense 510 60

Account Payable-Visa 220

11 Account receivable-Mr. Abrams 110 720

Lawncare/Landscaping revenue 400

13 Landscaping supplies 140 140

Account payable-Young's home & Garden ce 210

14 Account receeivable-Mrs. Mercado 111 300

Cash-checking 100 250
Lawncare/Landscaping revenue 400

15 Kyle, Drawning 310 120

Cash-checking 100

16 Pickup Truck maintenance expense 550 110

Account payable-Visa 220

17 Account payable-Young's Home & Garden center 210 175

Cash-checking 100

17 Cash-Saving 105 300

Cash-checking 100

18 Gas and oil expense 510 40

Cash-checking 100

19 Kyle, Drawning 310 12

Cash-checking 100

19 Cash-checking 100 425

Lawncare/Landscape revenue 400
 Page 2
Credit

$75

60

720

140

550

120

110

175

300

40

12

425
 General Journal
Post
Date Accounts and Explanation Debit
Ref.
July 20 Equipment rental expense 560 $55
Cash-checking 100

20 Cash-checking 100 150

Lawncare/Landscaping revenue 400

21 Cash-checking 100 400

Account receivable-Mr Abrams 110

22 Equipment rental expense 560 80

Cash-checking 100

23 Cash-checking 100 200

Account receivable-Mr. Roker 112 500
Lawncare/Landscaping revenue 400

24 Cash-checking 100 150

Account receivable-Mrs. Mercado 111

24 Landscape supplied 140 65

Account payable-Visa 220

25 Cash-checking 100 140

Lawncare/Landscaping revenue 400

26 Gas and Oil Expense 510 85

Cash-checking 100

27 Office supplies 130 45

Cash-checking 100

30 Account payable-Young Home & Garden Center 210 75

Cash-checking 100
 Page 3
Credit

$55

150

400

80

700

150

65

140

85

45

75
 General Journal
Adjusting Entries
Post
Date Accounts and Explanation Debit
Ref.
A 1 Depreciation expense-Pickup Truck 580 180
Accumulated Depreciation-Pickup Truck 151

2 Depreciation expense-Lawn Equipment 590 60

Accumulated Depreciation-Lawn Equipment 161

3 Interest expense 545 90

Interest Payable 230

4 Unearned Revenue 240 180

Lawncare/Landscaping revenue 400

5 Office supplies expense 540 295

Office supplies 130

6 Landsacping supplies expense 500 130

Landscaping supplies 140

7 Advertising expense 530 25

Advertising materials 120

8 Cash-Saving 105 5
Interest Revenue 410
 Page 4
Credit

180

60

90

180

295

130

25

5
 General Journal
Closing Entries
Post
Date Accounts and Explanation
Ref.
July 31 Lawn Care/Landscaping Revenue 400
Interest Revenue 410
Income Summary 320

31 Income summary 320

Landscaping Supplies Expense 500
Gas and Oil Expense 510
Telephone Expense 520
Advertising Expense 530
Office Supplies Expense 540
Interest Expense 545
Pickup Truck Maintenance 550
Equipment Rental Expense 560
Insurance Expense 570
Depreciation Expense-Pickup Truck 580
Depreciation Expense-Lawn Equipment 590

Kyle, Capital 300

Kyle, Drawaing 310

Income Summary 320

Kyle, Capital 300
 Page 5
Credit
Debit
$2,865
5
$2,870

1,615
130
265
75
25
320
90
110
210
150
180
60

132
132

1,255
1,255
 General Ledger
Accounts: 100 - 161
Account: Cash - Checking
Post
Date Item Debit
Ref.
July 1 Jay Stevenes Capital 300 2,500.00
2 Note Payable-Emma 200 4,500.00
3 2006 Nissan Pickup Truck 150
3 Insurance Expense 545
3 Telephone expense 520
6 Gas and oil expense 510
7 Office supplies expense 540
8 Unearned Revenue 240 360.00
9 Equipment Rental Expense 560
14 Lawn care/landscaping revenue 400 250.00
15 Kyle, Drawning 310
17 Account payable-Young's Home & Garden center 210
17 Cash Saving 105
18 Gas and oil expense 510
19 Kyle, Drawning 310
19 Lawn care/landscaping revenue 400 425.00
20 Equipment rental expense 560
20 Lawn care/landscaping revenue 400 150.00
21 Account Receibale-Mr Froster 110 400.00
22 Equipment rental expense 560
23 Lawn care/landscaping revenue 400 200.00
24 Account receivable-Mrs. Sanchez 111 150.00
25 Lawn care/landscaping revenue 400 140.00
26 Gas and oil expense 510
27 Office supplies 130
30 Account payable-Young Home & Garden Center 210

Account: Cash - Savings

Post
Date Item Debit
Ref.
July 1 Kyle, Capital 300 500.00
2 Note Payable-Aunt Martha 200 1,500.00
17 Cash checking 100 300.00
31 Interest Revenue 410 5.00
Account: Accounts Receivable - Mr.Abrams
Post
Date Item Debit
Ref.
July 11 Lawn care/ Landsacping revenue 400 720.00
21 Cash checking 100
Account: Accounts Receivable - Mrs. Mercado
Post
Date Item Debit
Ref.
july 14 Lawn care/landscaping reveue 400 300.00
24 Cash checking 100

Account: Accounts Receivable - Mr. Roker

Post
Date Item Debit
Ref.
July 23 Lawn care/Landscaping revenue 400 500.00

Account: Advertising Materials

Post
Date Item Debit
Ref.
July 7 Account payable-Visa 220 225.00
31 Advertising Expense 530

Account: Office Supplies

Post
Date Item Debit
Ref.
July 6 Account payable-Visa 220 185.00
 7 Account payable-Visa 220 90.00
27 Cash checking 100 45.00
31 Office supplies expense 540

Account: Landscaping Supplies

Post
Date Item Debit
Ref.
July 13 Account payable-Lovell Home 210 140.00
24 Account payable-Visa 220 65.00
Account: 2006 Nissan Pickup Truck
Post
Date Item Debit
Ref.
July 3 Cash-checking 100 4,820.00

Account: Accumulated Depreciation - Lawn Equipment

Post
Date Item Debit
Ref.
July 31 Depreciation expense 590
Account No. 100
Credit Balance
2,500.00
7,000.00
4,820.00 2,180.00
150.00 2,030.00
75.00 1,955.00
80.00 1,875.00
25.00 1,850.00
2,210.00
75.00 2,135.00
2,385.00
120.00 2,265.00
175.00 2,090.00
300.00 1,790.00
40.00 1,750.00
12.00 1,738.00
2,163.00
55.00 2,108.00
2,258.00
2,658.00
80.00 2,578.00
2,778.00
2,928.00
3,068.00
85.00 2,983.00
45.00 2,938.00
75.00 2,863.00
2,863.00

Account No. 105

Credit Balance
500.00
2,000.00
2,300.00
2,305.00
 2,305.00

Account No. 110

Credit Balance
720.00
400.00 320.00
320.00
Account No. 111
Credit Balance
300.00
150.00 150.00
150.00

Account No. 112

Credit Balance
500.00
500.00

Account No. 120

Credit Balance
225.00
25.00 200.00
200.00

Account No. 130

Credit Balance
185.00
 275.00
320.00
295.00 25.00
25.00

Account No. 140

Credit Balance
140.00
205.00
205.00
Account No. 150
Credit Balance
4,820.00
4,820.00

Account No. 161

Credit Balance
60.00 60.00
60.00
Accounts: 200 - 410
Account: Note Payable - Aunt Martha Account No.
Post
Date Item Debit Credit
Ref.
July 2 Cash-Checking 100 4,500.00
Cash-Saving 500 1,500.00

Account: Accounts Payable - Young Home & Garden Center Account No.
Post
Date Item Debit Credit
Ref.
July 5 Lawn equipment 160 1,080.00
13 Landscaping supplies 140 140.00
17 Cash checking 100 175.00
30 Cash checking 100 75.00

Account: Accounts Payable - VISA Account No.

Post
Date Item Debit Credit
Ref.
July 6 Office supplies 130 185.00
7 Advertising material 225 225.00
7 Office suplies 130 90.00
10 Gas and oil expense 510 60.00
16 Pickup Truck maintenance expense 550 110.00
24 Landscape supplied 140 65.00

Account: Interest Payable Account No.

Post
Date Item Debit Credit
Ref.
July 31 Interest expense 545 90.00
Account: Unearned Revenue Account No.
Post
Date Item Debit Credit
Ref.
July 8 Cash Checking 100 360.00
31 Lawncare/Landscaping revenue 400 180.00
Account: Kyle, Capital Account No.
Post
Date Item Debit Credit
Ref.
July 1 Cash-Checking 100 2,500.00
1 Cash-Saving 105 500.00
31 Jay Stevens, Drawing 310 132.00
31 Income Summary 320 1,255.00

Account: Kyle, Drawing Account No.

Post
Date Item Debit Credit
Ref.
July 14 Cash checking 100 120.00
19 Cash checking 100 12.00
31 Jay Stevens, Capital 300 132.00

Account: Income Summary Account No.

Post
Date Item Debit Credit
Ref.
July 31 Lawn Care/Landscaping Revenue 400 2,865.00
Interest Revenue 410 5.00
Landscaping supplies 500 130.00
Gas and Oil Expense 510 265.00
Telephone expense 520 75.00
Advertising ex[emse 530 25.00
Office supplies expense 540 320.00
Interest Expense 545 90.00
Pickup truck maintenance 550 110.00
Equipmental Rental expense 560 210.00
Insurance expense 570 150.00
Depreciation exp-Truck 580 180.00
Depreciation exp-Lawn Euip 590 60.00
Kyle, Capital 300 1,255.00
Account: Lawn Care/Landscaping Revenue Account No.
Post
Date Item Debit Credit
Ref.
July 11 Account receivable-Mr. Abrams 110 720.00
14 Account receeivable-Mrs. Mercado 111 300.00
14 Cash-checking 100 250.00
19 Cash-checking 100 425.00
20 Cash-checking 100 150.00
23 Cash-checking 100 200.00
23 Account receivable-Mr. Roker 112 500.00
25 Cash-checking 100 140.00
31 Unearned Revenue 240 180.00
31 Income summary 320 2865
Account: Interest Revenue Account No.
Post
Date Item Debit Credit
Ref.
July 31 Cash saving 105 5.00
31 Income Summary 320 5.00

Account: Lawn Equipment Account No.

Post
Date Item Debit Credit
Ref.
July 5 Account payable-Lowell Home 160 1,080

Account: Accumulated Depreciation - Pickup Truck Account No.

Post
Date Item Debit Credit
Ref.
July 31 Depreciation expense 580 180.00
 Accounts: 500 - 590
200 Account: Landscaping Supplies Expense
Post
Balance Date Item Debit
Ref.
4,500.00 July 31 Landscaping Supplies 140 130.00
6,000.00 31 Income summary 320
6,000.00

210 Account: Gas and Oil Expense

Post
Balance Date Item Debit
Ref.
1,080.00 July 6 Cash Checking 100 80.00
1,220.00 10 Account payable-Visa 220 60.00
1,045.00 18 Cash Checking 100 40.00
970.00 26 Cash Checking 100 85.00
970.00 31 Income summary 320

220 Account: Telephone Expense

Post
Balance Date Item Debit
Ref.
185.00 July 3 Cash Checking 100 75.00
410.00 31 Income summary 320
500.00
560.00
670.00
735.00
735.00

230 Account: Advertising Expense

Post
Balance Date Item Debit
Ref.
90.00 July 31 Advertising Materials 530 25.00
90.00 31 Income summary 320
 240 Account: Office Supplies Expense
Post
Balance Date Item Debit
Ref.
360.00 July 7 Cash Checking 100 25.00
180.00 31 Office Supplies 130 295.00
180.00 31 Income summary 320
 300 Account: Interest Expense
Post
Balance Date Item Debit
Ref.
2,500.00 July 31 Interest Payable 230 90.00
3,000.00 31 Income summary 320
2,868.00
4,123.00
4,123.00

310 Account: Pickup Truck Maintenance Expense

Post
Balance Date Item Debit
Ref.
120.00 July 16 Account Payable-Visa 220 110.00
132.00 31 Income summary 320
0.00

320 Account: Equipment Rental Expense

Post
Balance Date Item Debit
Ref.
2,865.00 July 9 Cash checking 100 75.00
2,870.00 20 Cash checking 100 55.00
2,740.00 22 Cash checking 100 80.00
2,475.00 31 Income summary 320
2,400.00
2,375.00
2,055.00
1,965.00
1,855.00
1,645.00 Account: Insurance Expense
1,495.00 Post
Date Item Debit
1,315.00 Ref.
1,255.00 July 3 Cash checking 100 150.00
0.00 31 Income summary 320
 400
Balance
720.00
1,020.00
1,270.00 Account: Depreciation Expense - Pickup Truck
1,695.00 Post
Date Item Debit
1,845.00 Ref.
2,045.00 July 31 Accumulated Depreciation 151 180.00
2,545.00 31 Income summary 320
2,685.00
2,865.00
0.00
 410
Balance
5.00 Account: Depreciation Expense - Lawn Equipment
0.00 Post
Date Item Debit
0.00 Ref.
July 31 Accumulated Depreciation 161 60.00
31 Income summary 320

160
Balance
1,080
1,080

151
Balance
180.00
180.00
Account No. 500
Credit Balance
130.00
130.00 0.00

Account No. 510

Credit Balance
80.00
140.00
180.00
265.00
265.00 0.00

Account No. 520

Credit Balance
75.00
75.00 0.00

Account No. 530

Credit Balance
25.00
25.00 0.00
Account No. 540
Credit Balance
25.00
320.00
320.00 0.00
Account No. 545
Credit Balance
90.00
90.00 0.00

Account No. 550

Credit Balance
110.00
110.00 0.00

Account No. 560

Credit Balance
75.00
130.00
210.00
210.00 0.00

Account No. 570

Credit Balance

150.00
150.00 0.00
Account No. 580
Credit Balance
180.00
180.00 0.00
Account No. 590
Credit Balance
60.00
60.00 0.00
 Lawnranger lands
Work Sh
For the Month Ende

Trial Balance
Account Title
Debit Credit
Cash-checking $2,863.00
Cash-Saving 2,300.00
Account Receivable-Mr. Abrams 320.00
Accounts Receivable-Mrs. Mercado 150.00
Accounts Receivable- Mr Roker 500.00
Advertising Materials 225.00
Office Supplies 320.00
Landscaping Supplies 205.00
2006 Nissan Pickup Truck 4,820.00
Accumulated Depreciation-Pickup truck $0.00
Lawn Equipment 1,080
Accumulated Depreciation-Lawn Equipment 0
Note Payable-Aunt Martha 6,000.00
Accounts Payable-Young Home & Garden Center 970.00
Accounts Payable-VISA 735.00
Interest Payable 0
Unearned Revenue 360.00
Kyle, Capital 3,000.00
Kyle, Drawing 132.00
Income Summary 0
Lawn Care/Landscaping Revenue 2,685.00
Interest Revenue 0
Landscaping Supplies Expense 0
Gas and Oil Expense 265.00
Telephone Expense 75.00
Advertising Expense 0
Office Supplies Expense 25.00
Interest Expense 0
Pickup Truck Maintenance 110.00
Equipment Rental Expense 210.00
Insurance Expense 150.00
Depreciation Expense-Pickup Truck 0
Depreciation Expense-Lawn Equipment 0

Totals $13,750.00 $13,750.00

Net Income
Totals
 Lawnranger landscaping service
Work Sheet
For the Month Ended July 31, 20XX

Adjustments Adjusted Trial Balance Income Statement

Debit Credit Debit Credit Debit Credit
$2,863.00
$5.00 2,305.00
320.00
150.00
500.00
$25 200.00
295 25.00
130 75.00
4,820.00
180 $180.00
1,080.00
60 60.00
6,000.00
970.00
735.00
90 90.00
180 180.00
3,000.00
132.00
0.00
180.00 2,865.00 2,865.00
5.00 5.00 5.00
130 130.00 130.00
265.00 265.00
75.00 75.00
25 25.00 25.00
295 320.00 320.00
90 90.00 90.00
110.00 110.00
210.00 210.00
150.00 150.00
180 180.00 180.00
60 60.00 60.00

$965.00 $965.00 $14,085.00 $14,085.00 $1,615.00 $2,870.00

1,255.00
$2,870.00 $2,870.00
 Balance Sheet
Debit Credit
$2,863.00
2,305.00
320.00
150.00
500.00
200.00
25.00
75.00
4,820.00
$180.00
1,080.00
60.00
6,000.00
970.00
735.00
90.00
180.00
3,000.00
132.00

1,255.00
$12,470.00 $12,470.00
 Lawnranger landscaping service
Income Statement
For the Month Ended July 31, 20XX

Lawn Care/Landscaping Revenue $2,865.00

Interest Revenue 5.00
Total Revenue 2,870.00

Less: Expenses
Landscaping Supplies Expense $130.00
Gas and Oil Expense 265.00
Telephone Expense 75.00
Advertising Expense 25.00
Office Supplies Expense 320.00
Interest Expense 90.00
Pickup Truck Maintenance 110.00
Equipment Rental Expense 210.00
Insurance Expense 150.00
Depreciation Expense-Pickup Truck 180.00
Depreciation Expense-Lawn Equipment 60.00
Total Expenses 1,615.00
Net Income $1,255.00
 Lawnranger landscaping service Lawnran
Statement of Owner Equity
For the Month Ended July 31, 20XX For the M

Kyle, Capital-July 1, 20XX $3,000.00 Current Assets

Add: Net Income $1,255.00 Cash-checking
$4,255.00 Cash-Saving
Less: Kyle, drawing 132.00 Account Receivable-Mr. Abrams
Kyle, Capital July 31, 20XX $4,123.00 Accounts Receivable-Mrs. Mercado
Accounts Receivable- Mr Roker
Advertising Materials
Office Supplies
Landscaping Supplies
Total Current Assets
Property, Plant and Equipment
2006 Nissan Pickup Truck
Accumulated Depreciation-Pickup
Pickup Truck, Net
Lawn Equipment
Accumulated Depreciation-Lawn E
Lawn Equipment, Net
Total Property, Plant and Equipmen
Total Assets
Liabiliti
Liabilities
Note Payable-Aunt Martha
Accounts Payable-Young Home & G
Accounts Payable-VISA
Interest Payable
Unearned Revenue
Total Liabilities
Owner Equity
Kyle, Capital
Total Liabilities and Owner Equity
 Lawnranger landscaping service
Balance Sheet
For the Month Ended July 31, 20XX
Assets
Assets
cking $2,863.00
ng 2,305.00
Receivable-Mr. Abrams 320.00
Receivable-Mrs. Mercado 150.00
Receivable- Mr Roker 500.00
ng Materials 200.00
pplies 25.00
ing Supplies 75.00
rent Assets 6438
Plant and Equipment
an Pickup Truck $4,820
ated Depreciation-Pickup truck 180.00
uck, Net $4,640.00
ipment 1,080.00
ated Depreciation-Lawn Equipment 60.00
ipment, Net 1,020.00
perty, Plant and Equipment $5,660.00
ets $12,098.00
Liabilities and Owner Equity

able-Aunt Martha 6,000.00

Payable-Young Home & Garden Center 970.00
Payable-VISA 735.00
ayable 90.00
d Revenue 180.00
bilities 7,975.00
quity
tal $4,123.00
bilities and Owner Equity $12,098.00
 Lawnranger landscaping service
Post Closing Trial Balance
For the Month Ended July 31, 20XX
Account Title Debit Credit
Cash-checking $2,863.00
Cash-Saving 2,305.00
Account Receivable-Mr. Abrams 320.00
Accounts Receivable-Mrs.Mercado 150.00
Accounts Receivable- Mr Roker 500.00
Advertising Materials 200.00
Office Supplies 25.00
Landscaping Supplies 75.00
2006 Nissan Pickup Truck 4,820.00
Accumulated Depreciation-Pickup truck $180.00
Lawn Equipment 1,080.00
Accumulated Depreciation-Lawn Equipment 60.00
Note Payable-Aunt Martha 6,000.00
Accounts Payable-Young Home & Garden Center 970.00
Accounts Payable-VISA 735.00
Interest Payable 90.00
Unearned Revenue 180.00
Jay Stevens, Capital 4,123.00
Total $12,338.00 $12,338.00