Requirement #1:during its first month of operation, the flower

Requirement #1:          

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.


Prepare journal entries to record the March transactions in the General Journal below.

Looking for a similar assignment? Get help from our qualified experts!

Our specialized Assignment Writers can help you with your custom paper today. 100% written from scratch

Order a Similar Paper Order a Different Paper