Below are the transactions for Broncho Landscaping Masters, Inc. for the month o

Question

Below are the transactions for Broncho Landscaping Masters, Inc. for the month of November 2018. This is the company's first month of operation. Its owner is a retired University of Central Oklahoma professor who wants to take time to smell the roses. a. November 1--Invested $15,000 cash and an SUV valued at $30,000 to start Broncho Landscaping Masters, Inc. The business issued 10,000 shares of no-par common stock in exchange for these assets. b. November 3--Borrowed $45,000 from Last National Bank. The loan is due in 1 year and has an interest rte of 10%. c. November 5--Purchased a work truck from Charles Gray Motors for $8,000 cash. d. November 5--The Corporation purchased a nine-month insurance policy for $3,600 and charged the amount to an asset account. e. November 7--Performed landscape services for Peaceful Rest Cemetery and received $2,500 cash. f. November 8 -Completed a $9,600 landscaping job and billed Mercy Rest Home for the amount due. g. November 15-Paid employee salaries of $1,800. h. November 16--Received $2,400 from Judge Judy for planting a rose garden. i. November 17-Received $12,000 from Rest Well Cemetery for an annual maintenanc contract. The amount was charged to a revenue account. j. November 18-Received a check from Mercy Rest Home for the full amount due. k. November 19-Received a bill from Edmond Telephone Company for $350. l. November 19--Received an electric bill from Edmond Light and Power for $900 m. November 20--Purchased fuel for the SUV and truck on credit for $375 n. November 21--Paid office rent of $2,300. o. November 21-Purchased office supplies from Staples for $1,100 cash and recorde in an inventory account. p. November 22--Paid the telephone bill and the electric bill. q. November 25--Paid $120 to Slow-Joe Lube Company for auto service. r. November 30--Received cash of $3,100 for several landscaping jobs. s. November 30-Paid a cash dividend to the owner of $1,750.

Explanation / Answer

Note: Please submit a new question for the remaining parts.

1. Journalize each of transactions in the General Journal. JOURNAL Date Account Debit Credit Nov. 1 Cash 15000 Auto & Trucks 30000    Common stock 45000 Nov. 3 Cash 45000      Note payable 45000 Nov. 5 Auto & Trucks 8000     Cash 8000 Nov. 5 Prepaid Insurance 3600      Cash 3600 Nov. 7 Cash 2500        Service revenue 2500 Nov. 8 Accounts Receivable 9600        Service revenue 9600 Nov. 15 Salary expense 1800      Cash 1800 Nov. 16 Cash 2400        Service revenue 2400 Nov. 17 Cash 12000        Service revenue 12000 Nov. 18 Cash 9600     Accounts Receivable 9600 Nov. 19 Telephone expense 350 Utilities Expense 900     Accounts payable 1250 Nov. 20 Fuel Expense 375     Accounts payable 375 Nov. 21 Rent Expense 2300     Cash 2300 Nov. 21 Supplies Inventory 1100     Cash 1100 Nov. 22 Accounts Payable 1250      Cash 1250 Nov. 25 Auto Expense 120      Cash 120 Nov. 30 Cash 3100        Service revenue 3100 Nov. 30 Dividends 1750     Cash 1750 2. Open the following T- Accounts T- Accounts Cash Nov. 1 15000 8000 Nov. 5 Nov. 3 45000 3600 Nov. 5 Nov. 7 2500 1800 Nov. 15 Nov. 16 2400 2300 Nov. 21 Nov. 17 12000 1100 Nov. 21 Nov. 18 9600 1250 Nov. 22 Nov. 30 3100 120 Nov. 25 1750 Nov. 30 Balance 69680 Accounts Receivable Nov. 8 9600 9600 Nov. 18 Balance 0 Supplies Inventory Nov. 21 1100 Balance 1100 Prepaid Insurance Nov. 5 3600 0 Balance 3600 Autos & Trucks Nov. 1 30000 Nov. 5 8000 Balance 38000 Accumulated Depreciation Accounts Payable Nov. 22 1250 1250 Nov. 19 375 Nov. 20 375 Balance Interest Payable Notes Payable 45000 Nov. 3 45000 Balance Unearned Service revenue Common Stock 45000 Nov. 1 45000 Balance Dividends Nov. 30 1750 Balance 1750 Service Revenue 2500 Nov. 7 9600 Nov. 8 2400 Nov. 16 12000 Nov. 17 3100 Nov. 30 29600 Balance Salaries Expense Nov. 15 1800 Balance 1800 Depreciation Expense Interest Expense Insurance Expense Fuel Expense Nov. 20 375 Balance 375 Rent Expense Nov. 21 2300 Balance 2300 Auto Expense Nov. 25 120 Balance 120 Supplies Expense Utilities Expense Nov. 19 900 Balance 900 Telephone Expense Nov. 19 350 Balance 350 3. Prepare an unadjusted trial balance as of November 30, 2018. Unadjusted Trial Balance As on Novemeber 30, 2018 Account Debit Credit Cash 69680 Accounts Receivable 0 Supplies Inventory 1100 Prepaid Insurance 3600 Autos & Trucks 38000 Accumulated Depreciation 0 Accounts Payable 375 Interest Payable 0 Notes Payable 45000 Unearned Service revenue 0 Common Stock 45000 Dividends 1750 Service Revenue 29600 Salaries Expense 1800 Depreciation Expense 0 Interest Expense 0 Insurance Expense 0 Fuel Expense 375 Rent Expense 2300 Auto Expense 120 Supplies Expense 0 Utilities Expense 900 Telephone Expense 350       Totals 119975 119975 0 4. Journalize the adjusting entries. JOURNAL Date Account Debit Credit Nov. 30 Salary expense 1000     Salary Payable 1000 Nov. 30 Depreciation Expense 850 Accumulated Depreciation 850 Nov. 30 Interest Expense 375 Interest Payable 375 Nov. 30 Insurance Expense 400 Prepaid Insurance 400 Nov. 30 Service revenue 11000        Unearned Service revenue 11000 Nov. 30 Supplies Expense 515 Supplies Inventory 515

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