|During its first month of operation, the
Flower Landscaping Corporation, which specializes in residential landscaping,
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
|March 1||Paid the current month’s
|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,
|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
|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.